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- Wellhub
Wellhub Revenue, Valuation, Funding & Investors
Wellhub is valued at $2.4B as of August 2023.
Last Wellhub valuation
$2.4B
Series F · Aug 2023
Last Wellhub funding round
$85M
Series F · Aug 2023
Wellhub revenue
$180M
Series E · Jun 2021
Key investors in Wellhub
General Atlantic
SoftBank Group
Valor Capital Group
Moore Strategic Ventures
EQT
Kaszek
About Wellhub
Wellhub is a São Paulo-headquartered corporate wellness platform formerly known as Gympass, serving over 2000 companies worldwide. The service connects employees to 50,000 gyms, studios, and apps in 14 countries, promoting physical activity to boost engagement and performance.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$180M (Jun 2021)
Valuation
$2.4B (Aug 2023)
Wellhub Valuation
Wellhub is currently valued at $2.4B, based on its Series F in August 2023.
The $85M round was led by EQT, General Atlantic and Moore Strategic Ventures, with participation from Neuberger Berman.
Wellhub's valuation has grown 2.4x from $1B at its Series D in June 2019 to $2.4B in August 2023, across 3 priced rounds.
Wellhub valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2023 | Series F | $2.4B | - |
| Jun 2021 | Series E | $2.2B | 12.2x |
| Jun 2019 | Series D | $1B | - |
Wellhub Revenue
Wellhub's latest recorded revenue is $180M, as of its Series E in June 2021. At a $2.2B valuation, that implies a 12.2x revenue multiple.
Wellhub revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $180M | $2.2B | 12.2x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Wellhub Funding History
Wellhub has raised a total of $605M across 3 funding rounds.
Wellhub's first fundraising round was a $300M Series D in June 2019. The most recent completed round was a $85M Series F in August 2023.
Wellhub funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2023 | Series F | EQT (lead); General Atlantic (lead); Moore Strategic Ventures (lead); Neuberger Berman | $85M | $2.4B | Wellhub (formerly Gympass) is a New York-based corporate wellness platform providing employees with access to a global network of over 50,000 gyms, studios, classes, personal trainers, and wellness apps through a single subscription benefit aimed at improving wellbeing, productivity, and retention while reducing healthcare costs. On August 23, 2023, Wellhub raised $85 million in a Series F funding round led by EQT Growth, with participation from General Atlantic, Moore Strategic Ventures, Neuberger Berman, and Valor Capital Group, achieving a $2.4 billion post-money valuation. General Atlantic and Moore Strategic Ventures also purchased existing shares from earlier investors and employees. The funds are intended to scale global operations, expand wellness partnerships, enhance digital experiences, and accelerate AI-driven personalization. The round occurred during a record year for Wellhub, marked by nearly doubling its customer base to over 15,000 corporate clients (up 80% YoY), including Aflac, Citizens Financial Group, Dignity Health, and Zendesk, and surpassing two million employee subscribers with 300 million total check-ins. A Wellhub study highlighted that physically active employees can reduce company healthcare costs by 35% after 12 months. Wellhub differentiates by centralizing wellness solutions with data-driven insights and AI personalization, without owning gyms or competing with partners. Post-round growth continued strongly: by August 2024, Wellhub reached 500 million check-ins and three million subscribers since inception, with over 75% average annual growth in partner payments from 2021-2024 and 8,000 new partners joining in 2024. Exclusive partners grew 20% faster. In 2025, gross payouts to partners nearly doubled YoY in the U.S. and grew 107% globally, with check-ins hitting 1 billion from 100 million in 2022, driven by high engagement rates 3-5x traditional wellness programs. |
| Jun 2021 | Series E | SoftBank Group; Kaszek; General Atlantic; Moore Strategic Ventures; Valor Capital Group | $220M | $2.2B | Wellhub, formerly known as Gympass, is a corporate wellness platform founded in 2012 that connects employees with fitness and wellness partners globally. The company provides a unified platform offering access to gyms, fitness studios, personal trainers, digital wellness apps, mental health services, and nutrition solutions through a single employee benefit. On June 29, 2021, Wellhub announced a $220 million Series E funding round that valued the company at $2.2 billion, more than doubling its previous valuation of approximately $1 billion from June 2019. The round was led by multiple investors including SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek, and Valor Capital Group. At the time of the funding, Wellhub had grown its customer base to approximately 3,000 corporate clients and reported more than 15 million employee subscribers across its network of over 50,000 partners globally. The company used the proceeds to accelerate growth in the United States, expand into new wellness categories including digital fitness and mental health, improve product experiences for corporate clients and end users, and add new partners such as Barry's, SoulCycle, F45, Strava, Calm, and LifeSum to its platform. The funding reflected strong post-pandemic recovery momentum as employees returned to physical fitness activities and companies prioritized employee wellness and retention. |
| Jun 2019 | Series D | SoftBank Group (lead); General Atlantic; Valor Capital Group; Atomico | $300M | $1B | Wellhub (formerly Gympass) operates a corporate wellness platform offering fitness, mental health, nutrition, and lifestyle services via a network of gyms, studios, apps, and partners to improve employee wellbeing, productivity, and retention using data-driven and AI-personalized solutions. |
Who has invested in Wellhub?
8 investors have backed Wellhub across its funding rounds, including General Atlantic, SoftBank Group, Valor Capital Group, Moore Strategic Ventures, EQT and Kaszek.
Lead investors include EQT, General Atlantic, Moore Strategic Ventures and SoftBank Group.
Wellhub Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2019 | ||
| 2 | Lead | Jun 2019 | ||
| 2 | Lead | Jun 2021 | ||
| 2 | Participant | Jun 2019 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
This data is available for Pro users. Sign up to see all 8 Wellhub investors. Start Free Trial | ||||
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 Wellhub
Wellhub has acquired 7 companies to date.
Last acquisition by Wellhub was on March 25th 2025. Wellhub acquired Urban Sports Club for $600M.
Latest Acquisitions by Wellhub
| Description | Urban Sports Club is a Berlin-headquartered fitness subscription service granting access to over 10,000 venues across Germany, France, Italy, Spain, Portugal, and Belgium. Members select from yoga studios, climbing gyms, pools, and team sports via a single app. Founded in 2012, the platform has acquired competitors like OneFit to expand its multi-sport offerings for individuals and corporate wellness programs. | Fitprime is a Rome-based online platform launched in February 2016 that grants unlimited access to sport centers via daily or monthly subscriptions. It connects users to gyms, studios, and facilities across Italy for varied workout options including yoga and climbing sessions. | Vitalk is a Brazil-based platform delivering emotional and mental health support to corporate employees. São Paulo-headquartered since 2019, Vitalk connects users to licensed psychologists via app-based video sessions, chat, and self-assessments, covering anxiety, stress, and burnout. The service reaches over 100 companies with customized programs, achieving 90 percent user satisfaction through anonymous access and 24/7 availability. | 7card is a Romania-based network offering multi-partner discounts for fitness centers, spas, and wellness services. Cardholders access over 1,000 gyms, pools, saunas, and sports facilities across the country with a single subscription. Plans start at affordable monthly rates, covering activities from yoga classes to tennis courts. Launched in 2014, 7card serves more than 200,000 users and partners with chains like World Class and City Gym. The service extends to corporate wellness programs for employee benefits. | |
| HQ Country | |||||
| HQ City | Berlin | Rome | São Paulo | - | |
| Deal Date | 25 Mar 2025 | 13 Dec 2024 | 6 Apr 2022 | 9 Feb 2022 | |
| Valuation | $600M | $4M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Wellhub acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Wellhub Competitors
Wellhub competitors include listed companies like Clover Health, Pluxee and Progyny, and private ones like Transcarent, Garner Health and Thyme Care.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.9B | ($84M) | $2.4B | 0.8x | ||
| Publicly listed | $1.5B | $500M | $2.4B | - | ||
| Private | $50M | - | $2.2B | 44.0x | ||
| Private | $200M | - | $2.7B | 13.7x | ||
| Publicly listed | $1.3B | $90M | $2.1B | 1.4x | ||
| Private | - | - | $2B | - |
Wellhub Public Comps
Wellhub is still privately-owned, but its public comps include Clover Health, Pluxee, Callaway Golf, Peloton, Progyny, Technogym, Johnson Health Tech, Herbalife, GoodRx and Eurowag.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.9B | ($84M) | 1.1x | 0.8x | (25.8x) | 34.1x | |||
| $1.5B | $500M | - | - | - | - | |||
| $2.1B | $195M | 1.3x | 1.3x | 13.4x | 10.5x | |||
| $2.4B | $208M | 1.1x | 1.1x | 12.8x | 5.6x | |||
| $1.3B | $90M | 1.4x | 1.4x | 20.6x | 8.0x | |||
| $1.2B | $239M | 2.4x | 2.3x | 11.8x | 10.9x | |||
| $1.7B | $176M | 1.0x | 1.0x | 9.5x | 10.1x | |||
| $5B | $602M | 0.6x | 0.6x | 5.1x | 4.6x | |||
This data is available for Pro users. Sign up to see all Wellhub competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Wellhub
| When was Wellhub founded? | Wellhub was founded in 2012. |
| Where is Wellhub headquartered? | Wellhub is headquartered in São Paulo, Brazil. |
| Is Wellhub publicly listed? | No, Wellhub is a private, VC-backed company. |
| What is Wellhub's valuation? | Wellhub was last valued at $2.4B in its Series F in August 2023. |
| How much funding has Wellhub raised? | Wellhub has raised $605M across 3 funding rounds. |
| What was Wellhub's last funding round? | Wellhub's last funding round was a $85M Series F in August 2023, led by EQT, General Atlantic and Moore Strategic Ventures. |
| Who are Wellhub's investors? | Wellhub's investors include General Atlantic, SoftBank Group, Moore Strategic Ventures, Valor Capital Group, EQT, Neuberger Berman, Kaszek and Atomico. |
| What is Wellhub's revenue? | Wellhub's latest recorded revenue is $180M (June 2021). |
| What is Wellhub's revenue multiple? | Wellhub's latest valuation implies a 12.2x revenue multiple ($2.2B valuation on $180M of revenue). |
| Which companies are comparable to Wellhub? | Companies comparable to Wellhub include Clover Health, Pluxee, Transcarent, Garner Health, Progyny and Thyme Care. |
| How many companies has Wellhub acquired? | Wellhub has acquired 7 companies, including Urban Sports Club, Fitprime, Vitalk, 7card and Andjoy. |
| What was the largest acquisition by Wellhub? | The $600M acquisition of Urban Sports Club in March 2025 is the largest acquisition Wellhub has made to date. |
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