Peaksware – the company behind TrainingPeaks and other brands – has created an investment platform to ‘empower skill development in endurance sports, music education and sports performance’. The company’s new Ventures Division will leverage Peaksware platform solutions, such as TrainingPeaks, SmartMusic, Alfred Music, TrainHeroic and complementary products Finale, Garritan Sounds, BestBikeSplit and WKO.
Each of the platforms combine software paired with educational content to connect creators, instructors, and performers with tools to publish, teach and train ‘using the proven principles of deliberate practice’.
Peaksware adds that it has seen unprecedented growth in recent years, and as a result is looking to tap into the many unexplored avenues ‘through which we can advance our purpose to help people achieve their best’. So it is launching Peaksware Ventures to identify and help fund products and companies to expand its existing platforms and grow into new markets.
Peaksware Ventures will be headed up by Gear Fisher, TrainingPeaks Co-Founder and current Peaksware CEO. Going forward, Fisher will focus on Peaksware Ventures as Head Of Corporate Development; while Andy Stephens, Peaksware’s Chairman, will assume the role of Peaksware CEO.
“With Ventures, our goal is to not only help more people with skill development but to give entrepreneurs the opportunity to realize their dreams,” said Gear Fisher. “I was once in their shoes and believe I understand exactly what it takes to help them succeed. We’ve built Peaksware into an organization with the experience, expertise and resources to help launch these businesses.”
Andy Stephens founded Peaksware in 2014 when he brought together two of his investments, TrainingPeaks and MakeMusic. He considers Peaksware to be the culmination of his 30-year career in investment, where he was both a top-performing portfolio manager and the managing director responsible for building US$30 billion in assets at Growth Team for Artisan Partners.
Stephens brings a wealth of knowledge about successful growth strategies; and adds that that he is excited to put into practice at Peaksware. “Since I first invested in TrainingPeaks in 2007 my goal has been to create a growing, self-sustaining business with the passion and resources to make a real difference in the world,” said Stephens.
“I believe that developing competence in something that truly interests you, fundamentally improves your life, whether it’s learning to play a concerto, run a marathon, compete as a weightlifter or any one of a thousand other skills. We are well on our way to achieving that vision today at Peaksware.”
Over the years Peaksware has invested in, partnered with or acquired a number of companies including CyclingPeaks Software, the predecessor of analytics package WKO, Sprint GPS, BestBikeSplit, TrainHeroic, MakeMusic, Alfred Music and Weezic, each of which either augmented an existing platform or brought an entirely new platform and domain into the Peaksware family.
Peaksware adds that if individuals who ‘have a product, company, or even just an idea for helping people develop skills in one of its current domains or a brand new one please let us know… We look forward to talking with others as passionate as we are for helping people achieve their best.’
