Fitness supplier EGYM has received $41m in growth equity from Mayfair Equity Partners to accelerate the digitisation of the fitness and health industry.
Founded in 2010, the company offers products that create a digital, connected exercise experience for gyms and their members. Approximately 13,000 studios use EGYM products and services around the world. EGYM Smart Strength and Smart Flex equipment is in use in over 2,000 fitness and health facilities. At the start of the year, EGYM Digital had over 13 million registered uses, while EGYM Business connects over 3,000 corporate customers with over 1.3 million employees to over 4,500 gyms, sports and health facilities.
“We are delighted that our new partner Mayfair Equity Partners shares our vision of a gym that works for everyone. The crucial prerequisite for all members to reliably achieve their workout goals is the seamless connection of hardware and software, in other words: the digitisation of the fitness space,” said Philipp Roesch-Schlanderer, EGYM co-founder and CEO.
“For operators of fitness and health facilities, the digitisation of their offering is a huge opportunity to position themselves as innovative fitness providers for fun, effective and safe workouts, especially in competition with at-home-workout providers.”