• March 22, 2023
• by:crossoceanfund

Cross Ocean Ventures, the premier early-stage investment fund for international founders with global ambitions, announces investment in ROOK (previously known as RookMotion).ROOK is a B2B SaaS company on a mission to unlock a healthier world. ROOK’s API integrates and embeds health metrics from wearables into existing apps and software and generates data-driven recommendations.  

According to straits research, the global wearable fitness tracker market was valued at $45bn in 2021 and is expected to reach $192bn by 2030, growing at 17.5% CAGR. 

ROOK is a B2B SaaS play with an immediate focus on fitness, corp wellness/insurance in the medium term and digital health/clinical trials in the long run. Since its commercial launch in August of 2022, Rookmotion has already signed 11 enterprise customers at a value of $2.6 ARR.

Cross Ocean is one of many investors seeing the value. The $1.7M USD round is complemented by investors including NuFund Venture Group, AlliedVC, Harvard Business School Alumni Angels Chicago, Hilltop Venture Partners, InstaVC, IrieVC, IQ Ventures, Liebenthal, Mana Ventures, MCMA VC, Stadia Ventures, Techstars, and The SageHouse.

ROOK has also been accepted into the EndeavorLAB and Stadia Ventures accelerator programs and looks forward to active participation over the next 3-6 months.

“We are excited to exploring new opportunities and expanding our offerings through Cross Ocean Venture’s support.” said Marco Benitez, CEO of Rook

“ROOK is the only solution on the market that standardizes and normalizes health data in real-time and with greater detail. People love tracking their health & fitness data. There are more than 1 billion connected wearable devices worldwide, which continues to grow. The timing could not be better,” said Serhat Pala, General Partner at Cross Ocean. Rook’s AI models offer personalized recommendations based on user behavior, habits, and health status. Given the large and rapidly-expanding market for health & fitness data, we believe this current adoption trend among large-scale enterprises will continue,” he continued.  

This round of fundraising comes alongside a rebrand, as the company formerly known as RookMotion has shifted to a B2B SaaS focus. ROOK’s new brand identity better encapsulates and communicates who they are and what they do. Their vision for the future–going beyond the fitness world into healthcare, insurance, wellness, and more.

About Cross Ocean Ventures

Cross Ocean Ventures is the premier early-stage investment fund for international founders with global ambitions. As Cross Ocean Venture general partners, we have started companies, failed, and succeeded in building organizations with life-changing exits multiple times. We have immigrated from across the oceans to build enterprises. Our experiences as founders help us better connect with and evaluate founders before funding and communicate with and support the founders after funding.

For more information, visit https://crossoceanfund.com/

About ROOK

ROOK’s API empowers companies with more meaningful health data. Easily process and embed data from hundreds of wearables with a single integration and gain access to deeper understanding and more actionable insights that allow you to make more informed decisions, find better solutions, and drive innovation.For more information, visit https://www.tryrook.io/