Running is certainly a popular activity and Finnish startup MyNextRun has emerged over the past few years as popular option for finding running events across Europe.
A week ago, the startup announced that they have picked up 1 million Euro from a group of investors that includes Finnish funding agency Tekes and several private investors. This latest investment, which they intend to put towards efforts to expand across Europe, brings the company’s total external backing to 2 million Euro. It was not the only significant announcement they made, however, as the startup also revealed that they are shuffling their management team, with co-founder Emma Huovinen moving into the CEO position and founding CEO Sami Granfors moving over to Chief Growth Officer.
The founders of this startup are no stranger to running, as Huovinen tells me that each had run at least one marathon and decided to build it out of frustration with easily searching for and registering in events, particularly those in foreign countries. Up to this point, MyNextRun has primarily focused on helping runners register for events, listing 14,000 events on their website and claiming 600 partner events around Europe. However, Huovinen tells me that they are ready to expand a bit, introducing a social element for those who find practicing for the big run a somewhat boring and lonely experience.
The platform is free to runners, as Huovinen says that the startup generates revenue by taking a commission on the fees and products sold at the registration stage of events. Business is booming, it seems, as the startup reports that revenue is currently growing at a 500% rate.