Early bird
tickets
available now!
GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window I've already subscribed!
Savills
Savills
Savills
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn
FITNESS, HEALTH, WELLNESS

Latest news

Gympass raises US$85m, hits US$2.4bn value and logs its 300 millionth check-in

Gympass has completed a Series F funding round of US$85m
The deal has valued the company at US$2.4bn, up from US$2.2bn in 2021
The round was led by EQT Growth. General Atlantic and Moore Strategic Ventures are also increasing their interest in the business
Gympass reports that it has now recorded 300m check-ins up to July 2023. In March this year it said it had reached 250m. The 100m milestone was 18 months previous to that

Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.

The announcement comes as the company reveals it's raised US$85m in Series F funding, led by EQT Growth.

For context, Gympass was valued at US$1bn in 2019, when it did a US$300m funding round with Softbank.

Existing investors General Atlantic and Moore Strategic Ventures are also increasing their interest in the business by purchasing shares from earlier investors and current and former employees.

The company, which was founded in Brazil in 2012, but is now based the US, will use the funding to continue its global expansion, from its current roster of 11 countries. It will also invest in product innovation for its main customer types – operators, corporates and employees.

Cesar Carvalho, CEO and co-founder said: “Organisations are shifting from reactive and traditional healthcare benefits that increase costs, to more holistic and preventative wellness benefits improve employee wellbeing and productivity while also reducing costs.

"Our new funding round validates our model and demonstrates that Gympass is uniquely positioned in any economic environment as companies seek partners to reduce healthcare costs and improve employee wellbeing."

Carolina Brochado, deputy head of the EQT growth advisory team said: ”Gympass’s powerful recurring model sees strong network effects the more it scales.

“This enables Gympass to deliver a diverse network of partners, reaching employees who might not previously have had access to wellness activities – as a result, further expanding the market.”

Gympass says it grew its customer base by 80 per cent in the year to July to 15,000 corporate customers. This has grown from 2,000 in 2019, so is one of the areas experiencing the most uplift.

Driving this performance is a network of 50,000 partners, including 24-Hour Fitness, Barry’s, Headspace, Life Time and Orangetheory.

This partner network was 47,000 in 2019, but has remained static at 50,000 since 2021, when the company did a Series E worth US$220.

Looking at total check-ins since launch, this number stood at 48m in July 2019, had reached 100m by July 2021 and 250m by March this year, It now stands at 300m (at July 2023), indicating the accelerating growth of the business.

Gympass has recently done deals with industry player, Les Mills, as well as integrating with software such as Xplor Gym.

Although Carvalho launched Gympass as a consumer aggregator, he smartly side-stepped this more competitive market within nine months of launch, pivoting to concentrate on corporates.

Companies in this market have a legal duty of care to safeguard the wellbeing of employees which is often connected to their public liability insurance.

They also have a financial interest in preventative healthcare for employees and recent research from Gympass found that getting employees physically active cuts company healthcare costs by 35 per cent.

At the point of its switch to the corporate market, Gympass wasn’t meeting even its most conservative targets, however, the first corporate customer – which was PricewaterhouseCoopers, – brought in 500 customers in the first three days of the partnership. “This was more than the company's accumulated retail customer base at that point,” Carvalho said at the time. "When we turned the key and focused only on the B2B market we knew we’d found our sweet spot, a real product/market fit."

Related news

Getting employees physically active 'cuts company healthcare costs by 35 per cent'

18 Aug 2023
Companies which successfully encourage their employees to become more physically active could see their healthcare ...

Gympass signs global partnership with Magicline to power its control over gym check-ins

11 Apr 2023
Gympass has signed a global partnership with fitness tech firm Magicline, which will see the ...

Gen Z are 20% more likely to use employee wellness packages

09 Nov 2022
Corporate wellbeing platform Gympass has released a new report called The State of Work-Life Wellness. ...
Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.
PTS,HAF,FIT,IND,PTS,CPW,CAS
2023/THUMB351733_190299_771834.jpg
Latest News
Urban Gym Group CEO Neil Randall talks in this month’s HCM about how being passed ...
Latest News
Boxing and strength franchise UBX has taken a step closer to realising its ambitions to ...
Latest News
Fitness International has announced the acquisition of XSport Fitness, adding to its portfolio of brands, ...
Latest News
Community Leisure UK (CLUK) and The Richmond Group of Charities have joined forces to support ...
Latest News
Mental Health Swims has been awarded almost £18,000 of lottery money to extend its mission ...
Latest News
Employee wellness app GoJoe has teamed up with Les Mills for a major new content ...
Latest News
Former footballer, David Beckham, has become a strategic investor in health sciences company, Prenetics, which ...
Latest News
Gymbox has partnered with Haringey Council and not-for-profit organisation, Raza Sana, to give opportunities to ...
HCM promotional features
Sponsored
Since EGYM launched at Vivacity, the team has onboarded more than 1,200 members, with a retention rate of 85%
HCM promotional features
Sponsored
Green Gym Group partnered with Xplor Gym for an all-in-one gym management software solution to save time and improve the member experience
HCM promotional features
Sponsored
Sustainability in the fitness industry is coming on in leaps and bounds as more operators refurbish their gym equipment to save money and the planet
HCM promotional features
Sponsored
At the heart of the Sydney Swans new headquarters in Australia is an elite player-focused training facility by strength equipment specialist BLK BOX
HCM promotional features
Sponsored
Life Fitness has reimagined cardio with the launch of its Symbio line which has been designed with advanced biomechanics and offers deep levels of customisation
HCM promotional features
Sponsored
A major refurbishment of Sport Ireland Fitness by Technogym has created a world-class public gym at the home of Irish sport
HCM promotional features
Sponsored
We all know we need to stand more. Now an exciting new partnership between Physical and Teca Fitness expands this thinking into UK gyms and beyond
HCM promotional features
Sponsored
Coaching workshops from Keith Smith and Adam Daniel have been designed to empower your team and transform your service
HCM promotional features
HCM magazine
The Maybourne Group has unveiled its all-new London hotel The Emory. Megan Whitby goes behind the scenes at Surrenne, its cutting-edge health and wellness club
HCM magazine
Disappointment about being passed over for promotion gave Neil Randall, the resilience he needed to climb the ranks. He talks to Kath Hudson about the challenges he faced early in his career and the skills he learned from them
HCM magazine
Indoor bikes may remain stationary, but the discipline is in constant motion. Innovators tell Steph Eaves how they’re keeping pace with the latest trends
HCM magazine
Dr Tim Anstiss is developing coachbots that are supporting positive behaviour change for operators such as Life Leisure and KA Leisure
HCM magazine
A new study has found major differences in the way males and females utilise fat during exercise, as Kath Hudson reports
Featured supplier news
Featured supplier news: THFI’s new online coaching course partners with FITR: launch your business confidently post-completion
In today's rapidly evolving fitness industry, where many online courses promise secret formulas for entrepreneurial success, the reality is that few provide the necessary knowledge to thrive in this fast-changing profession.
Featured supplier news
Featured supplier news: Altrafit introduces custom functional fitness equipment at Third Space
Altrafit has taken further steps to cement its reputation as a provider of high-quality, affordable functional fitness equipment that is built to last with the development and introduction of a new functional fitness keg for luxury gym operator, Third Space.
Company profiles
Company profile: Places Leisure
Places Leisure aims to enlighten our communities about the benefits of a healthy lifestyle in ...
Company profiles
Company profile: Study Active
Study Active is a UK leading provider of health & fitness qualifications including Gym Instructing ...
Supplier Showcases
Supplier showcase - Safe Space: Delivering the vision
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Servicesport UK Limited press release: ServiceSport UK awarded Ministry of Justice contract for gym equipment maintenance in prisons
In a significant milestone, ServiceSport UK proudly announces that we have been awarded the prestigious Ministry of Justice contract for the inspection, service, and maintenance of PE equipment across 106 public prisons in England and Wales.
Featured press releases
Alliance Leisure Services (Design, Build and Fund) press release: Alliance Leisure celebrates official opening of its first Leisure Local Health Hub
This month sees the official opening of a brand new, £9 million Health Hub in Nottinghamshire. Based on Sport England’s Leisure Local model, the new community provision delivers a host of leisure facilities designed to bring new active living opportunities to the whole community.
Directory
Spa software
SpaBooker: Spa software
Cryotherapy
Art of Cryo: Cryotherapy
Salt therapy products
Himalayan Source: Salt therapy products
Lockers
Crown Sports Lockers: Lockers
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Snowroom
TechnoAlpin SpA: Snowroom
Property & Tenders
Jersey
Jersey War Tunnels
Property & Tenders
Chiswick, Gillingham, York and Nottingham
Savills
Property & Tenders
Diary dates
03-05 Sep 2024
IMPACT Exhibition Center, Bangkok, Thailand
Diary dates
08-10 Sep 2024
Wyndham® Lake Buena Vista Disney Springs™ Resort, Lake Buena Vista, United States
Diary dates
19-19 Sep 2024
The Salil Hotel Riverside - Bangkok, Bangkok 10120, Thailand
Diary dates
20-22 Sep 2024
Locations worldwide,
Diary dates
01-04 Oct 2024
REVĪVŌ Wellness Resort Nusa Dua Bali, Kabupaten Badung, Indonesia
Diary dates
09-13 Oct 2024
Soneva Fushi, Maldives
Diary dates
10 Oct 2024
QEII Conference Centre, London,
Diary dates
22-25 Oct 2024
Messe Stuttgart, Germany
Diary dates
24-24 Oct 2024
QEII Conference Centre, London, United Kingdom
Diary dates
04-07 Nov 2024
In person, St Andrews, United Kingdom
Diary dates
04-06 Feb 2025
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
11-13 Feb 2025
Fairmont Riyadh , Saudi Arabia
Diary dates
10-13 Apr 2025
Exhibition Centre , Cologne, Germany
Diary dates
07-07 Jun 2025
Worldwide, Various,
Diary dates
28-31 Oct 2025
Koelnmesse, Cologne, Germany
Diary dates

Latest news

Gympass raises US$85m, hits US$2.4bn value and logs its 300 millionth check-in

Gympass has completed a Series F funding round of US$85m
The deal has valued the company at US$2.4bn, up from US$2.2bn in 2021
The round was led by EQT Growth. General Atlantic and Moore Strategic Ventures are also increasing their interest in the business
Gympass reports that it has now recorded 300m check-ins up to July 2023. In March this year it said it had reached 250m. The 100m milestone was 18 months previous to that

Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.

The announcement comes as the company reveals it's raised US$85m in Series F funding, led by EQT Growth.

For context, Gympass was valued at US$1bn in 2019, when it did a US$300m funding round with Softbank.

Existing investors General Atlantic and Moore Strategic Ventures are also increasing their interest in the business by purchasing shares from earlier investors and current and former employees.

The company, which was founded in Brazil in 2012, but is now based the US, will use the funding to continue its global expansion, from its current roster of 11 countries. It will also invest in product innovation for its main customer types – operators, corporates and employees.

Cesar Carvalho, CEO and co-founder said: “Organisations are shifting from reactive and traditional healthcare benefits that increase costs, to more holistic and preventative wellness benefits improve employee wellbeing and productivity while also reducing costs.

"Our new funding round validates our model and demonstrates that Gympass is uniquely positioned in any economic environment as companies seek partners to reduce healthcare costs and improve employee wellbeing."

Carolina Brochado, deputy head of the EQT growth advisory team said: ”Gympass’s powerful recurring model sees strong network effects the more it scales.

“This enables Gympass to deliver a diverse network of partners, reaching employees who might not previously have had access to wellness activities – as a result, further expanding the market.”

Gympass says it grew its customer base by 80 per cent in the year to July to 15,000 corporate customers. This has grown from 2,000 in 2019, so is one of the areas experiencing the most uplift.

Driving this performance is a network of 50,000 partners, including 24-Hour Fitness, Barry’s, Headspace, Life Time and Orangetheory.

This partner network was 47,000 in 2019, but has remained static at 50,000 since 2021, when the company did a Series E worth US$220.

Looking at total check-ins since launch, this number stood at 48m in July 2019, had reached 100m by July 2021 and 250m by March this year, It now stands at 300m (at July 2023), indicating the accelerating growth of the business.

Gympass has recently done deals with industry player, Les Mills, as well as integrating with software such as Xplor Gym.

Although Carvalho launched Gympass as a consumer aggregator, he smartly side-stepped this more competitive market within nine months of launch, pivoting to concentrate on corporates.

Companies in this market have a legal duty of care to safeguard the wellbeing of employees which is often connected to their public liability insurance.

They also have a financial interest in preventative healthcare for employees and recent research from Gympass found that getting employees physically active cuts company healthcare costs by 35 per cent.

At the point of its switch to the corporate market, Gympass wasn’t meeting even its most conservative targets, however, the first corporate customer – which was PricewaterhouseCoopers, – brought in 500 customers in the first three days of the partnership. “This was more than the company's accumulated retail customer base at that point,” Carvalho said at the time. "When we turned the key and focused only on the B2B market we knew we’d found our sweet spot, a real product/market fit."

Related news

Getting employees physically active 'cuts company healthcare costs by 35 per cent'

18 Aug 2023
Companies which successfully encourage their employees to become more physically active could see their healthcare ...

Gympass signs global partnership with Magicline to power its control over gym check-ins

11 Apr 2023
Gympass has signed a global partnership with fitness tech firm Magicline, which will see the ...

Gen Z are 20% more likely to use employee wellness packages

09 Nov 2022
Corporate wellbeing platform Gympass has released a new report called The State of Work-Life Wellness. ...
Gympass, the aggregator which specialises in corporate wellbeing, has achieved a US$2.4bn valuation, up from US$2.2bn two years ago.
PTS,HAF,FIT,IND,PTS,CPW,CAS
2023/THUMB351733_190299_771834.jpg

Latest news

Urban Gym Group CEO Neil Randall talks in this month’s HCM about how being passed
Boxing and strength franchise UBX has taken a step closer to realising its ambitions to
Fitness International has announced the acquisition of XSport Fitness, adding to its portfolio of brands,
Community Leisure UK (CLUK) and The Richmond Group of Charities have joined forces to support
Mental Health Swims has been awarded almost £18,000 of lottery money to extend its mission
Employee wellness app GoJoe has teamed up with Les Mills for a major new content
Alliance Leisure
Alliance Leisure
In today's rapidly evolving fitness industry, where many online courses promise secret formulas for entrepreneurial
Former footballer, David Beckham, has become a strategic investor in health sciences company, Prenetics, which
Gymbox has partnered with Haringey Council and not-for-profit organisation, Raza Sana, to give opportunities to
In a bid to get girls more active, Nuffield Health has launched a campaign, Move
Sport for Confidence CIC has received a national award for its pioneering work hardwiring occupational
Mindbody, has launched a specialist insurance programme for its customers which is being delivered through
After introducing Xponential’s reformer Pilates concept, Club Pilates, to Germany last year, Matin Seibold's LifeFit
Life Fitness (UK) Ltd
Life Fitness (UK) Ltd
Altrafit has taken further steps to cement its reputation as a provider of high-quality, affordable
Rugby legend, Jonny Wilkinson has been announced as a keynote speaker for the HCM Summit
As United Fitness Brands gears up to launch its fifth Reformcore location at Battersea Power
The Gym Group has built on the positive momentum of 2023, with a strong half-year
The way fat stores are metabolised during exercise is different in males and females, according
The UK's National Sector Partners Group (NSP) has called on the new government to pledge
Boutique fitness software platform, Xplor Mariana Tek, has launched in-app gamification to help studios motivate
Innovatise UK Ltd
Innovatise UK Ltd
Trade show and conference, Elevate, is expanding to India next year, with an event scheduled
Industry body CIMSPA, which represents workers across the physical activity sector, has created an online
Global Wellness Summit
Global Wellness Summit
1 - 20 of 12,300
HCM promotional features
Sponsored
Since EGYM launched at Vivacity, the team has onboarded more than 1,200 members, with a retention rate of 85%
HCM promotional features
Sponsored
Green Gym Group partnered with Xplor Gym for an all-in-one gym management software solution to save time and improve the member experience
HCM promotional features
Sponsored
Sustainability in the fitness industry is coming on in leaps and bounds as more operators refurbish their gym equipment to save money and the planet
HCM promotional features
Sponsored
At the heart of the Sydney Swans new headquarters in Australia is an elite player-focused training facility by strength equipment specialist BLK BOX
HCM promotional features
Sponsored
Life Fitness has reimagined cardio with the launch of its Symbio line which has been designed with advanced biomechanics and offers deep levels of customisation
HCM promotional features
Sponsored
A major refurbishment of Sport Ireland Fitness by Technogym has created a world-class public gym at the home of Irish sport
HCM promotional features
Sponsored
We all know we need to stand more. Now an exciting new partnership between Physical and Teca Fitness expands this thinking into UK gyms and beyond
HCM promotional features
Sponsored
Coaching workshops from Keith Smith and Adam Daniel have been designed to empower your team and transform your service
HCM promotional features
HCM magazine
The Maybourne Group has unveiled its all-new London hotel The Emory. Megan Whitby goes behind the scenes at Surrenne, its cutting-edge health and wellness club
HCM magazine
Disappointment about being passed over for promotion gave Neil Randall, the resilience he needed to climb the ranks. He talks to Kath Hudson about the challenges he faced early in his career and the skills he learned from them
HCM magazine
Indoor bikes may remain stationary, but the discipline is in constant motion. Innovators tell Steph Eaves how they’re keeping pace with the latest trends
HCM magazine
Dr Tim Anstiss is developing coachbots that are supporting positive behaviour change for operators such as Life Leisure and KA Leisure
HCM magazine
A new study has found major differences in the way males and females utilise fat during exercise, as Kath Hudson reports
HCM magazine
Social media is causing huge amounts of poor mental health and a lot of fitness influencers don't understand the damage they’re doing
HCM magazine
Weight loss drugs are altering consumer behaviour, disrupting sectors from food retailing (smaller portions) to apparel (less fabric needed). We need to move fast to align with this new reality
HCM magazine
Charlotte Greenwood talks us through new research from Savanta, which is seeking to deliver a deeper understanding of what motivates consumers
HCM magazine
HCM People

Jonny Wilkinson

Founder, One Living
When you bring the mental, emotional and physical together as one and find balance, it can connect you to the magical
HCM magazine
As the UK healthcare sector struggles with ever-increasing demand, health club operators are stepping in and offering members welcome medical support. Kath Hudson reports
HCM magazine
As more trans women, trans men and non-binary people join health clubs, it’s time to work out a system where everyone feels included, protected and safe in the locker room. Kath Hudson reports
HCM magazine
Featured supplier news
Featured supplier news: THFI’s new online coaching course partners with FITR: launch your business confidently post-completion
In today's rapidly evolving fitness industry, where many online courses promise secret formulas for entrepreneurial success, the reality is that few provide the necessary knowledge to thrive in this fast-changing profession.
Featured supplier news
Featured supplier news: Altrafit introduces custom functional fitness equipment at Third Space
Altrafit has taken further steps to cement its reputation as a provider of high-quality, affordable functional fitness equipment that is built to last with the development and introduction of a new functional fitness keg for luxury gym operator, Third Space.
Company profiles
Company profile: Places Leisure
Places Leisure aims to enlighten our communities about the benefits of a healthy lifestyle in ...
Company profiles
Company profile: Study Active
Study Active is a UK leading provider of health & fitness qualifications including Gym Instructing ...
Supplier Showcases
Supplier showcase - Safe Space: Delivering the vision
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Servicesport UK Limited press release: ServiceSport UK awarded Ministry of Justice contract for gym equipment maintenance in prisons
In a significant milestone, ServiceSport UK proudly announces that we have been awarded the prestigious Ministry of Justice contract for the inspection, service, and maintenance of PE equipment across 106 public prisons in England and Wales.
Featured press releases
Alliance Leisure Services (Design, Build and Fund) press release: Alliance Leisure celebrates official opening of its first Leisure Local Health Hub
This month sees the official opening of a brand new, £9 million Health Hub in Nottinghamshire. Based on Sport England’s Leisure Local model, the new community provision delivers a host of leisure facilities designed to bring new active living opportunities to the whole community.
Directory
Spa software
SpaBooker: Spa software
Cryotherapy
Art of Cryo: Cryotherapy
Salt therapy products
Himalayan Source: Salt therapy products
Lockers
Crown Sports Lockers: Lockers
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Snowroom
TechnoAlpin SpA: Snowroom
Property & Tenders
Jersey
Jersey War Tunnels
Property & Tenders
Chiswick, Gillingham, York and Nottingham
Savills
Property & Tenders
Diary dates
03-05 Sep 2024
IMPACT Exhibition Center, Bangkok, Thailand
Diary dates
08-10 Sep 2024
Wyndham® Lake Buena Vista Disney Springs™ Resort, Lake Buena Vista, United States
Diary dates
19-19 Sep 2024
The Salil Hotel Riverside - Bangkok, Bangkok 10120, Thailand
Diary dates
20-22 Sep 2024
Locations worldwide,
Diary dates
01-04 Oct 2024
REVĪVŌ Wellness Resort Nusa Dua Bali, Kabupaten Badung, Indonesia
Diary dates
09-13 Oct 2024
Soneva Fushi, Maldives
Diary dates
10 Oct 2024
QEII Conference Centre, London,
Diary dates
22-25 Oct 2024
Messe Stuttgart, Germany
Diary dates
24-24 Oct 2024
QEII Conference Centre, London, United Kingdom
Diary dates
04-07 Nov 2024
In person, St Andrews, United Kingdom
Diary dates
04-06 Feb 2025
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
11-13 Feb 2025
Fairmont Riyadh , Saudi Arabia
Diary dates
10-13 Apr 2025
Exhibition Centre , Cologne, Germany
Diary dates
07-07 Jun 2025
Worldwide, Various,
Diary dates
28-31 Oct 2025
Koelnmesse, Cologne, Germany
Diary dates
Search news, features & products:
Find a supplier:
Savills
Savills
Partner sites