Corporate fitness startup Gympass, New York, has raised $300 million through a new funding partnership with SoftBank Group Corp., Tokyo, the companies announced on June 12.
Gympass, founded in Brazil in 2012, partners with more than 2,000 global companies to provide discounted fitness packages to employees. This includes access to a network of 47,000 health clubs across 14 countries.
The new funding will help Gympass further its mission of getting corporate employees active, CEO Cesar Carvalho said in a media release.
"HR departments at Unilever, Tesco and Activision Blizzard, among others, have taken significant strides to improve the well-being of their employees with Gympass," Carvalho said. "Our valued fitness partners are the foundation of our diverse, flexible and convenient program. We believe this partnership will enable us to bring our solution to more organizations around the world, revolutionizing the way that employees engage in physical activity."
SoftBank has recently invested in a number of rapidly growing tech companies, including ride-sharing company Uber Technologies Inc.
"More people are leading healthier lives thanks to Gympass, and we're thrilled to work with Cesar and the team to accelerate their strategy in Latin America and beyond," Marcelo Claure, CEO of SoftBank Latin America Fund, said in the release. "There are few companies as successful as Gympass in making the transition to a global champion, and we're excited for what the future holds."
The initial investment was completed by SoftBank's Vision Fund, according to the release. Its Latin America Fund will join the deal once applicable authorizations and closing conditions are met.