Gympass, a NYC-based corporate wellbeing platform provider, raised $220m in funding. Backers in the round, which valued the company at $2.2 Billion, included Softbank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group.
Co-Founder & CEO Cesar Carvalho said: “Companies understand (now more than ever) that investing in the wellbeing of their employees leads to a healthier, more collaborative, and inclusive work environment but also provides higher talent retention rates, lower health costs, and lower levels of absenteeism. Many companies started to adapt their budgets to boost wellness programs during the pandemic, during which we welcomed more than 1,000 new corporate clients, as corporate wellness programs looked for holistic, flexible, and equitable solutions. Looking at Gympass data, we have already seen the accelerated growth of in-person activities post-lockdown and also on the use of digital products.”
The company intends to use the funds to accelerate growth in the US, improve the product experience and continue to expand into new categories.
Announcement: Gympass Raises $220M for Corporate Well-Being