Gympass Raises $85M in Series F Funding, Bolstering Corporate Wellness Platform
Krissy Vann | Host, All Things Fitness and Wellness
Gympass, a leading corporate wellness platform, has successfully raised $85 million in a Series F funding round, propelling its valuation to $2.4 billion. EQT Growth led the funding initiative, with participation from Neuberger Berman on behalf of its client funds.
Despite economic challenges, Gympass experienced a momentous year, expanding its customer base by 80% to encompass over 15,000 corporate clients. The platform's expansive network, which includes more than 50,000 partners, now boasts over two million employee subscribers. This growth underscores the growing realization that employee well-being not only enhances productivity and retention but also reduces healthcare costs. Gympass' study revealed that active employees can potentially reduce company healthcare expenses by 35% within a year.
CEO and Co-Founder of Gympass, Cesar Carvalho, highlighted the company's role in transforming corporate wellness during a period where businesses are seeking cost-efficient growth. He emphasized the shift towards preventive wellness benefits that lower costs while enhancing employee well-being and productivity.
The funding will drive Gympass' global expansion and further innovations in its platform, enhancing the user experience for both employers and employees. The company's commitment to empowering employees on their wellness journeys aligns with the growing demand for well-being solutions in the corporate world.
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