Egym became known through the sale of smart fitness equipment to studios and fitness clubs. With Wellpass, the startup also offers employees access to a network of partner facilities such as fitness studios. As an international innovation leader in corporate fitness and fitness technology, Egym receives around 180 million euros in a Series G funding round. With the pre-money valuation, the fitnesstech company crosses the one-billion-euro mark and thus becomes part of 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 technology investor from Silicon Valley whose investments include Salesforce, Meta, and Snowflake. The focus of the new funding for Egym is on expanding the Wellpass corporate fitness network. Additionally, the development of further innovative digital solutions and products around health-oriented training is to be accelerated.
Marc Magliacano, Managing Partner of L Catterton Flagship Fund, comments on the investment:
“I am convinced that Egym will make an important contribution to revolutionizing the way people train in fitness studios around the world. Egym’s technology enables unprecedented personalization and progress tracking. This increases the appeal of fitness studios for both experienced and new members.”
Paul Madera, co-founder and partner at Meritech, also shares his thoughts:
“We are impressed by how Egym managed to successfully bring its enormous vision, whose implementation proved to be very challenging especially in the initial phase, to market. Egym now offers employers a truly technology-driven solution that helps increase employee wellbeing and productivity while reducing sick days and healthcare costs.”
And finally, Egym CEO Philipp Roesch-Schlanderer says:
“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. They share our vision of transforming the world’s largest market, the health market, from repair to prevention. Thanks to our smart technology solutions and our internationally rapidly growing corporate wellness platform, we now have a real opportunity to accelerate this transformation, and we are more determined than ever to do so.”
Egym is pursuing the mission to build the leading global platform at the intersection of fitness and health. By combining Wellpass corporate fitness subscriptions with integrated hardware and software solutions, a personalized, AI-powered training experience is to be created. According to company information, the corporate fitness network currently includes 17,000 sports partners and 14,000 corporate clients with over three million authorized employees. Additionally, approximately 18,000 fitness and health facilities are said to use Egym’s products and services.
