EGYM Raises $200 Million in Growth Capital, Valuation Surpasses $1 Billion
Krissy Vann | Host, All Things Fitness and Wellness
EGYM has raised approximately $200 million in growth capital, pushing its valuation to over $1 billion. The funding round was led by L Catterton, a global consumer-focused investment firm, and Meritech Capital, a Silicon Valley-based venture firm. EGYM plans to use the investment to further develop its innovative digital solutions and smart strength equipment while expanding its EGYM Wellpass corporate wellness network.
EGYM has established itself as a leader in combining fitness and healthcare through data-driven, personalized training. The company’s technology allows gym operators to offer AI-driven workouts, health tracking, and interconnected fitness experiences across a variety of fitness clubs. With its smart strength equipment and software, EGYM aims to enhance member engagement and retention, creating a more personalized experience for gym-goers.
Marc Magliacano, Managing Partner at L Catterton, stated, "I am convinced that EGYM will help to revolutionize the way people workout in gyms across the globe. EGYM’s technology enables gyms to become far more appealing and effective to both experienced and new gym members through unprecedented personalization and measurement."
Paul Madera, Co-Founder and Partner at Meritech, added, "EGYM has impressed us with their ability to bring a huge vision – one that was particularly challenging to execute in the early stages – to market so successfully. EGYM now offers employers a truly technology-driven solution that increases employee wellbeing and productivity while reducing sick days and healthcare costs."
EGYM’s Wellpass corporate wellness platform currently connects 17,000 sports partners and 14,000 corporate customers, reaching over three million eligible employees. The company's AI-based software, EGYM Genius, uses training data to create automated, customized fitness plans for individuals based on their unique capabilities. This system is integrated with over 200 partner brands, allowing EGYM to deliver seamless and effective training solutions across 18,000 fitness and health facilities worldwide.
Philipp Roesch-Schlanderer, CEO of EGYM, commented, "L Catterton and Meritech were my two absolute dream investors for our mission to build the leading global platform at the intersection of fitness and healthtech. With Marc and Paul, we are strengthening our board with both fitness industry and technology experts. They share our vision of turning the world’s largest market, the healthcare industry, from repair to prevention."
With a 700-person team, EGYM is now looking to leverage its success in Europe as it expands into the U.S. fitness market and beyond.
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Credit: [solidcore]