# Cadoo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cadoo

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.cadoo.io
- Total disclosed funding: $1.9M
- Latest round: Seed (Jul 13, 2021)
- Investors on record: 5

## About

Cadoo Inc is a fitness gaming platform that motivates users to engage in physical activities by utilizing financial incentives, enhancing accountability and enjoyment in fitness challenges.Cadoo Inc, founded in 2018 and headquartered in San Francisco, US, offers a platform that combines fitness and gaming. The company has successfully secured USD 1.5 mn in Seed funding, led by Apollo Venture Capital with participation from Dorm Room Fund. The latest funding round occurred on July 13, 2021. Tim Parsa serves as both the Founder and CEO of the company, steering its vision and strategy.Cadoo offers a unique fitness gaming platform that combines physical activity with financial incentives. The core service allows users to participate in various fitness challenges by staking an entry fee, which is structured as a form of monetary motivation termed '$DO.' Participants can join games centered around activities like running, cycling, walking, pushups, and other physical exercises. The platform integrates with popular fitness tracking apps, such as Strava and Fitbit, to verify workout completion and track user progress. Cadoo targets a diverse client base, including teams, brands, communities, and individual users, with a market presence in North America and expanding internationally. The service enhances social accountability in fitness, encouraging users to meet their health goals through gamification.Cadoo generates revenue primarily through entry fees collected from users participating in its paid fitness games. Users stake a specified amount to enter each challenge and upon completion, they can reclaim their stake along with a share of the stakes from non-winners. This structure creates a motivational ecosystem where users are financially incentivized to achieve their fitness goals. While Cadoo also offers free games, the paid challenges facilitate direct transactions between the company and its consumers, leveraging both B2C and team-based models. The platform’s pricing structure varies depending on the specific challenge, allowing users to engage in a range of fitness activities while fostering a competitive environment. All transactions on the platform require users to agree to the associated terms and conditions before engaging in money-motivated games.Cadoo Inc plans to utilize the recent Seed funding of USD 1.5 mn to enhance their platform by introducing new betting challenges that further gamify the fitness experience. The company aims to expand its market reach beyond North America into international regions, targeting Europe and Asia by the end of 2023. This strategic expansion will involve the launch of additional features to attract a broader user base and increase engagement in fitness activities.

## Funding rounds

- Seed, Jul 13, 2021, $1.5M — Dorm Room Fund, Apollo Venture Capital
- Angel, May 1, 2018, $0.3M — Pioneer Wealth Management Group, Wintech Ventures, Cloud Money Ventures

## Investors

- Pioneer Wealth Management Group — Angel
- Wintech Ventures (https://capitalatlas.ai/funds/wintech-ventures) — Angel
- Cloud Money Ventures (https://capitalatlas.ai/funds/cloud-money-ventures) — Angel
- Dorm Room Fund (https://capitalatlas.ai/funds/dorm-room-fund) — Seed
- Apollo Venture Capital — Seed