As first reported by WSJ, EQT is to invest in Gympass in a deal valued Gympass at $2.4 billion.
EQT has a long history of investing in the wellness industry,and it sees Gympass as a leader in the digital fitness space.
Image: Gym Pass
The new funding will be used to help Gympass expand its reach and offerings.
The company plans to add more fitness partners and wellness programs to its platform. It also plans to expand into new markets, such as Asia and Latin America.
Gympass is a subscription service that gives users access to a variety of fitness classes and gyms. The company has over 50 million members in 15 countries.
Gympass’s mission is to make fitness accessible to everyone, regardless of their location or budget.
The new funding from EQT is a vote of confidence in Gympass’s business model and growth potential.
The company is well-positioned to capitalize on the growing demand for digital wellness solutions.
Here are some of the organizations that are reportedly using Gympass:
- Microsoft
- Salesforce
- Nike
- Coca-Cola
- Johnson & Johnson
- Bank of America
- PwC
- KPMG
- EY
