iRace
iRace.vn is Vietnam's leading online running platform with 650,000+ members, offering a self-service virtual race platform (app.irace.vn) that enables businesses, running clubs, and individuals to create GPS-verified virtual events, complemented by ticketing, merchandise, and iFitness retail sub-brand.
- Company typePrivate
- Founded2021
- HeadquartersHo Chi Minh City, Vietnam
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What iRace does
iRace (iRace.vn) is a Vietnam-based online sports platform founded in Ho Chi Minh City that operates as the country's leading virtual running community with over 650,000 members. The company's core product is a self-service Virtual Race Platform (app.irace.vn) that enables businesses, running clubs, schools, charities, and individuals to create and manage virtual running, cycling, and triathlon events without programming knowledge. The platform supports GPS-based activity verification through a proprietary anti-fraud system with 22 configurable rules (pace limits, device limits, virtual GPS detection, split pace monitoring), automatic result synchronization from Strava, Garmin, Suunto, Fitbit, and Google Fit, customizable white-label landing pages with branded EBIB and ECert certificates, real-time multi-criteria leaderboards, and report export capabilities.
The business model spans four revenue streams: pay-as-you-go subscription packages for virtual race creation with flexible pricing by participant count (with discount codes iRaceDN5/iRaceDN10), transaction fees from event ticket sales (ticket.irace.vn) for online and offline events, merchandise revenue from in-house medal design/production and sportswear manufacturing, and an affiliate referral program. A complementary sub-brand, iFitness (ifitness.vn), sells sports nutrition and accessories. Distribution is hybrid: product-led growth through self-serve web apps for SMBs and individual runners, plus direct enterprise field sales for corporate teambuilding packages. Sponsorship revenue from a network of Vietnamese banks (ACB, BIDV, MB Bank, VPBank, SCB, SaigonBank, MCredit) and global sportswear brands (Decathlon, New Balance, Adidas, Skechers) supplements the core revenue mix.
The company operates with 11-50 employees, has served 150+ enterprise clients and facilitated 300+ events, and is led by CEO Tran Ngoc Chinh. iRace is privately held with no disclosed institutional investors, no funding rounds on record, and operates exclusively in the Vietnamese market with no public international expansion signals. The platform has expanded content coverage into Pickleball, triathlon, and cycling verticals and offers ancillary services including MyFoto (event photo finder) and event merchandise production to deepen the value chain within its sports-community ecosystem.
iRace firmographics
Firmographics- Name
- iRace
- Website
- https://irace.vn
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- iRace.vn is Vietnam's leading online running platform with 650,000+ members, offering a self-service virtual race platform (app.irace.vn) that enables businesses, running clubs, and individuals to create GPS-verified virtual events, complemented by ticketing, merchandise, and iFitness retail sub-brand.
- Ownership category
- akta.pro rank
iRace industry classification
Industry- Product category
- Virtual Race & Sports Event Management Software
- NAICS
- Convention and Trade Show Organizers (56192)
- SIC
- Services-Miscellaneous Amusement & Recreation (7990), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Ticketing, Registration & Event Technology (Badging, Apps) (BPAFAGAL)
- akta.pro secondary industry
- Virtual Event Registration, Ticketing & Access Control (Authentication, Paywalls, Badging) (THAHAOAI)
Keywords
Where iRace is headquartered
LocationHeadquarters
- HQ city
- Ho Chi Minh City
- HQ country
- Vietnam
- HQ region
- Asia
Markets served
iRace business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Supply Chain
Revenue model
- Virtual Race Package Sales: Organizations pay for packages to create virtual races, with pricing flexible based on number of participants. Users select packages at app.irace.vn/challenge/package with discount codes available (iRaceDN5 for 5% off, iRaceDN10 for 10% off). No contract required - just select, pay and use immediately.
- Event Ticket Sales: Platform sells tickets for both online and offline running events in Vietnam through ticket.irace.vn
- Merchandise Production: Production and sales of medals and sports clothing/accessories for events
- Affiliate Program: Earn money through iRace.vn affiliate program
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Business/Corporate Virtual Race Packages |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
iRace product offering
Product offeringCore offering
iRace operates a self-service Virtual Race Platform (app.irace.vn) that enables businesses, running clubs, and individuals to create and manage GPS-tracked virtual running events without programming knowledge in 1-3 hours. The platform includes anti-fraud verification, automatic result synchronization from major fitness apps, customizable landing pages, branded EBIB/ECert, and real-time leaderboards, complemented by an event ticketing system (ticket.irace.vn), medal and apparel production services, and an integrated sports retail shop (ifitness.vn).
Product overview
iRace is Vietnam's #1 online running platform that operates as a comprehensive ecosystem for virtual and offline running events. The core offering is the Virtual Race Platform (app.irace.vn) which enables organizations to create and manage virtual running events with features including custom landing pages, anti-cheat systems, multi-criteria leaderboards, and automatic result synchronization from fitness tracking apps. The platform integrates with ticket sales (ticket.irace.vn) and offers supplementary services such as MyFoto for event photo management, medal design/production, and sports apparel manufacturing. The ecosystem also includes iFitness, a related sports nutrition and accessories retail brand. The platform supports sports including running, cycling, and swimming, with approximately 650,000 members and partnerships with over 150 businesses.
Differentiator
Problem solved
Functional benefit
Products and services
- Virtual Race Platform A web-based self-service platform enabling businesses, running clubs, schools, and individuals to create and manage GPS-tracked virtual running events in 1-3 hours without programming. Includes anti-cheat verification, real-time leaderboards, customizable branding, and automatic result sync from Strava, Garmin, Suunto, Fitbit, and Google Fit.
- Ticket Sales System Online ticketing system selling tickets for both offline and online running events held in Vietnam, accessible via ticket.irace.vn.
- MyFoto (Event Photo Finder) Service that helps event participants find and access their photos from running events they have participated in.
- Medal Design and Production Custom design and manufacturing service for event medals, awards, and finisher tokens used in running events organized through the platform.
- Sports Clothing and Accessories Production Manufacturing service for event-related sportswear, branded clothing, and sports accessories supplied to event organizers.
- iFitness Sports Shop Related retail storefront selling sports nutrition (gels, electrolyte recovery) and sports accessories (Pickleball and running gear) to consumers, with cross-promotion from the iRace community.
Quantifiable outcome
- Create a complete virtual race event in 1-3 hours
- +2 more outcomes
Companies that use iRace
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles6 records
iRace technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature7 records
iRace partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered minor and core.
- ACB (Á Châu Bank)minorBanking partner sponsoring iRace events. ACB logo appears in partner section indicating corporate sponsorship of running events.
- SCB BankminorCorporate sponsor appearing in iRace partner section for events.
- BIDVminorMajor Vietnamese bank sponsoring iRace events and running competitions.
- MB BankminorMilitary Commercial Joint Stock Bank partner for iRace corporate events.
- VPBankminorVietnam Prosperity Bank sponsoring running events on platform.
- SaigonBankminorSaigon Bank for Industry and Trade partner for corporate events.
- MCreditminorConsumer finance company sponsoring iRace events.
- DecathlonminorSports equipment retailer sponsoring running events on iRace platform.
- New BalanceminorRunning shoe brand sponsoring iRace running events.
- AdidasminorGlobal sportswear brand sponsoring iRace events.
- SkechersminorFootwear brand sponsoring running events on platform.
- SuperSportsminorSports retail chain partner for iRace events.
- AIAminorInsurance company sponsoring running events for health and wellness.
- MotulminorLubricant and sports nutrition brand sponsoring events.
- WiprominorIT services company listed as partner for corporate events.
- StravacorePrimary activity tracking integration. iRace supports result synchronization from Strava, including GPS tracking data for virtual race verification.
- GarmincoreGPS watch integration for activity tracking and synchronization with iRace platform.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
iRace competitors and assessment
Company assessmentEmerging players
- Strava: Strava is a leading fitness tracking platform with social running/cycling community features. Comparable as a competitor for user engagement and a key integration partner whose API iRace depends on for activity ingestion.
- LetsDoThis: LetsDoThis is an endurance event discovery and booking platform. Comparable to iRace in connecting runners with events, though more discovery-led and operating primarily in Western markets.
Broad incumbents
- Ticketmaster: Ticketmaster is a global ticketing incumbent serving large-scale live events. Comparable on ticketing infrastructure and event access control, though not specialized in virtual or running events.
- Active.com: Active.com is a large US event registration platform covering running, triathlon, and other endurance sports. Comparable on event registration and ticketing for endurance events, though not focused on virtual races.
- Eventbrite: Eventbrite is a global ticketing and event technology platform serving a wide range of event categories. Comparable to iRace on ticketing infrastructure but broader in scope and not specialized in virtual running races.
Direct peers
- RunSignup: RunSignup is a US-based race registration and event management platform serving thousands of running events with ticketing, results, and timing. It is the closest functional peer to iRace's virtual race and event registration offering.
- ChronoTrack Systems: ChronoTrack offers race timing, registration, and results software for running events. Comparable to iRace in serving race organizers with technology, though more focused on timing hardware than virtual races.
- Race Roster: Race Roster provides online registration, virtual race, and event management tools for running events globally. Directly comparable to iRace's self-serve virtual race platform with anti-cheat and leaderboard features.
Regional players
- VMG Sport: VMG Sport organizes and manages major running events in Vietnam. Comparable as a regional player operating in the same Vietnamese running event market where iRace sells tickets and virtual race infrastructure.
- Vietnam Runners: Vietnam Runners is a prominent Vietnamese running community and event organizer. Comparable as a regional player in the same Vietnamese running community iRace serves, though more focused on offline events and content.
Market position
Strengths3 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
iRace social profiles
Digital presenceiRace financial estimates
Financial estimateRevenue estimate
Valuation estimate
iRace leadership team
Management profileNumber of profiles
Profiles1 record
iRace funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
iRace M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about iRace
What does iRace do?
iRace operates a self-service Virtual Race Platform (app.irace.vn) that enables businesses, running clubs, and individuals to create and manage GPS-tracked virtual running events without programming knowledge in 1-3 hours. The platform includes anti-fraud verification, automatic result synchronization from major fitness apps, customizable landing pages, branded EBIB/ECert, and real-time leaderboards, complemented by an event ticketing system (ticket.irace.vn), medal and apparel production services, and an integrated sports retail shop (ifitness.vn).
Is iRace a public or private company?
iRace is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was iRace founded?
iRace was founded in 2021. It employs 11 to 50 people.
Where is iRace based?
iRace is headquartered in Ho Chi Minh City, Vietnam, in the Asia region.
How does iRace make money?
Four revenue lines are on record. Virtual Race Package Sales are the primary driver. The others are event Ticket Sales, merchandise Production and affiliate Program.
Who are iRace's main competitors?
Emerging players on record are Strava and LetsDoThis. Broad incumbents are Ticketmaster, Active.com and Eventbrite. Direct peers are RunSignup, ChronoTrack Systems and Race Roster. Regional players are VMG Sport and Vietnam Runners.
Does iRace have an API?
No public API is recorded for iRace.
What industry is iRace in?
iRace's product category is Virtual Race & Sports Event Management Software. Its primary akta.pro industry code is BPAFAGAL, Ticketing, Registration & Event Technology (Badging, Apps), with a secondary code of THAHAOAI, Virtual Event Registration, Ticketing & Access Control (Authentication, Paywalls, Badging). Its NAICS code is 56192 and its SIC code is 7990.