Gympass, a Brazilian B2B gym membership platform with global operations, raised a USD220m Series E from SoftBank, General Atlantic, KASZEK, Valor Capital Group and Moore Strategic Ventures, at a reported USD2.2b valuation. Gympass raised USD300m in 2019 at a reported USD1b valuation.
(TechCrunch) – Gympass, the exercise and corporate wellness unicorn that originated in Brazil, today announced a $220 million Series E. The company has seen tremendous growth in the last few months, as more and more people are vaccinated and flocking back to the gym.
Gympass is like ClassPass, but on steroids. However, unlike ClassPass’ BTC and B2B model, Gympass partners only with employers who then pay a flat fee for the platform (an app) which then allows their employees to choose from several wellbeing plans that give them access to myriad in-person gyms and studios, and a directory of health apps, such as Calm. The offerings are broken up into the following categories: physical health, emotional health, nutrition and sleep. ClassPass already has clients like Google and Morgan Stanley on board.
According to the company, in May, Gympass saw a record 4 million monthly check-ins across its network of more than 50,000 global partners. In fact, for some of the partners, usage hit above pre-COVID levels.
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