Born in Brazil almost a decade ago, Gympass now has a global presence with headquarters in New York. Add to this their new announcement: they have acquired Seattle-based startup Trainiac, which offers personalized workouts.
The amount of the transaction was not disclosed; but it was announced that they will have a product team in Seattle.
Gympass, which operates under a “pay once enter all” model, became a unicorn this year with a valuation of US$2.2 billion. Last June they received a US$220 million round of financing in a Series E led by Softbank. So far, they have a total of US$520 million in funding.
In addition, Gympass has grown between 8% and 12% per month during 2021, according to what CEO Cesar Carvalho told Bloomberg Línea.
What Does The Acquisition of Trainiac Add to Gympass?
Gympass has been known for providing unlimited access to gyms, sports spaces, apps and trainers to companies through its platform. But now, with Trainiac by Gympass, as it will be called, they will offer certified trainers who work with the user to create a wellness program.
Trainiac was born in 2016 by Akshay Ahooja and Frank Fan, who had both worked at Microsoft and Uber. In fact, early last year the startup had raised a seed round of US$2.2 million.
For its part, Gympass has around 4,000 corporate clients; 50,000 activity partners; 1,300 on-demand classes; as well as 2,000 hours of meditation; weekly therapy sessions; and activities with personal trainers.
Carvalho explained that Gympass is aiming for their trainers to be wellness coaches who design personalized workouts, guide users and get them to train more.
Contrary to the crisis in the gym industry during 2020, for Gympass the pandemic was not a problem; they kept growing. This is because their business model is not only focused on physical locations but also online.
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