Connected fitness tech unicorn EGYM snaps $200M at over $1B valuation

September 25, 2024

Munich-based EGYM, which specialises in connected fitness equipment and personalised training tech, has secured nearly $200 million in growth capital. The investment came from L Catterton, a global consumer-focused investment firm, and Meritech Capital, a Silicon Valley technology-focused venture firm. This round boosts the company’s valuation to over $1 billion.

This follows the recent investment in the sector, including Reform RX and Harbiz.

The investment will support the continued expansion of the EGYM Wellpass corporate wellness network and further development of innovative digital solutions, smart strength equipment and tech-enabled products for data-driven and personalised training. This will allow fitness club operators to deliver a distinctive experience to its members. TFN