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- Wellhub
Wellhub Revenue, Valuation, Funding & Investors
Wellhub is valued at $2.4B as of August 2023, a 3.2x revenue multiple. Wellhub revenue was $750M, as disclosed with its latest round.
Last Wellhub valuation
$2.4B
Series F · Aug 2023
Last Wellhub funding round
$85M
Series F · Aug 2023
Wellhub revenue
$750M
Series F · Aug 2023
Key investors in Wellhub
Valor Capital Group
General Atlantic
Kaszek
Atomico
Redpoint eventures
Valor Ventures
About Wellhub
Wellhub, formerly Gympass, is a corporate wellness company that employers use to give staff one membership covering gyms, studios, personal trainers and wellness apps for fitness, mindfulness, therapy, nutrition and sleep. It was founded in Brazil in 2012 by Cesar Carvalho, Vinicius Ferriani and Joao Thayro, moved its headquarters from Sao Paulo to New York in 2018 and later rebranded as Wellhub. The company aggregates independent partners rather than operating facilities. In 2025 it reported serving 39,000 corporate clients in 18 countries and connecting five million employee subscribers to 97,000 wellness partners, and it has about 1,800 employees. It raised $300 million from SoftBank in 2019, $220 million at a $2.2 billion valuation in 2021 and $85 million at $2.4 billion in 2023 led by EQT Growth. It bought Flaner, Trainiac, 7card, Andjoy, Vitalk, Fitprime and, for $600 million, Urban Sports Club.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$750M (Aug 2023)
Valuation
$2.4B (Aug 2023)
Wellhub Valuation
Wellhub is currently valued at $2.4B, based on its Series F in August 2023. Read the announcement ↗
The $85M round was led by EQT, with participation from Neuberger Berman, General Atlantic and Moore Strategic Ventures.
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 | 3.2x |
| Jun 2021 | Series E | $2.2B | - |
| Jun 2019 | Series D | $1B | - |
Wellhub Revenue
Wellhub's latest recorded revenue is $750M, as of its Series F in August 2023. At a $2.4B valuation, that implies a 3.2x revenue multiple.
Wellhub revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2023 | $750M | $2.4B | 3.2x | Series F |
* 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 $697M across 7 funding rounds.
Wellhub's first fundraising round was a seed round in January 2012. 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); Neuberger Berman; General Atlantic; Moore Strategic Ventures | $85M | $2.4B | Wellhub, formerly Gympass, raised $85 million in a Series F on 23 August 2023 at a valuation of $2.4 billion. The round was led by EQT Growth, with Neuberger Berman participating on behalf of its client funds. General Atlantic and Moore Strategic Ventures, existing investors, also bought shares from earlier investors and from current and former employees. The company said it had grown its customer base by 80% to more than 15,000 corporate customers and passed two million employee subscribers across a network of more than 50,000 partners, and that the funds would go into global growth and the platform experience. Wellhub was founded in Brazil in 2012 and is headquartered in New York. It sells a corporate wellness benefit that gives employees access to gyms, studios, personal trainers and wellness apps through one subscription, without owning facilities or competing with its partners. |
| Jun 2021 | Series E | SoftBank Group; Kaszek; General Atlantic; Moore Strategic Ventures; Valor Capital Group | $220M | $2.2B | Gympass announced a $220 million Series E on 29 June 2021 at a valuation of $2.2 billion, more than double the roughly $1 billion at which it had last raised in 2019. The round was led by SoftBank's Vision Fund, backed by its Latin America Fund, with General Atlantic, Kaszek, Valor Capital Group and Moore Strategic Ventures also investing. The company said it would use the proceeds to grow in the United States, improve the product for employers and employees and add new wellness categories such as digital fitness and mental health. It reported a record four million monthly check-ins across more than 50,000 partners worldwide. Gympass was founded in Brazil in 2012 and sells a corporate wellness benefit: employers pay a flat fee and employees get access to gyms, studios, personal trainers and wellness apps through one subscription. The company aggregates independent partners rather than owning facilities, and later rebranded as Wellhub. |
| Jun 2019 | Series D | SoftBank Group (lead); General Atlantic; Valor Capital Group; Atomico | $300M | $1B | Gympass raised $300 million in June 2019 in a Series D led by the SoftBank Vision Fund, with General Atlantic, Atomico and Valor Capital Group also investing. The round valued the company at about $1 billion and made it a unicorn; its previous round, a Series C in September 2017, had been led by General Atlantic. Gympass planned to use the funds to expand into Asia while growing in the 14 countries where it already operated, with the United States as its main focus. SoftBank's money came from its $100 billion Vision Fund and a $5 billion Latin American fund. Gympass was founded in Brazil in 2012 and sells a corporate wellness benefit: employers pay for plans that give employees access to a network of gyms, studios and wellness apps through one subscription. The company aggregates independent partners instead of owning facilities, and later rebranded as Wellhub. |
| Sep 2017 | Series C | General Atlantic (lead); Kaszek; Kevin Efrusy; Valor Ventures; Valor Capital Group; Atomico | $78M | - | Gympass raised a Series C in September 2017 led by the New York investor General Atlantic, with earlier backers Atomico, Valor Ventures, Kevin Efrusy and Kaszek Ventures also participating. PitchBook records the round at $78 million, bringing the total raised by the company to about $101 million. It came a year after a Series B of $14.3 million; the next round, a $300 million Series D led by SoftBank in June 2019, valued Gympass at about $1 billion. Gympass was founded in Brazil in 2012 and sells a corporate wellness benefit: employers pay for plans that give employees access to a network of gyms, studios and wellness apps through one subscription. The company aggregates independent partners rather than owning facilities and later rebranded as Wellhub. |
| Jun 2016 | Series B | Atomico (lead); Redpoint eventures; Kaszek; Kevin Efrusy; Provence Capital; Valor Ventures; Valor Capital Group | $14M | - | Gympass, now Wellhub, closed a Series B in June 2016 led by Atomico, which had also led the previous round. The amount was not announced by the company. The funding came about a year after the Series A and supported the expansion of the service beyond its Brazilian base. Gympass was founded in Brazil in 2012 as a corporate benefit giving employees access to gyms and studios through a single membership. Employers buy plans for their workforces and employees use the membership across fitness, personal training, mindfulness, therapy, nutrition and sleep services. The platform aggregates independent gyms, studios, coaches and digital applications rather than operating a chain of facilities. It later expanded internationally and moved its headquarters to New York in 2018, and rebranded as Wellhub. |
| May 2015 | Series A | Atomico (lead); Koolen & Partners; Redpoint eventures; Kaszek; Kevin Efrusy; Valor Ventures; Valor Capital Group | - | - | Gympass closed its Series A in May 2015 with London-based Atomico as lead investor. Brazilstrat lists Kaszek Ventures, Valor Ventures, Redpoint eventures and the Silicon Valley angel investor Kevin Efrusy as the other participants, and a Brazilian start-up retrospective also names Koolen & Partners. The amount was not disclosed, and Valor Capital Group has separately described itself as having led the company's Series A, so the lead role is reported by one source only. The round followed the 2012 seed and preceded the Series B of June 2016. Gympass was founded in Brazil in 2012 and sells a corporate wellness benefit: employers pay for plans that give employees access to a network of gyms, studios and wellness apps through one subscription. The company aggregates independent partners rather than owning facilities and later rebranded as Wellhub. |
| Jan 2012 | Seed | Redpoint eventures; Kiko Lumack; Eduardo Campos; Romero Rodrigues | - | - | Gympass, the Brazilian corporate wellness platform now called Wellhub, raised its seed round in January 2012 from a small group of Brazilian angel investors and the Sao Paulo venture firm Redpoint eventures. Brazilstrat names Eduardo Brennand Campos, a Sao Paulo angel investor, as the source of the seed money, while a Brazilian start-up retrospective lists Romero Rodrigues, Redpoint eventures, Kiko Lumack and Eduardo Campos as the seed investors. The amount was not disclosed. Gympass was founded in 2012 by Cesar Carvalho and his co-founders as a corporate benefit that gives employees one membership covering many gyms and studios, paid for by the employer. The platform aggregates independent gyms, studios, trainers and wellness apps instead of owning facilities, and the company later expanded across Europe and North America and rebranded as Wellhub. |
Who has invested in Wellhub?
16 investors have backed Wellhub across its funding rounds, including Valor Capital Group, General Atlantic, Kaszek, Atomico, Redpoint eventures and Valor Ventures.
Lead investors include EQT, SoftBank Group, General Atlantic and Atomico.
Wellhub Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Participant | May 2015 | ||
| 4 | Participant | May 2015 | ||
| 4 | Lead | Sep 2017 | ||
| 4 | Lead | May 2015 | ||
| 3 | Participant | Jan 2012 | ||
| 3 | Participant | May 2015 | ||
| 3 | Participant | May 2015 | ||
| 2 | Lead | Jun 2019 | ||
| 2 | Participant | Jun 2021 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | May 2015 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Jan 2012 | ||
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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 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 Brazilian digital mental-health company that combines chatbot-guided preventive programs, clinical content, assessments and access to psychologists for employers and their workforces. Wellhub acquired the company in 2022 and integrated its artificial-intelligence tools, programs and team into the Wellz emotional-health service. | 7Card is a Romanian corporate wellbeing platform that gives employees subscription access to gyms, studios, sports facilities and digital wellness services. Employers purchase the benefit for their workforces, while members use a single account across a national partner network. Wellhub acquired 7Card from Sodexo in 2022 and continued the service as 7Card by Gympass. | |
| HQ Country | |||||
| HQ City | Berlin | Rome | São Paulo | - | |
| Deal Date | 25 Mar 2025 | 13 Dec 2024 | 6 Apr 2022 | 19 Jan 2022 | |
| Valuation | $600M | $52M | 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, Progyny and Pluxee, and private ones like Transcarent, Angle Health and Garner Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.9B | ($84M) | $2.4B | 0.8x | ||
| Publicly listed | $1.3B | $90M | $2.2B | 1.5x | ||
| Private | $50M | - | $2.2B | 44.0x | ||
| Publicly listed | $1.5B | $507M | $2.7B | 0.9x | ||
| Private | - | - | $2.7B | - | ||
| Private | $200M | - | $2.7B | 13.7x |
Wellhub Public Comps
Wellhub is still privately-owned, but its public comps include Clover Health, Peloton, Progyny, Pluxee, Callaway Golf, Technogym, Herbalife, GoodRx, Johnson Health Tech 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 | (25.3x) | 30.2x | |||
| $2.4B | $208M | 1.1x | 1.1x | 13.2x | 5.7x | |||
| $1.3B | $90M | 1.6x | 1.5x | 22.4x | 8.6x | |||
| $1.5B | $507M | 0.9x | 0.9x | 2.5x | 2.4x | |||
| $2.1B | $195M | 1.3x | 1.3x | 13.8x | 10.6x | |||
| $1.1B | $232M | 2.6x | 2.4x | 12.8x | 11.8x | |||
| $5B | $602M | 0.6x | 0.6x | 5.3x | 4.8x | |||
| $797M | $173M | 1.8x | 1.8x | 8.3x | 5.7x | |||
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Common questions about Wellhub
| When was Wellhub founded? | Wellhub was founded in 2012. |
| Where is Wellhub headquartered? | Wellhub is headquartered in New York, United States. |
| 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 $697M across 7 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. |
| Who are Wellhub's investors? | Wellhub's investors include Valor Capital Group, Kaszek, General Atlantic, Atomico, Redpoint eventures, Kevin Efrusy, Valor Ventures, SoftBank Group, Moore Strategic Ventures, EQT and 6 others. |
| What is Wellhub's revenue? | Wellhub's latest recorded revenue is $750M (August 2023). |
| What is Wellhub's revenue multiple? | Wellhub's latest valuation implies a 3.2x revenue multiple ($2.4B valuation on $750M of revenue). |
| Which companies are comparable to Wellhub? | Companies comparable to Wellhub include Clover Health, Progyny, Transcarent, Pluxee, Angle Health and Garner Health. |
| 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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