German healthtech company EGYM has raised approximately $200 million in growth funding from L Catterton, a leading global consumer-focused investment firm, and Meritech Capital, a leading Silicon Valley tech-focused venture firm, at a valuation of over $1 billion.
The investment will support the continued expansion of the EGYM Wellpass corporate wellness network and the further development of innovative digital solutions, smart strength training equipment and high-tech products for data-driven, personalized training, enabling health club operators to deliver distinctive experiences to their members.
EGYM introduces data-driven fitness technology with a focus on preventing, not just addressing, chronic diseases. EGYM offers gym operators a “new era” of smart, integrated strength training equipment and data-enabled tools to engage, train and retain members through AI-driven personalized training, health metric tracking and interconnectivity across member activities and workouts across any fitness club.
Mark Mariacano, Managing Partner of the L Catterton Flagship Fund and with more than 20 years of successful fitness investing, said, “We believe EGYM will revolutionize the way people train in gyms around the world. Through unprecedented personalization and measurement, EGYM’s technology will make gyms far more attractive and effective for both experienced and new gym members.”
“We’re impressed with EGYM’s ability to bring to market so successfully a big vision that was particularly difficult to execute on in the early stages,” said Paul Madera, co-founder and partner at Meritech. “EGYM now offers employers a truly technology-driven solution that improves employee health and productivity while reducing sick days and healthcare costs.”
Philippe Roche-Schlanderer, CEO of EGYM, commented: “L Catterton and Meritech were the perfect investors for our mission to build the world’s leading platform at the intersection of fitness and healthtech. The addition of Mark and Paul strengthens our board of directors with fitness industry and technology experts who share our vision of transforming the world’s largest market, the healthcare industry, from repair to prevention. Thanks to our smart technology solutions and fast-growing international corporate wellness platform, we now have a real opportunity to accelerate this change, and we are more determined than ever to do so.”
The EGYM Wellpass corporate wellness network currently has 17,000 sports partners and 14,000 corporate clients, reaching over 3 million employees. Approximately 18,000 fitness and health facilities, including many of the world’s largest corporate studio chains, use EGYM products and services. Every month, 6 million people around the world train with EGYM.
In the spring, EGYM launched EGYM Genius, a new AI-based software product that creates fully automated, personalized training plans (using an individual’s specific biological features) that precisely fit every piece of equipment in any fitness or wellness facility. Trainers and members benefit from insights derived from 7 billion EGYM training data points. EGYM Genius connects every part of the rapidly growing EGYM ecosystem to over 200 connected partner brands.
