Gympass, the leading global corporate wellness platform, has soared to new heights with a triumphant Series F funding round that secured a remarkable $85 million at a valuation of $2.4 billion.
Spearheaded by EQT Growth and enriched by the participation of Neuberger Berman, this funding achievement comes at a pivotal juncture for Gympass, underlining its steadfast progress in a transformative year.
Breaking records despite economic challenges, Gympass expanded its clientele by an astounding 80%, embracing over 15,000 corporate partners. Within its expansive network of more than 50,000 partners, the company has rallied more than two million employee subscribers.
This monumental growth is a testament to the resounding recognition that employee well-being stands as a cornerstone of organisational success, fuelling retention, happiness, productivity, and notably, a reduction in healthcare costs.
Amid this dynamic backdrop, a comprehensive study conducted by Gympass on the return on investment (ROI) of wellness programs discovered a staggering statistic: physically active employees can yield a remarkable 35% reduction in company healthcare costs over the course of a year.
“Gympass is revolutionizing corporate wellness at a time where every company is making investments to drive efficient growth and reduce spending,” enthused Cesar Carvalho, CEO and Co-Founder of Gympass.
He expressed that the company’s growth and funding success validate its pioneering approach in facilitating companies’ transition from traditional reactive healthcare models to holistic and preventive wellness programs.
Carolina Brochado, Deputy Head of the EQT Growth Advisory team, conveyed unreserved admiration for Gympass’ achievements, noting that their far-reaching and interconnected model is exhibiting powerful network effects across the global market.
This model’s reach, spanning 11 markets worldwide, offers a diverse array of wellness activities and facilities, making it accessible to an extended spectrum of employees.
As a trailblazer in the corporate wellness landscape since 2012, Gympass has been at the vanguard of innovation, consolidating gyms, studios, classes, personal trainers, and wellness apps under a single employee benefit.
With the ability to engage employees at unprecedented levels, Gympass more than doubles the participation in wellness activities on average.
As it continues to refine and innovate, Gympass will utilise its latest funding to galvanize global expansion and enhance the user experience for both employers and employees.
In an era where employee well-being transcends mere benefits and resonates as a fundamental necessity, Gympass stands poised to fulfill a pivotal role in driving positive change.
With a focus on global expansion, innovation, and fostering a sense of community, Gympass is forging ahead to empower employees to embark on their wellness journey with boundless vitality and united purpose.