April 22, 2020 – FORM, the direct-to-consumer sports technology company that makes augmented reality swim goggles, has announced CAD $12 million in Series A funding. The raise, led by large family offices in the UK and Denmark with participation from Silicon Valley Bank, follows the company’s growth since the launch of the FORM Smart Swim Goggles in August 2019.
FORM states that the funding received is being applied to further geographic expansion and localization efforts outside of North America, investments into new products and services, scaling e-commerce and product teams, as well as the expansion of field marketing and branding. As FORM scales, it will provide more swimmers worldwide with the ability to view their metrics in real-time, as they swim.
“FORM has grown rapidly since launch last August, and we’re proud that we shipped over 10,000 goggles from our website in just the first four months of operations,” said Dan Eisenhardt, Founder and CEO of FORM. “There are over 240 million active pool swimmers worldwide, and yet the sport has been completely under-served by technology. With FORM, swimmers now have access to real-time data in a way that was previously unavailable to them. This investment will allow us to inject funds into the product, brand and sales expansion, giving even more swimmers seamless access to their performance metrics in real-time, and helping them fulfill their true potential.”
The FORM goggles give swimmers real-time visual feedback, with metrics like split times, distance, stroke rate, pace per 100, and calories displayed directly in the swimmer’s line of sight. Through a partnership with Polar, swimmers now also have the ability to view their heart rate in real-time throughout their swim.
Data from the FORM goggles then syncs with the companion FORM Swim App for iPhone and Android, where swimmers can customize metrics, review progress after each swim, analyse performance, engage with the community and their coaches, and track and share progress over time. Swimmers also have the option to sync data from the FORM Swim App with other platforms, including Strava, TrainingPeaks, Apple Health and Garmin.
The company’s patented waveguide display technology is usable underwater, and FORM’s proprietary AI technology delivers accurate insights into how swimmers swim. The goggles also feature premium materials that the company states deliver “best-in-class fit and durability, making them more comfortable than regular swim goggles.”
The FORM goggles are available from the company’s website, as well as from Amazon in the US, Canada, United Kingdom, France, Germany, Spain, Italy, Australia and Japan. The FORM Swim App is available as a free download from the App Store and from Google Play.
Image credit: FORM