EGYM secures US$200m round of investment to drive further growth

Fitness and wellness tech giant, EGYM, has raised approximately $200 million of growth capital from investment firm L Catterton and Silicon Valley-based venture capital company Meritech Capital.

It is the latest (series G) round of investment for EGYM, which takes the company’s valuation to around US$1.2bn. The funding will support the continued expansion of EGYM’s Wellpass corporate wellness network and drive further development of its digital solutions and smart strength equipment.

Paul Madera, Co-Founder and Partner at Meritech, said: “EGYM has impressed us with their ability to bring a huge vision – one that was particularly challenging to execute in the early stages – to market so successfully. EGYM now offers employers a truly technology-driven solution that increases employee wellbeing and productivity while reducing sick days and healthcare costs.”

EGYM CEO, Philipp Roesch-Schlanderer, added: “L Catterton and Meritech were my two absolute dream investors for our mission to build the leading global platform at the intersection of fitness and healthtech.

“We are strengthening our board with both fitness industry and technology experts. They share our vision of turning the world’s largest market, the healthcare industry, from repair to prevention.

“Thanks to our smart technology solutions and our fast-growing international corporate wellness platform, we now have a real opportunity to accelerate this change and are more determined than ever to do so.”

EGYM’s corporate fitness platform, Wellpass, has been designed to unlock access to a diverse breadth of fitness facilities to employees. It also offers integrated and tech-enabled “smart strength equipment” and software solutions.