Fitness studios were severely affected by closures as part of the pandemic measures. Despite this, Egym says it has been able to keep its revenues stable over the past year and a half. Now, according to Egym, many operators of fitness and health facilities are investing heavily in digitalization measures. In addition, Munich, new customer business is picking up significantly. The company therefore expects to be profitable for the second half of 2021.
Philipp Roesch-Schlanderer, co-founder and CEO of Egym, says:
"We are delighted that our new partner Mayfair shares our vision of a fitness studio that works for everyone. The seamless integration of hardware and software, in other words, the digitization of the training space, is the key prerequisite for ensuring that all members reliably achieve their training goals. For operators, the digitization of their offerings represents a huge opportunity to position themselves as innovative providers and the primary touchpoint in relation to outdoor fitness and home training. Our egym ecosystem supports fitness and health facilities with innovative, functional solutions. With the additional funds from this financing round, we are further expanding our product portfolio and thus increasing our innovative lead."
Egym wants to win more corporate customers
“The $97 billion health and fitness industry is an extremely robust and growing global sector that has only recently begun to take advantage of digitalization,”
says Kunal Dasgupta, Founding Partner of Mayfair Equity Partners.
“Egym is at the forefront of digitizing the fitness ecosystem, creating a connected training experience for club members that seamlessly integrates equipment, software, and services.”
In the years before the pandemic, between 2017 and 2019, Egym increased its annual revenue by an average of 44 percent. Around 13,000 studios worldwide currently use the Munich-based company's products and services. At the beginning of 2021, Egym had over 13 million registered users worldwide.
The Qualitrain fitness network is expected to grow significantly in the future. Currently, around 3,000 companies with more than 1.3 million employees and around 4,500 sports and health facilities participate in the program. Roesch-Schlanderer says:
"It's never been more important for employers to invest in the health and productivity of their employees. Our technology is by far the most advanced on the market and ensures that all participants train safely and effectively."
