HTGF portfolio company EGYM secures ~$200 million of growth capital and becomes unicorn

September 25, 2024

• EGYM, part of the HTGF portfolio since 2011, secures approximately $200 million in funding from L Catterton and Meritech Capital, raising its pre-money valuation to over $1 billion.
• The new capital supports EGYM’s mission to continue building a leading platform at the intersection of fitness and health tech.
• Alex von Frankenberg, Managing Director at HTGF: “EGYM achieved a market leading position in the international fitness industry by developing highly innovative fitness solutions in combination with a very successful M&A strategy. The company is creating tremendous value for fitness enthusiasts, fitness clubs and its shareholders.”

Bonn / Munich, 25.9.2024 – EGYM, a vertically integrated market leader in fitness technology and corporate wellness, becomes a unicorn: The HTGF portfolio company today announced that it has raised approximately $200 million of growth capital at a pre-money valuation of over $1 billion from L Catterton, a leading global consumer-focused investment firm, and Meritech Capital, a leading Silicon Valley technology-focused venture firm. This makes EGYM one of the most successful companies in HTGF’s portfolio.
The investment will support the continued expansion of the EGYM Wellpass corporate wellness network and further development of innovative digital solutions, smart strength equipment and tech-enabled products for data-driven and personalized training, allowing fitness club operators to deliver a distinctive experience to its members.

EGYM’s mission is to transform the healthcare industry via advanced, data-driven fitness technology, focusing on prevention rather than simply addressing chronic conditions. EGYM offers gym operators the “new age” of smart, integrated strength equipment and data-enabled tools to engage with, train and retain members through AI-developed personalized workouts, health metrics tracking and interconnectivity across a member’s activities and workouts in any fitness club. EGYM has driven rapid and profitable growth in Europe and is excited by the opportunity to transform the US fitness market. With a 700-person team across the globe, the company will leverage its success in Europe to introduce its industry transforming offering around the world.

EGYM CEO Philipp Roesch-Schlanderer explains: “L Catterton and Meritech were my two absolute dream investors for our mission to build the leading global platform at the intersection of fitness and healthtech. They share our vision of turning the world’s largest market, the healthcare industry, from repair to prevention. Thanks to our smart technology solutions and our fast-growing international corporate wellness platform, we now have a real opportunity to accelerate this change and are more determined than ever to do so.”

Alex von Frankenberg, Managing Director of HTGF, who has been managing the HTGF investment in EGYM for over 10 years, says: “EGYM is the third HTGF portfolio company to achieve Unicorn status. Since the seed round in 2011, the team around founder and CEO Philipp Roesch-Schlanderer has uniquely developed and combined IoT technology, AI, and health know-how to provide a unique training and fitness experience for the broad fitness community and many athletes.”

Patrick Meininger, CFO of EGYM, says: “Our current success is not the least based on a healthy foundation that we have been able to build with HTGF as a reliable partner. Not only as an investor, but above all as a good advisor, HTGF has been instrumental in supporting us on our current path to success.”

Markus Kreßmann, Partner at HTGF, comments: “The fitness industry and its companies were hit harder as any other market during the Corona years. Thanks to strategic and exceptionally smart management, the EGYM leadership team around Philipp and Patrick managed not only to overcome the immense challenges but also to turn them into opportunities for the company. The EGYM team truly deserve this outstanding success!”

About EGYM
EGYM is a vertically integrated market leader in the fitness and health industry with the vision of transforming healthcare from repair to prevention. EGYM partners with companies to improve employee health by providing access to fitness and health facilities and equips those facilities with smart gym equipment and digital solutions to offer an AI-driven workout experience for people of all skill levels. Corporates benefit from reduced healthcare costs and increased productivity, and clubs from a growing membership base that stays engaged. For more information about EGYM, please visit egym.com.

About HTGF – High-Tech Gründerfonds 
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing start-ups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports start-ups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Across its funds, HTGF has over 2 billion euros under management. Since its inception in 2005, HTGF has financed more than 750 start-ups and has achieved more than 180 successful exits.  
Fund investors in the public-private partnership include the German Federal Ministry of Economics and Climate Action, KfW Capital and 45 companies and family offices.  
For more information, please visit HTGF.de or follow us on LinkedIn.   

Media contact 
High-Tech Gründerfonds Management GmbH 
Tobias Jacob, Senior Marketing & Communications Manager  
T.: +49 228 – 82300 – 121
t.jacob@htgf.de