ClassPass, the monthly fitness subscription marketplace that features over 30,000 studios, gyms, and wellness providers, is being acquired by Mindbody, the technology platform that connects wellness providers to consumers and allows providers to manage their businesses. Terms of the transaction were not disclosed but it’s an all-stock deal. “The ClassPass network includes many businesses already working with Mindbody. By combining our respective operations, we will create more seamless integrations and unlock new revenue opportunities for business owners using both services, while continuing to support all fitness, salon and spa businesses who choose to work with Mindbody or ClassPass,” said Fritz Lanman, ClassPass CEO.
The ClassPass network includes many businesses already working with Mindbody. By combining our respective operations, we will create more seamless integrations and unlock new revenue opportunities for business owners using both services, while continuing to support all fitness, salon and spa businesses who choose to work with Mindbody or ClassPass – Fritz Lanman
Founded by Mary Biggins, Payal Kadakia, and Sanjiv Sanghavi in 2011, ClassPass has raised a total of $549.2M in total reported equity funding. The many backers of the company include Techstars, SV Angel, Right Side Capital Management, General Catalyst, GV, CRV, BoxGroup, Slow Ventures, Acequia Capital (AceCap), Temasek Holdings, Thrive Capital, Techstars New York City Accelerator, Charlie Songhurst, Scott Banister, BAM Ventures, L Catterton, Brainchild Holdings, Cyan Banister, David Tisch, Eastward Capital Partners, Fifth Wall, M13, Moonshots Capital, Romulus Capital, Nelstone Ventures, Fritz Lanman, Kal Vepuri, Owen Van Natta, WME, Hank Vigil, Vivi Nevo, Gordon Crawford, True Capital Management, Miroma Ventures, Shana Fisher, Beehive Holdings, Blake Krikorian, Apax Digital, Expanding Capital, Emergent Ventures, Springboard Growth Capital LLC, Blazer Ventures, Grace Stanat, Noah Kraft, and Keith Nowak. ClassPass’ last funding came in January of 2020 in a round led by L Catterton and Apax Digital at a $1B valuation. Lanman will continue to lead ClassPass under its own brand within Mindbody.
“This acquisition comes at a pivotal time for the wellness industry as it continues to rebound from COVID-19 related closures – and local and authentic experiences are more important to people than ever,” said Josh McCarter, CEO of Mindbody. “Our companies share a singular focus on bringing wellness experiences to more people, in more places. By leveraging the best of both companies’ technology and expertise, we are more committed than ever to providing studios with best-in-class tools to help them grow and thrive, while also driving more consumers to their businesses.”
Our companies share a singular focus on bringing wellness experiences to more people, in more places. By leveraging the best of both companies’ technology and expertise, we are more committed than ever to providing studios with best-in-class tools to help them grow and thrive, while also driving more consumers to their businesses. – Josh McCarter
