Reform RX secures £3.8m led by Clarendon Fund Managers to fund global expansion
Clarendon Fund Managers led the £3.8m financing round to support international growth and product development.
Reform RX designs and manufactures digitally connected Pilates reformers that combine traditional methods with biometric tracking technology. The company operates from Belfast and distributes its fitness equipment internationally.
Belfast-based Reform RX has secured £3.8m in funding to accelerate its international expansion and develop its connected fitness technology. The investment was led by Clarendon Fund Managers through the Investment Fund for Northern Ireland. Founded in 2018, the company produces digitally integrated Pilates reformers that track user movement and stream on demand classes.
The capital injection marks the largest initial investment Clarendon Fund Managers has completed in a single Northern Ireland company to date. Reform RX plans to use the proceeds to scale its global footprint and further refine its patented biometric platform, which delivers real time workout metrics for users across boutique studios and home settings.
From the founder
"This significant investment will allow us to accelerate our global expansion and continue pushing the boundaries of what’s possible in Pilates."
Yvette McGaffin
CEO and co-founder at Reform RX
Investor perspective
"With Neal and Yvette at the helm, Reform RX is an ambitious company that shares our vision for the future. It will be the must-have piece of equipment for every Reformer Pilates enthusiast and studio. The deal is the largest initial investment we have ever completed in a single NI company here at Clarendon, which is a reflection of the confidence we have in the team at Reform RX. I can’t wait to see how their journey develops from here."
Claudine Owens
Investment Manager, Clarendon Fund Managers
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Claudine Owens
Clarendon Fund Managers
Investment Fund for Northern Ireland
Austin Owens
Austin Owens
Bernadette Caulfield
Bernadette Caulfield