Mindbody operates a SaaS platform that powers tens of thousands of wellness businesses and runs a consumer-facing marketplace for booking fitness, salon and spa experiences. The company has built a fully integrated virtual platform, enhanced marketing automation tools, and launched Mindbody Capital to offer financing to small business owners. Mindbody announced it is acquiring ClassPass, a subscription service providing access to a broad network of fitness and wellness experiences, in an all-stock transaction at a non-disclosed price. ClassPass offers data-driven SmartTools that typically drive a 30% increase in reservation volume and a 15%–20% increase in revenue for studios; 50% of ClassPass members are new to boutique fitness and 80% visit a new studio for the first time using the platform. The companies report bookings on Mindbody are rebounding to pre-COVID levels in several markets and ClassPass consumer usage is at 110% of pre-COVID usage for subscribers who have returned. Mindbody plans to integrate both teams while keeping the ClassPass app and website operational, with Fritz Lanman named President of ClassPass and Mindbody Marketplace to work alongside Mindbody’s executive team. Mindbody provides a SaaS management solution that lets local beauty, health and wellness businesses manage operations including web scheduling, staff management, point of sale and payment processing, and automated marketing and eCommerce. The platform is accessible to business owners and staff as well as clients via web and mobile apps. In 2013 the company launched a consumer booking app called MINDBODY Connect and a workplace wellness solution called MINDBODY Exchange. Led by CEO Rick Stollmeyer, Mindbody plans to use new capital to further accelerate global expansion and advance development of its web and mobile products. Financially, the company announced a $50M funding round in February 2014. The product focus remains on expanding its web/mobile capabilities and market reach. Mindbody offers a SaaS business management platform that helps local beauty, health and wellness businesses manage operations including web scheduling, staff management, point of sale and payment processing, automated marketing and eCommerce. The platform is accessible to both business owners and their clients via web and mobile apps. Led by co-founder and CEO Rick Stollmeyer, the company serves over 21,000 businesses across 80 countries. Mindbody completed a $35M funding round to support its plans. The company intends to use the funding to accelerate international expansion and ongoing product development. In conjunction with the funding, an IVP general partner joined Mindbody’s board. MindBody is a San Luis Obispo, California–based provider of business management software to the wellness industry. Founded in 2001 and led by CEO Rick Stollmeyer, the company offers a web-based business management system and mobile applications. Its products help subscribers manage businesses and enable consumers to find, book, and pay for wellness-oriented classes and appointments. Customers include over 14,000 fitness, yoga, Pilates, salons, spas and martial arts businesses in over 75 countries. The company has raised an additional $9M in funding from existing investors. It intends to use the funds to further expand internationally. Mindbody develops scheduling and business-management software delivered as a SaaS for wellness, health, spa, and related businesses. The company is headed by Rick Stollmeyer and is based in San Luis Obispo. It reported nearly $10M in revenue in 2009 and serves over 9,300 customers across 62 countries. The firm confirmed a new $14M funding round to support its health and wellness software business. Past backers include Pasadena Angels, Tech Coast Angels, and Frontera Capital. The recent financing was disclosed via a regulatory filing uncovered by socalTECH.

Total raised

$608M

Funding rounds

6

Latest round

Equity

Latest activity

Oct 2021