Some startups aim to disrupt a traditional industry. Others see more value in reorganizing it.
Ladder, an app-based managed marketplace for health and wellness coaching, counts itself amongst the latter.
The startup, which recently moved from Boston to Austin, doesn't shy from the fact that there are thousands of products and services available in the massive commercial fitness space. Think Fitbit, Peloton or even your local YMCA -- not to mention all the meetups and Craigslist ads.
"We think that there are a lot of great products out there for people who are self-accountable. But for people who need a little bit more help along the way, there are not a lot of great products," said Ladder President and COO Tom Digan. "We believe people have to do the work, but they don’t have to do it alone.”
Instead of disrupting with an entirely new gadget, Ladder has developed a marketplace that matches trainers and coaches with those who are looking to lose weight and get in shape. While the company is run mostly by engineers and the app includes an array of digital functions, Ladder's success hinges largely on the quality of the coaches on the platform.
“We definitely feel that we’re not so much disrupting the space as reorganizing the space,” Digan said.
Personal trainers often have trouble filling gaps in their schedules with income-earning work, and Ladder provides an opportunity for them to bring in additional income even when they're not working face-to-face with a client.
The app asks users a variety of questions, such as whether you belong to a gym, what equipment you have access to and what kind of trainer you'd like (male, female, analytical, motivational and so forth). It then offers three potential coaches to work with, along with their profiles and testimonials. Once you've been matched, you discuss your goals with your coach and they develop a personalized plan.
Along the way, you stay in touch with your trainer, see movement videos and you can record your progress as you go.
Digan said Ladder has a relatively stable group of trainers. And it's continually evaluating them on how long it takes them to respond to users and what users say about them.
“With any marketplace you really have to curate the supply,” he said. “And this does require a higher level of curation on the supply side.”
All of the interactions on Ladder are digital, although if you are a member at a gym where a coach works, you can set up face-to-face meetings to supplement the digital ones.
Users on Ladder's annual plan pay $15.99 a month. A quarterly subscription comes out to $29.99 a month, and a one month plan is $49.99.
Ladder, led by co-founder and CEO Brett Maloley, currently has 17 employees.
They're working out of an Airbnb rental home. But next month, they plan to move into a new space at The Yard in South Austin. The new space, which is close to St. Elmo Brewery and several other new businesses, will have a personal training gym that's spruced up by local graffiti artists and helps show off what Ladder is all about.
Ladder has raised an undisclosed amount of funding from a combination of individual VCs, family offices and strategic investors.
Digan said that Ladder sees enormous potential for its app to not only provide an alternative for people who are trying to improve their health but as an option for doctors and insurance companies that are interested in helping patients improve their health.
For example, when someone is facing a chronic health issue that isn't addressed by drugs or surgery, many physicians have told Ladder they'd like to be able to offer affordable options that help people improve their situation -- not just a food pyramid and print out of lifestyle changes.
Still, Digan said Ladder and every other fitness company still need people who truly want to make a change.
“There’s no quick fix," he said. "We believe it’s about figuring out the plan that’s right for you to achieve those goals -- and then sticking with it.”
