EQT Growth leads USD 85 million financing round for Gympass

The $85 million F round of funding for Gympass, a global corporate wellness platform, will help accelerate growth in eleven markets.

Gympass offers more than two million members access to a network of over 50,000 gyms, classes, personal trainers and wellness apps through a single corporate benefit.

The $85 million investment will enable Gympass to accelerate growth across its eleven global markets. This comes primarily from increased interest from employers in reducing healthcare costs and improving employee wellbeing.

The strong business model, which relies on recurring revenue and is now established in eleven countries worldwide, is seeing increasingly clear and strong network effects as it scales.

Carolina Brochado, Deputy Head of the EQT Growth Advisory Team

EQT Growth will work with management and existing investors to help Gympass reach its next stage of growth. EQT Growth's expertise in digital business development will help expand Gympass' network and strengthen its position as a leading global platform.

The Series F financing round was led by EQT Growth in partnership with other investors, including Neuberger Berman. Carolina Brochado, Deputy Head of the EQT Growth Advisory Team, will join the Gympass Advisory Board.

Organizations are shifting from reactive, traditional healthcare benefits, which are costly, to more holistic and preventative measures that both reduce costs and improve employee well-being and productivity.

Cesar Carvalho, co-founder and CEO of Gympass

Gympass, founded in 2012, acts as an intermediary for companies that want to offer their employees access to fitness and wellness services. With over two million registered users worldwide, Gympass helps companies to promote the health and well-being of their employees.

Last year, Gympass saw an 80% increase in its customer base as companies recognized the benefits of the platform approach. According to the Gympass Work-Life-Wellness Report 2022, four out of five employees worldwide consider well-being at work to be as important as salary.

EQT Growth's investment will help Gympass expand its reach and further cement its leading position in the industry. This reflects a growing focus on employee health and wellbeing within organizations.