Cash Flow: Kindbody’s Record-Breaking Raise, Xponential Fitness Files For IPO, Gympass Banks $220M

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Hims & Hers

Telehealth platform Hims & Hers announced its intention to acquire teledermatology specialist Apostrophe, as part of its ongoing category expansion. Financial details of the transaction were not disclosed.

The deal will expand Hims & Hers’ ability to provide consumers with some of the most advanced and personalised dermatology treatments, faster and at scale.

Kindbody announces largest fertility raise in history with $62m Series C funding

Kindbody, a US-based fertility company raised $62m in a Series C funding round led by Theresa Sexton, Managing Partner of Claritas Health Ventures. Investment groups Bramalea Partners, Monashee Investment Management and Eldridge, along with participating existing investors including GV (formerly Google Ventures), Perceptive Advisors, RRE Ventures and Rock Springs Capital also participated.

This latest funding comes less than a year after Kindbody announced its Series B, bringing its total capital raised to $122m, and a company valuation of $612m. 

Gympass doubles valuation to $2.2bn following $220m round

Corporate wellbeing platform Gympass has doubled its valuation to $2.2bn following a $220m funding round. Softbank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group all participated in the round.

In May, Gympass saw a record 4 million monthly visits across its unrivalled network of over 50,000 global partners, with many of Gympass’ clients seeing usage above pre-covid levels, highlighting an eager return to in-person fitness. 

FightCamp raises $90m for connected boxing brand

Connected fitness brand FightCamp has completed a $90m funding round featuring a group of celebrity investors and venture capitalists. 

The round was led by global venture capital firm New Enterprise Associates (NEA) and Connect Ventures, an investment partnership between leading entertainment and sports agency Creative Artists Agency (CAA) and NEA, and celebrity investors rooted in the world of Boxing and MMA including Mike Tyson and  Floyd Mayweather.

FightCamp plans on expanding to the Android platform, launching internationally, and increasing the depth of its interactive content to help users dive deeper into the sport of Boxing, Kickboxing, and Martial Arts.

Plant-Based brand This banks £11m in Series A round

UK plant-based meat startup THIS has closed an £11m Series A round led by BGF and Lever VC. It claims this is the largest ever Series A fundraise for a UK based alt meat brand.

The capital has been earmarked to support the rapid growth of the business, expand R&D capabilities and help to bring to market new products across the UK. The fundraise follows a record-breaking seed round for the brand, which secured £8.7m from VC investors Backed and Five Seasons.

Beachbody goes public

Beachbody, a worldwide leader in health and fitness, with a 22-year track record of creating powerful brands including Insanity and P90X has gone public following a three-way merger with Forest Road Acquisition Corp and Myx Fitness Holdings.

“This marks an important milestone in Beachbody’s mission to help more people achieve their goals and lead healthy, fulfilling lives,” said Beachbody CEO and Co-founder Carl Daikeler. “With this transaction, we will deploy capital to grow our platform, add connected fitness hardware through the acquisition of Myx and continue to create the most exciting and innovative in-home fitness content.”

Xponential Fitness Files For IPO

Xponential Fitness, a curator of leading boutique fitness brands, has announced that it has filed for IPO in the US. The number of shares to be offered and the price range for the proposed offering have not yet been determined. 

Since being founded in 2017, the company has built and curated a diversified platform of nine boutique fitness brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running and yoga.

VR meditation brand Tripp lands $11m

Tripp, a startup using virtual reality in meditation has raised $11m in an investment round led by Vine Ventures and Mayfield, with participation from Integrated. This brings the company’s overall funding to $15m, with its first $4m secured back in September 2017.

Tripp, which has apps on both the Oculus and PlayStation VR stores says users have gone through over 2 million sessions so far.

New female-founded CBD brand House of Wise secures $2m

New female-founded CBD brand House of Wise announced a $2m seed funding round to support its mission of improving the lives of women everywhere through community, content and trustworthy CBD products.

The seed round was led by Sugar Capital, with participation from Selva Ventures, Max Ventures, Dream Ventures, and notable strategic angels NBA Star Baron Davis, Fabletics Co-founder Jack McCue, Former President & COO of Focus Brands, Kat Cole, and leading millennial women’s podcast platform Dear Media. The funding will be used to drive House of Wise’s strategy and growth in building the leading CBD brand at the thoughtful intersection of community, content and commerce.