Fitness technology and corporate wellness innovator Egym has secured a substantial $200 million in growth capital, propelling its valuation beyond the coveted $1 billion mark. This investment, spearheaded by L Catterton and Meritech Capital, will turbocharge Egym’s global expansion plans, with a particular focus on its groundbreaking corporate wellness network, Wellpass.
Egym aims to revolutionize the fitness and healthcare landscape by developing innovative digital solutions, smart strength equipment, and tech-enabled products that deliver data-driven, personalized training experiences. The company’s vision is clear: shift healthcare from treatment to prevention.
“We have a real opportunity to accelerate the transformation of the healthcare industry from repair to prevention,” Egym states. “Our smart technology solutions and rapidly growing international corporate wellness platform position us to lead this change.”
The company’s dynamic growth is evident. With a global team of 700, Egym is poised to replicate its European success worldwide. Recent strategic hires and acquisitions, including three seasoned CEOs and two fitness aggregators, underscore its commitment to expansion.
Egym’s product portfolio is impressive. Its Wellpass network boasts 17,000 sports partners, 14,000 corporate customers, and six million monthly users. Additionally, its AI-powered Egym Genius software creates fully automated, personalized training plans, tailoring workouts to individual capabilities and available equipment.
Industry leaders recognize Egym’s potential. Marc Magliacano of L Catterton believes Egym will “revolutionize the way people workout in gyms around the world” through its personalization and measurement technology. Paul Madera of Meritech lauds Egym’s ability to execute a challenging vision, providing employers a tech-driven solution that enhances employee well-being and productivity while reducing healthcare costs.
With a robust valuation, a comprehensive suite of solutions, and strong industry backing, Egym is well-positioned to lead the charge in shaping the future of fitness and healthtech.
