Gympass announces new funding from SoftBank Vision Fund, Latin America Fund
Gympass, a corporate fitness platform, announced that it has partnered with SoftBank Vision Fund and SoftBank Latin America Fund. Both funds will join existing investors General Atlantic, Atomico, and Valor Capital Group and will support Gympass to defeat inactivity worldwide. Gympass said in a statement, "At a time when approximately 1.4 billion people worldwide are inactive, global organizations recognize the increasingly critical role they play in getting their employees more active. This wellness movement continues to grow across the globe, as organizations find ways to connect employees to gyms, studios, and activities. Through a wellness solution powered by innovative technology, Gympass has grown across multiple markets in Latin America, North America, and Europe with a network of nearly 47,000 gyms, the largest gym network globally." The initial investment was completed by the Vision Fund. The Latin America Fund will join the deal alongside the Vision Fund once the applicable authorizations and closing conditions have been met.