ClassPass Acquisition, Valuation, Funding & Investors
ClassPass was acquired by Mindbody Business in October 2021.
ClassPass acquisition price
Undisclosed
Acquired by Mindbody Business · Oct 2021
Cumulative funding ClassPass raised
$549M
across 8 funding rounds
Key investors in ClassPass
Acequia Capital (AceCap)
Temasek
General Catalyst
GV
CRV
Thrive Capital
L Catterton
Fifth Wall
About ClassPass
ClassPass is a New York-headquartered subscription service granting access to fitness and wellness classes worldwide. Members book sessions at over 25,000 partner gyms, studios, and salons offering yoga, cycling, Pilates, boxing, barre, massage, and acupuncture. The platform employs machine learning for personalized class recommendations from a monthly catalog exceeding 5 million options. ClassPass partners with studios to optimize capacity, attract new clientele, and monetize unused slots across 2,500 cities.
Founded
2011
HQ
New York City, NYWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Subscription
Valuation
$1B (Jan 2020)
ClassPass Acquisition
ClassPass was acquired by Mindbody Business for an undisclosed price on 13 October 2021.
Before the acquisition ClassPass had raised $549M across 8 funding rounds.
ClassPass is a subscription-based fitness marketplace founded in 2013, allowing users to book classes at thousands of studios and gyms worldwide using a credit-based model that evolved from à la carte bookings. It raised $285 million in January 2020 at a $1 billion valuation, backed by investors including Apax Digital, L Catterton, General Catalyst, and Temasek, achieving unicorn status amid international expansion despite pandemic challenges. Mindbody, a B2B wellness platform providing discovery, booking, and management software for fitness studios, gyms, and salons, announced its acquisition of ClassPass on October 13, 2021, in an all-stock deal with undisclosed terms. The transaction positions Mindbody to combine its B2B software with ClassPass's consumer-facing subscription marketplace, creating a comprehensive wellness ecosystem serving both businesses and end-users. Sources indicate Mindbody would hold 60-70% of the merged entity, implying ClassPass valued above its $1 billion prior benchmark, though exact figures remain private. Concurrently, the combined company secured $500 million investment led by Sixth Street, with continued backing from Vista Equity Partners, to fuel growth and innovation post-pandemic. ClassPass continues operating independently under its brand, with no planned layoffs, and its leadership integrated into Mindbody's structure. This strategic merger aligns complementary strengths: Mindbody's operational tools for 60,000+ providers and ClassPass's direct consumer access recovering to 110% pre-COVID usage levels. It reflects industry consolidation trends, later evolving into Playlist as parent company in 2025, unifying Mindbody, ClassPass, and Booker before a subsequent EGYM merger.
| Acquirer | Date | Type |
|---|---|---|
| 13 Oct 2021 | Strategic M&A |
ClassPass Valuation
ClassPass is currently valued at $1B, based on its Series E in January 2020.
The $285M round was led by Apax Digital and L Catterton, with participation from Temasek and True Capital Management.
ClassPass' valuation has grown 2.1x from $470M at its undisclosed-stage round in September 2017 to $1B in January 2020, across 2 priced rounds.
ClassPass valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2020 | Series E | $1B |
| Sep 2017 | Undisclosed stage | $470M |
ClassPass Funding History
ClassPass has raised a total of $549M across 8 funding rounds.
ClassPass' first fundraising round was a $4M seed round in March 2014. The most recent completed round was a $285M Series E in January 2020.
ClassPass funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2020 | Series E | Apax Digital (lead); L Catterton (lead); Temasek; True Capital Management | $285M | $1B | ClassPass, a leading global fitness and wellness marketplace connecting users to studios, gyms, and wellness providers via a subscription model with credits, closed a $285 million Series E funding round on January 8, 2020, led by L Catterton and Apax Digital, with participation from existing investor Temasek and others like True Capital Management. The round valued the company at $1 billion, marking its unicorn status, and brought total funding to nearly $600 million. L Catterton, with experience in fitness brands like Peloton, Equinox, and Pure Barre, and Apax Digital, experts in scaling digital marketplaces, saw ClassPass's board joined by Marc Magliacano and Daniel O’Keefe. At the time, ClassPass operated in 28 countries, partnering with over 30,000 studios and gyms, and had signed more than 1,000 employers to its corporate wellness program. The company had evolved its model from unlimited classes to a credits-based system with variable pricing and AI enhancements, including the recent acquisition of Flaner in late 2019 to improve recommendations and user experience. CEO Fritz Lanman highlighted proven U.S. success and rapid international growth, with partners viewing ClassPass as their top driver of new reservations even in new European markets. Funds were earmarked to accelerate international expansion, deepen penetration in existing markets, and scale the corporate program globally. Investors praised ClassPass's adaptability, global brand strength, and growth potential in the wellness sector. In 2021, ClassPass was acquired by Mindbody in a deal backed by $500 million from Sixth Street, following Mindbody's privatization by Vista Equity Partners. |
| Jul 2018 | Series D | Temasek (lead); Springboard Growth Capital; Acequia Capital (AceCap); L Catterton | $85M | - | - |
| Sep 2017 | Undisclosed stage | - | $23M | $470M | ClassPass is a fitness and wellness marketplace that connects users with boutique fitness studios, gyms, and wellness providers through a subscription-based platform. The company enables members to discover and book classes across its network of over 30,000 partner fitness establishments while allowing studios to monetize excess inventory and acquire new customers. ClassPass uses machine learning to provide personalized class recommendations to members based on their fitness goals and preferences. The company's business model evolved significantly from its 2013 launch, eventually introducing a virtual currency credit system in 2017 that enabled variable pricing based on class demand rather than fixed monthly membership tiers. In May 2017, ClassPass announced a Series C funding round led by Temasek Holdings valued the company at $470 million. By the time of its Series E round in January 2020, ClassPass had expanded to 28 countries, partnered with over 1,000 employers for corporate wellness programs, and facilitated 100 million hours of fitness bookings. The company raised a total of $549 million across nine funding rounds before being acquired by Mindbody Inc. in October 2021. |
| Jun 2017 | Series C | Temasek (lead); General Catalyst; Expanding Capital; GV; Springboard Growth Capital; Acequia Capital (AceCap); M13; Moonshots Capital; Fifth Wall; Thrive Capital; CRV | $70M | - | - |
| Nov 2015 | Undisclosed stage | GV (lead); Fifth Wall | $30M | - | ClassPass, a fitness subscription service allowing users to access unlimited classes from various gyms and studios for a monthly fee of $125, raised $30 million in a Series C funding round on November 11, 2015, led by Google Ventures (GV), with participation from existing investors including Fifth Wall, General Catalyst, and Thrive Capital. This brought the company's total funding to $84 million at the time. The platform had launched as a recurring subscription model after pivoting from its initial Classtivity search engine and acquiring competitor Fitmob in April 2015, enabling rapid growth with users making 11 million reservations across 36 markets on three continents. The funding was aimed at enhancing the user experience with more personalized memberships and providing studio partners with tools to optimize and grow their businesses, amid rapid expansion. By late 2015, ClassPass worked with over 7,000 business owners and had about 120 employees. |
| Jan 2015 | Series B | General Catalyst (lead); Thrive Capital (lead); Slow Ventures; Acequia Capital (AceCap); BluePointe Ventures; Moonshots Capital; BAM Ventures | $40M | - | ClassPass is a subscription-based fitness platform offering users unlimited access to boutique gym classes and studios for a flat monthly fee, such as $99, with limits like attending the same class up to three times per month. The company, backed by TechStars and founded by Payal Kadakia, rapidly expanded to over 20 cities by early 2015, focusing on dynamic pricing for studios based on demand and popularity. In December 2014 or early January 2015, ClassPass raised a $40 million Series B funding round led by General Catalyst and Thrive Capital, with participation from investors including Acequia Capital, BAM Ventures, BluePointe Ventures, Moonshots Capital, and Slow Ventures. This brought total funding to $54 million. The capital supported aggressive market expansion at a rate of five new cities per month, engineering team growth from 20 to double that size, marketing initiatives, and strengthening studio partnerships. Around the funding period, ClassPass achieved a $60 million revenue run rate for 2015, doubled from prior months, driven by 600,000 reservations in February 2015, $1.5 million weekly revenue, and over $5 million monthly top-line. December saw 300,000 reservations amid the funding close. The company was reported as 25x larger in revenue than competitors, positioning it akin to Uber's early growth trajectory. Post-funding, ClassPass continued scaling, planning $100 million payouts to studios in 2015 after $30 million since 2013 relaunch, with 4.5 million total reservations by mid-2015. Key hires included Zach Apter for revenue management and Alex Do for marketing to optimize pricing algorithms and growth. |
| Sep 2014 | Series A | Acequia Capital (AceCap) (lead); Fritz Lanman (lead); Hank Vigil (lead); WME; Kal Vepuri; Shana Fisher; Eastward Capital Partners; CRV; David Tisch | $12M | - | - |
| Mar 2014 | Seed | Hank Vigil; Grace Stanat; BoxGroup; Long Journey Ventures; Fritz Lanman; Alpaca VC; Acequia Capital (AceCap); Brainchild Holdings; Beehive Holdings; Blake Krikorian; Charlie Songhurst; Gordon Crawford | $4M | - | ClassPass, originally launched as Classtivity, rebranded and raised $2 million in seed funding in March 2014 from investors including Fritz Lanman, Acequia Capital (AceCap), Alpaca VC, Beehive Holdings, Blake Krikorian, BoxGroup, Brainchild Holdings, Charlie Songhurst, Cyan Banister, Gordon Crawford, Grace Stanat, and Hank Vigil. The company provides a subscription service allowing users access to fitness classes at various gyms and studios for a monthly fee. At the time, it had partnered with over 65 boutique gyms in New York and expanded to over 20 gyms in Boston. Since its initial launch, ClassPass had grown to facilitate 100,000 reservations. |
Who has invested in ClassPass?
33 investors have backed ClassPass across its funding rounds, including Acequia Capital (AceCap), Temasek, General Catalyst, GV, CRV and Thrive Capital.
Lead investors include Apax Digital, L Catterton, Temasek, GV, General Catalyst and 4 other investors.
ClassPass Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Paris | 5 | Lead | Mar 2014 | |
 Singapore | 3 | Lead | Jun 2017 | |
| San Francisco, CA | 2 | Lead | Jan 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Hank Vigil | Hancock, MI | 2 | Lead | Mar 2014 |
| San Francisco, CA | 2 | Lead | Nov 2015 | |
| Fritz Lanman | -- | 2 | Lead | Mar 2014 |
| New York City, NY | 2 | Participant | Jun 2017 | |
| Austin, TX | 2 | Participant | Jan 2015 | |
| Greenwich, CT | 2 | Lead | Jul 2018 | |
| Los Angeles, CA | 2 | Participant | Nov 2015 | |
| New York City, NY | 2 | Lead | Jan 2015 | |
| United States | 2 | Participant | Sep 2014 | |
| Los Angeles, CA | 1 | Participant | Sep 2014 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by ClassPass
ClassPass has acquired 5 companies to date.
Last acquisition by ClassPass was on March 2nd 2020. ClassPass acquired Clickypass for undisclosed valuation.
Latest Acquisitions by ClassPass
| Description | Clickypass is a Latin America-focused fitness membership platform providing access to classes across gyms and studios in cities like Mexico City and São Paulo. For a monthly fee, members book yoga, HIIT, and dance sessions via app, promoting flexible scheduling and community events. The service spans thousands of venues, emphasizing shared experiences in Brazil, Mexico, and Colombia. | MuvPass is a subscription fitness network in Chile granting unlimited access to gyms, studios, and classes across 200 venues. Plans allow online booking for yoga, CrossFit, and weight training without long-term commitments. Founded in 2017 in Santiago, it utilizes excess venue capacity by paying per visit. | Fitness Collection is a Stockholm-headquartered subscription service accessing 200+ classes across yoga, CrossFit, and martial arts studios. Launched in 2019, members book via app in Sweden's major cities. The platform curates trainers for varied mobile workouts. | GuavaPass is a Singapore-headquartered fitness subscription platform operating in Asia-Pacific cities including Bangkok, Beijing, Hong Kong, and Seoul. Launched in 2015, it provides access to yoga, kickboxing, Pilates, and CrossFit studios; ClassPass acquired the service in 2019. | |
| HQ Country | |  |  | | |
| HQ City | Miami, FL | Santiago | Stockholm | Singapore | |
| Deal Date | 2 Mar 2020 | 2 Mar 2020 | 15 Oct 2019 | 7 Jan 2019 | |
| Valuation | undisclosed | undisclosed | undisclosed | $4M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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ClassPass Competitors
ClassPass competitors include listed companies like Ziff Davis, QuinStreet, Ibotta and Groupon, and private ones like ShopBack and Raise.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Singapore | Private | - | - | $900M | - | |
| United States | Publicly listed | $1.5B | $335M | $2B | 1.0x | |
| United States | Publicly listed | $1.3B | $61M | $1B | 0.7x | |
| United States | Publicly listed | $342M | $7M | $966M | 2.4x | |
| United States | Publicly listed | $498M | ($19M) | $776M | 1.7x | |
| Chicago, IL | Private | - | - | $675M | - |
ClassPass Public Comps
ClassPass is no longer listed, but its public comps include QuinStreet, SMZDM.com, LegalZoom, Ibotta, Nextdoor, Grupa Pracuj, Upwork, Yelp, Baltic Classifieds Group and Eurowag.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $61M | 0.7x | 0.7x | 15.7x | 7.8x | |||
| $192M | $20M | 4.9x | 4.7x | 48.2x | 42.4x | |||
| $756M | $74M | 1.1x | 1.1x | 11.7x | 4.6x | |||
| $342M | $7M | 2.5x | 2.4x | 114.1x | 15.2x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.9x | |||
| $213M | $94M | 4.7x | 4.5x | 10.6x | 10.0x | |||
| $788M | $180M | 1.0x | 1.1x | 4.5x | 3.5x | |||
| $1.5B | $251M | 0.7x | 0.7x | 4.4x | 3.3x | |||
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Common questions about ClassPass
| When was ClassPass founded? | ClassPass was founded in 2011. |
| Where is ClassPass headquartered? | ClassPass is headquartered in New York City, NY, United States. |
| Is ClassPass publicly listed? | No, ClassPass was acquired by Mindbody Business in October 2021. |
| Who acquired ClassPass? | ClassPass was acquired by Mindbody Business in October 2021. |
| What is ClassPass' valuation? | ClassPass was last valued at $1B in its Series E in January 2020. |
| How much funding has ClassPass raised? | ClassPass has raised $549M across 8 funding rounds. |
| What was ClassPass' last funding round? | ClassPass' last funding round was a $285M Series E in January 2020, led by Apax Digital and L Catterton. |
| Who are ClassPass' investors? | ClassPass' investors include Acequia Capital (AceCap), Temasek, General Catalyst, Hank Vigil, GV, Fritz Lanman, Springboard Growth Capital, Moonshots Capital, L Catterton, Fifth Wall and 23 others. |
| Which companies are comparable to ClassPass? | Companies comparable to ClassPass include ShopBack, Ziff Davis, QuinStreet, Ibotta, Groupon and Raise. |
| How many companies has ClassPass acquired? | ClassPass has acquired 5 companies, including Clickypass, MuvPass, Fitness Collection, GuavaPass and fitmob. |
| What was the largest acquisition by ClassPass? | The $4M acquisition of GuavaPass in January 2019 is the largest acquisition ClassPass has made to date. |
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