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According to Viktorija Trimbel, head of the venture capital fund "Coinvest Capital," the additional investment was driven by the highly motivated team’s performance, doubling the company's market valuation in just one year.
"The success of startups lies entirely in the hands of their teams – how quickly and efficiently they can develop a product, evolve, manage business operations, and mitigate risks in a world of constant change. If our first investment was driven by three factors – sustainability, global reach, and female empowerment – this time, I am adding a fourth: reliability. Under the leadership of Vlada Musvydaitė-Vilčiauskė, 'Walk15' is steadily following its strategy to make sustainability and wellness an everyday habit for people worldwide. We are proud to be part of this journey toward change and success with our fellow investors," said Trimbel.
"Walk15" is rapidly approaching 1 million app users globally, with its most active markets being the Baltic and Scandinavian countries, Germany, Romania, the United Kingdom, and the U.S. Currently, the "Walk15" team is focused on introducing new functionalities for users and monetizing the B2C segment. However, the core principle remains unchanged – the mobile app will continue to be free and accessible to everyone.
Germany Becomes the Key Growth Hub for "Walk15"
"NGL" leader Justinas Pašys highlights Germany’s potential for the further expansion of "Walk15": "We are reinvesting in 'Walk15' because we believe in the team and the company's long-term potential in the wellness and sustainability sectors. The company has achieved strong international expansion results and successfully laid the groundwork for growth in the German market with strategic partners. This investment will further strengthen 'Walk15’s' position in Germany, open new markets in the CEE region, enhance the product, and begin testing the U.S. market."
A year ago, "Walk15" established a company in Berlin, where its founder and CEO, Vlada Musvydaitė-Vilčiauskė, now spends nearly half of her time.
"Our goal is to build a strong team and replicate the success formula we have implemented in other countries. I am grateful that my family is with me on this journey and that 'Walk15' has a strong and reliable team in Lithuania that I trust completely. I am deeply thankful to our investors for enabling us to continue growing and moving forward," she stated.
"Walk15" Attracts Investments from Its Own Customers
According to "Walk15" CEO Vlada Musvydaitė-Vilčiauskė, one of the greatest validations of the product is when app users and clients decide to invest in it. Among them is the PVVG Holding family fund, led by Paulius Gedminas. He explained that the decision to invest came after years of using the app’s solutions to foster employee engagement, promote a healthy lifestyle, enhance workplace sustainability, improve team dynamics, and strengthen internal culture.
"First, we tested 'Walk15' solutions ourselves – we are regular users – and we see real impact. It's much more than an app; it's an initiative that unites colleagues into a community, encourages sustainability and wellness activities, and fosters a shared goal. Seeing how deeply our team engaged and the positive impact on our organization's atmosphere, we decided to invest," said Paulius Gedminas, head of the PVVG Holding family fund. "Moreover, 'Walk15' has a clear strategy for expanding in both the business and public sectors, demonstrating impressive growth metrics and gaining international recognition. Investing in 'Walk15' is a natural step when you see a product that not only creates value but also has a solid business model and a strong vision for expansion."
Lithuanian App Gaining International Recognition
The Lithuanian startup collaborates with prominent international partners, including EuroLeague, the REWE Group, Ergo, Gitex Europe, the GreenTech Festival, the European Association for People Management (EAPM), during UEFA EURO 2024 in Berlin engaged football fans from around the world in mobility and sustainability initiatives and etc.
According to the "Dealroom" report, "Walk15" has been recognized as one of the fastest-growing startups in Lithuania under the "Rising Star" category. It was also featured in the "Deloitte Technology Fast 50 Central Europe 2023" ranking and included in the "Sifted 30: Eastern Europe and Baltics Leaderboard" list, which ranks the fastest-growing startups in the region based on revenue growth.
"Walk15" aims to become one of Europe's leading sustainability and wellness technology platforms and establish itself as a market leader.
According to "Walk15" co-founder Vytautas Višinskis, the main goal of the company’s Series A round is to raise up to €5 million and secure participation from an international fund specializing in sustainability and public health.
"Walk15 provides a solution that helps companies engage their target audience—whether clients or employees—in step or cycling challenges. We see tremendous potential not only in the B2B segment but also among a broader consumer audience."
