Gympass doubles valuation to $ 2.22 billion in commitment to corporate well-being
Gympass, the world’s largest corporate wellness platform, just announced that Softbank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group join their mission to universalize wellness with a new round investment of $ 220 million. .
As people return to gyms, Gympass’s valuation has reached $ 2.2 billion, reflecting companies increasingly valuing wellness around the world. In May alone, Gympass recorded a record 4 million monthly registrations across its network of more than 50,000 gyms around the world. Data which shows that the return to activity in the sector is higher than pre-pandemic levels and that more and more people are resuming physical activity in person. In this sense, the US and UK are the countries leading unprecedented growth in demand for in-person physical activity, a similar trend reflected in Latin America and Europe. Gympass is currently experiencing double-digit monthly growth in user numbers.
During the pandemic, more than 1,000 companies joined Gympass to tailor their corporate wellness programs with holistic, flexible and fair solutions that would accommodate hybrid work. Currently, companies such as Santander, Accenture, Unilever, KPMG or McDonalds offer the services of the app to their employees.
In the USA, Gympass also has partners such as Barry’s or F45, in addition to global applications such as Calm, LifeSum and Fabulous, which allow the platform to offer a wide range of complete and global well-being.
In the words of Gympass co-founder and CEO, Cesar Carvalho: “We have seen an increase in the number of visits to gyms and sports centers confirming that countries have started to reopen, so we expect even more progress. important as people start to come back. at the offices. We have created the most comprehensive wellness platform covering fitness, therapy, mindfulness and nutrition. With this new investment, we will be able to further drive growth in the United States, enhance the product experience, and expand into new categories, continuing our mission of making wellness universal. “
Gympass’s expansion beyond face-to-face physical activity, embracing new trends in digital fitness, has proven to be successful. Since March 2020, Gympass has recorded 3.5 million subscriptions to its digital offers. Data that has remained stable with the return of in-person activities, reinforcing that the future of corporate well-being is hybrid. According to Carvalho himself, “like the work model that combines telework and office, which many companies have already adopted in the wake of the pandemic, we are seeing a similar trend when it comes to fitness activities and of well-being. Now people are combining in-person visits to gyms and sports centers with digital services, using meditation and nutrition apps and other wellness solutions offered by Gympass. We have seen first-hand that this is a change to be pursued in the future and we look forward to expanding our reach and services to continue to support the general well-being of the people. “
Likewise, Softbank’s Shu Nyatta said, “It is surprising how Gympass is able to grow even further, at a time when the operating ecosystem has been so difficult. This platform is the wellness solution for the hybrid work model we know today, providing employees with options inside and outside the office ”. Further, Shu Nyatta adds that “the growth of the business over the past two years shows the potential of Gympass and I am delighted to continue working with Cesar and the team to accelerate their wellness strategy”.