Egym became known for selling smart fitness equipment to studios and clubs. With Wellpass, the startup also offers employees access to a network of partner facilities such as fitness studios. As international innovation leader in corporate fitness and fitness technology, Egym receives around 180 million euros in a Series G financing round. With the pre-money valuation, the Fitnesstech the one billion euro mark and thus belongs to the circle of Munich unicorns.
The two new investors are L Catterton and Meritech Capital. L Catterton is a consumer goods growth fund and fitness investor. Meritech Capital is a Silicon Valley-based technology investor whose investments include Salesforce, Meta, and Snowflake. The focus of the fresh funding for Egym is on expanding the Wellpass corporate fitness network. The company also intends to advance the development of further innovative digital solutions and products related to health-oriented training.
Marc Magliacano, Managing Partner of the L Catterton Flagship Fund, comments on the investment:
"I'm convinced that Egym will play a significant role in revolutionizing the way people train in gyms around the world. Egym's technology enables unprecedented personalization and progress measurement. This will increase the appeal of gyms to both experienced and new members."
Also Paul Madera, co-founder and partner at Meritech, says:
"We are impressed by how Egym has managed to successfully market its vast vision, the implementation of which proved very challenging, especially in the initial phase. Egym now truly offers employers a technology-driven solution that helps increase employee well-being and productivity, as well as reduce sick days and healthcare costs."
And finally, Egym CEO says Philipp Roesch-Schlanderer:
"L Catterton and Meritech were my two absolute dream investor partners for our mission to build the leading global platform at the intersection of fitness and health. With Marc and Paul, we are strengthening our board with two absolute industry and IT experts, respectively. They share our vision of transforming the world's largest market, the healthcare market, from repair to prevention. Thanks to our smart technology solutions and our rapidly growing international corporate wellness platform, we now have a real opportunity to accelerate this transformation, and we are more determined than ever to do so."
Egym's mission is to build the leading global platform at the intersection of fitness and health. By combining Wellpass Corporate fitness subscriptions and integrated hardware and software solutions are intended to create a personalized, AI-supported training experience. According to the company, its corporate fitness network currently includes 17,000 sports partners and 14,000 corporate customers with over three million authorized employees. In addition, around 18,000 fitness and health facilities are said to use Egym's products and services.
