Hoop Industries Ltd.

Hoop Industries Ltd. develops a mobile application that enables parents to discover and book a wide range of activities for children aged newborn to 18 years, enhancing their physical and social engagement. Founded in 2014 and headquartered in London, UK, Hoop Industries Ltd. focuses on connecting families with local activities.

The company underwent a strategic pivot towards a mobile-first approach, which has proved effective in engaging users. The founder has a background in technology and entrepreneurship, although specific details about previous ventures are not available. In May 2018, Hoop Industries secured GBP 4. 01 million in Series A funding led by Business Growth Fund and Edge Investments, raising the total amount to GBP 4.

01 million and achieving a post-money valuation of GBP 17. 59 million. Hoop primarily offers a mobile application that facilitates the discovery and booking of local activities for children aged newborn to 18 years old. The app features over 400 types of activities, aggregating more than 100,000 unique offerings that cater to various interests and needs of children.

Key functionalities include location-based search capabilities, allowing parents to filter activities within a specific radius of their home or current location. The platform aims to address issues such as childhood obesity and mental health by promoting active and social engagement among children. Hoop serves a diverse clientele, primarily targeting parents and guardians, as well as schools and community organizations interested in enhancing children's health and well-being. The service is available in multiple geographical markets across urban areas, focusing on regions with a high density of family-oriented activities.

The revenue structure of Hoop is based on a combination of direct-to-consumer transactions and partnerships with local activity providers. The application operates on a subscription model, enabling users to access premium features or exclusive activities. Additionally, Hoop collaborates with local businesses, schools, and community organizations, creating partnerships that allow for revenue sharing in promoting activities listed on the platform. Specific pricing plans for individual activities or subscription services encourage accessibility for families, while the flagship product—its activity discovery and booking app—serves as the central point of revenue generation.

Users can expect seamless transactions through the app, enhancing engagement and supporting the overall mission of promoting healthy, active lifestyles for children. Hoop Industries plans to utilize the recent Series A funding of GBP 4. 01 million to expand its service offerings and enhance user experience by introducing new features within the app. The company aims to enter several new markets, particularly focusing on expanding its presence in urban areas across the UK and exploring potential growth in European cities by 2023.

The funding will support these initiatives, enabling Hoop to develop additional products aimed at enhancing social engagement and physical activity for children.