fbpx

ClassPass Fundraising: Raises INR 2035.68 CR

ClassPass

ClassPass raises INR 2035.68 Crores led by L Catterton and Apax Digital

An app and website ClassPass raisese INR 2035.68 Crores led by L Catterton and Apax Digital in series E investment. Now it is a Unicorn worth over 1billion dollars, following its expansion into 28 countries and the signing of more than 1,000 leading employers into its corporate wellness program. As part of the investment, Marc Magliacano, Managing Partner at L Catterton’s Flagship Fund, and Daniel O’Keefe, Managing Partner at Apax Digital, will join the ClassPass Board of Directors.

The alternative gym and fitness studio startup said that it has raised $285 million in new funding round, pushing its valuation above the $1 billion mark, officially making it a “unicorn.”

“We are motivated by the impact we’ve had on members and partners, including 100 million hours of workouts that have already been booked. This investment is a significant milestone that will further our mission to help people stay active and spend their time meaningfully,” says Founder and Executive Chairman Payal Kadakia. Adding to this she said the growing ecosystem of fitness brands. “It is motivating for people to try different experiences; our stats keep pointing to variety — if one of those mixes of variety is at-home, that’s fine,”

Founder of StartupLanes, Shishir Gupta says: Fitness and health wellness is in the trend today. Everybody is conscious and concern about their body. People are changing their lifestyles, eating benefits accordingly, which is the need of the hour. ClassPass is really helpful for the people who are searching for some kind of activity after their busy schedule. It also motivates those who are not aware about the impacts of changing lifestyle on their body and health. It’s a very helpful and essential initiative, which will help people in living in the pink world. Congratulations to the team.

Founded in 2013 by Payal Kapadia, while struggling to find a dance class in New York . It helps in bringing together a community of enthusiasts, helping people find the activities that make their true selves come alive or supporting small businesses and studios across the entire globe, we believe that being active is the key to living a happy and healthy life. Classpass is an app and website that made finding and booking classes effortless is now changing how people live their lives. It is widely known as the world’s leading fitness membership and a cult favorite throughout North America, Europe and much of the world. ClassPass  has more than 30,000 partnership businesses on its platform, one third of which are international, and 650 employees across five continents. In 2017, company announced it would be introducing credit sytem via virtual currency.

Non-communicable diseases (NCDs) such as heart disease, cancer and diabetes now account for 90 per cent of  deaths each year in the UK. The changing ‘lifestyle’ conditions are a well known problem in the west. They account for the 53% of deaths and disabilities in the developing world – taking 31 million lives a year. Daily Exercise, good lifestyle, better eating habits, adding some physical exercise in daily routine is the need of the hour. Startups like Cult fitness, ClassPass, different pass are helping people to keep an update and track of their lifestyle.

Tags

top