Nespresso Professional UK
Nespresso Professional UK
Nespresso Professional UK
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
star job
Pendle Leisure Trust
£Competitive + fabulous benefits package
Nelson, Lancashire
City of London Corporation
£35,663 - £39,805pa + Local Govt Pension + benefits
Epping Forest, London
University of Leeds
£37,099 - £44,263pa + generous pension + benefits
Leeds
Swansea Council
£53,653 – £58,089pa
Swansea
star job
Redbridge Sports & Leisure
on request
Barkingside, Essex

Gympass raises US$85m, hits US$2.4bn value and logs its 300 millionth check-in

Gympass has completed a Series F funding round of US$85m
The deal has valued the company at US$2.4bn, up from US$2.2bn in 2021
The round was led by EQT Growth. General Atlantic and Moore Strategic Ventures are also increasing their interest in the business
Gympass reports that it has now recorded 300m check-ins up to July 2023. In March this year it said it had reached 250m. The 100m milestone was 18 months previous to that
Job opportunities
Brio Leisure
£35,745pa + excellent benefits
location: Chester and Frodsham, United Kingdom
more jobs

Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.

The announcement comes as the company reveals it's raised US$85m in Series F funding, led by EQT Growth.

For context, Gympass was valued at US$1bn in 2019, when it did a US$300m funding round with Softbank.

Existing investors General Atlantic and Moore Strategic Ventures are also increasing their interest in the business by purchasing shares from earlier investors and current and former employees.

The company, which was founded in Brazil in 2012, but is now based the US, will use the funding to continue its global expansion, from its current roster of 11 countries. It will also invest in product innovation for its main customer types – operators, corporates and employees.

Cesar Carvalho, CEO and co-founder said: “Organisations are shifting from reactive and traditional healthcare benefits that increase costs, to more holistic and preventative wellness benefits improve employee wellbeing and productivity while also reducing costs.

"Our new funding round validates our model and demonstrates that Gympass is uniquely positioned in any economic environment as companies seek partners to reduce healthcare costs and improve employee wellbeing."

Carolina Brochado, deputy head of the EQT growth advisory team said: ”Gympass’s powerful recurring model sees strong network effects the more it scales.

“This enables Gympass to deliver a diverse network of partners, reaching employees who might not previously have had access to wellness activities – as a result, further expanding the market.”

Gympass says it grew its customer base by 80 per cent in the year to July to 15,000 corporate customers. This has grown from 2,000 in 2019, so is one of the areas experiencing the most uplift.

Driving this performance is a network of 50,000 partners, including 24-Hour Fitness, Barry’s, Headspace, Life Time and Orangetheory.

This partner network was 47,000 in 2019, but has remained static at 50,000 since 2021, when the company did a Series E worth US$220.

Looking at total check-ins since launch, this number stood at 48m in July 2019, had reached 100m by July 2021 and 250m by March this year, It now stands at 300m (at July 2023), indicating the accelerating growth of the business.

Gympass has recently done deals with industry player, Les Mills, as well as integrating with software such as Xplor Gym.

Although Carvalho launched Gympass as a consumer aggregator, he smartly side-stepped this more competitive market within nine months of launch, pivoting to concentrate on corporates.

Companies in this market have a legal duty of care to safeguard the wellbeing of employees which is often connected to their public liability insurance.

They also have a financial interest in preventative healthcare for employees and recent research from Gympass found that getting employees physically active cuts company healthcare costs by 35 per cent.

At the point of its switch to the corporate market, Gympass wasn’t meeting even its most conservative targets, however, the first corporate customer – which was PricewaterhouseCoopers, – brought in 500 customers in the first three days of the partnership. “This was more than the company's accumulated retail customer base at that point,” Carvalho said at the time. "When we turned the key and focused only on the B2B market we knew we’d found our sweet spot, a real product/market fit."

Sign up for FREE ezines, news alerts & magazines
Related news

Getting employees physically active 'cuts company healthcare costs by 35 per cent'

18 Aug 2023
Companies which successfully encourage their employees to become more physically active could see their healthcare ...

Gympass signs global partnership with Magicline to power its control over gym check-ins

11 Apr 2023
Gympass has signed a global partnership with fitness tech firm Magicline, which will see the ...

Gen Z are 20% more likely to use employee wellness packages

09 Nov 2022
Corporate wellbeing platform Gympass has released a new report called The State of Work-Life Wellness. ...
Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.
PTS,HAF,FIT,IND,PTS,CPW,CAS
2023/THUMB351733_190299_771834.jpg

More News

1 - 15 of 67,987
21 Jun 2024
According to a year-long study, offering financial incentives to people to encourage them to lose weight is effective and could be a low-cost solution to ... More
20 Jun 2024
Xponential Fitness has appointed sales and franchise expert, Mark King, as CEO, to take the company forward following Anthony Geisler’s abrupt exit in May. King ... More
20 Jun 2024
Fitness influencer and karate champion, Anna Lewandowska, has announced the launch of a multi-concept boutique in Barcelona called Edan Studios based on HIIT, Pilates and ... More
20 Jun 2024
Turkish hospitality group Maxx Royal Resorts has launched a new upscale coastal retreat on Türkiye's Bodrum peninsula, complete with a large 4,500sq m destination spa. ... More
19 Jun 2024
Victoria Brownlie, the British Beauty Council’s chief of policy and sustainability, has been named in King Charles’ Birthday Honours 2024 for her services to the ... More
19 Jun 2024
The Health & Fitness Association (formerly IHRSA) has announced Singapore-based attorney and international industry advocate, Sean Tan, as its senior representative in Asia. In the ... More
19 Jun 2024
With the UK General Election imminent, industry strategist, Martyn Allison, says it’s time for the sector in the UK to stop asking for money and ... More
19 Jun 2024
Global restaurant brand, Subway, has teamed up with GB Basketball, Breaking GB and Skateboard GB to promote physical activity in these three emerging sports. The ... More
19 Jun 2024
A new retreat focused on helping people lead longer, happier lives is launching on the Japanese island of Okinawa. As one of the world's five ... More
18 Jun 2024
More than 20 organisations have joined together in the UK to form the Swim Alliance, which will advocate with one cohesive voice and work to ... More
18 Jun 2024
One&Only Resorts has introduced a new three-storey spa on the picturesque Greek island of Kéa, located at its recently launched oceanfront property, One&Only Kéa Island ... More
18 Jun 2024
According to a number of recent studies, semaglutide weight-loss drugs can be effective in treating depression, anxiety, dementia, addiction and some eating disorders. There is ... More
17 Jun 2024
German health and fitness operator, LifeFit Group, has found a new investor – Waterland Private Equity Investments. The deal is expected to complete later this ... More
16 Jun 2024
Virtual reality creators Excurio has teamed up with experts from The Muséum National d'Histoire Naturelle to create Life Chronicles London, a free-roaming VR experience. Visitors ... More
15 Jun 2024
More than 200 organisations and athletes in the UK have signed an open letter to party leaders to commit to making the nation the most ... More
1 - 15 of 67,987
Nespresso Professional UK
Nespresso Professional UK