EQT Growth leads $85 million financing round for Gympass

The $85 million F-financing round for Gympass, a global corporate wellness platform, is expected to help accelerate growth in 11 markets.

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

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

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

Carolina Brochado, Deputy Head of EQT Growth Advisory Team

EQT Growth will support Gympass in collaboration with management and existing investors to reach the 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 cooperation with other investors, including Neuberger Berman. Carolina Brochado, associate head of EQT Growth's Advisory team, will join Gympass' advisory board.

Organizations are shifting from reactive, traditional healthcare services, which are costly, to more holistic and preventive 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 looking to provide their employees with access to fitness and wellness services. With over two million registered users worldwide, Gympass helps companies promote the health and wellness of their employees.

In the past year, Gympass has seen an 80% increase in its customer base as companies recognized the benefits of its platform approach. According to the Gympass Work-Life Wellness Report 2022, four out of five employees worldwide consider workplace wellness as important as salary.

EQT Growth's investment will help Gympass expand its reach and further solidify its leadership position in the industry. This reflects a growing focus on employee health and well-being in organizations.