iRace

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.

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

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

• Virtual race platform
• Online running events
• Corporate wellness software
• GPS activity tracking
• Event ticketing system

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Supply Chain

Revenue model

1. 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.
2. Event Ticket Sales: Platform sells tickets for both online and offline running events in Vietnam through ticket.irace.vn
3. Merchandise Production: Production and sales of medals and sports clothing/accessories for events
4. Affiliate Program: Earn money through iRace.vn affiliate program

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core 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

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature7 records

Partnerships

17 partnerships are on record, tiered minor and core.

• ACB (Á Châu Bank)minorOthersBanking partner sponsoring iRace events. ACB logo appears in partner section indicating corporate sponsorship of running events.
• SCB BankminorOthersCorporate sponsor appearing in iRace partner section for events.
• BIDVminorOthersMajor Vietnamese bank sponsoring iRace events and running competitions.
• MB BankminorOthersMilitary Commercial Joint Stock Bank partner for iRace corporate events.
• VPBankminorOthersVietnam Prosperity Bank sponsoring running events on platform.
• SaigonBankminorOthersSaigon Bank for Industry and Trade partner for corporate events.
• MCreditminorOthersConsumer finance company sponsoring iRace events.
• DecathlonminorOthersSports equipment retailer sponsoring running events on iRace platform.
• New BalanceminorOthersRunning shoe brand sponsoring iRace running events.
• AdidasminorOthersGlobal sportswear brand sponsoring iRace events.
• SkechersminorOthersFootwear brand sponsoring running events on platform.
• SuperSportsminorOthersSports retail chain partner for iRace events.
• AIAminorOthersInsurance company sponsoring running events for health and wellness.
• MotulminorOthersLubricant and sports nutrition brand sponsoring events.
• WiprominorOthersIT services company listed as partner for corporate events.
• StravacoreTechnology or IntegrationPrimary activity tracking integration. iRace supports result synchronization from Strava, including GPS tracking data for virtual race verification.
• GarmincoreTechnology or IntegrationGPS watch integration for activity tracking and synchronization with iRace platform.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Emerging 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

• Facebookfacebook.com/iRace.vn
• LinkedInlinkedin.com/company/iracevietnam

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iRace