Reform RX has secured US$1.5 million for global expansion
Clarendon Fund Managers says this is the largest initial investment it has ever made in a Northern Ireland company
The Reformer machines brings technology to Pilates
Founders say this will allow them to “continue pushing the boundaries of what’s possible in Pilates”
Reform RX has secured US$5.1 million in funding to fuel global expansion, led by Northern Ireland equity fund manager, Clarendon Fund Managers.
The reformer combines traditional Pilates principles with technology that tracks user movement to the thousandth of a second, shows real-time biometric data, enables users to participate in streamed on-demand classes and connects to wearables.
Founded by functional movement specialist and Pilates expert Yvette McGaffin – who counts Sir Ian McKellen and pro athletes as clients – and Neal McGaffin in 2018, Reform RX has grown exponentially. After generating US$1 million in revenue within two weeks of launch it sold out its initial product line in the first quarter of 2023.
Industry experts, including Sam Bowen, formerly of Peloton, and Frank van de Ven, ex-Life Fitness have come on board to hone the product.
“This significant investment will allow us to accelerate our global expansion and continue pushing the boundaries of what’s possible in Pilates,” says Yvette McGaffin. “At Reform RX, our mission is to transform the way people work out, guiding them beyond physical fitness to a deeper mind-body connection with themselves.
"By integrating mindful movement and mental clarity, we empower individuals to master the essential skill of emptying the mind, fostering resilience and calm amidst the noise of modern life. It's not just about fitness; it's about creating a sanctuary within where body and mind thrive together.
"Through partnering with Clarendon Fund Managers and completing the Investment Fund for Northern Ireland deal, we're taking the next step in our company’s growth."
Clarendon Fund Managers investment manager, Claudine Owens says: “The deal is the largest initial investment we've completed in a single NI company here at Clarendon, which is a reflection of the confidence we have in the team at Reform RX.”
