Wilson Sonsini Advises Gympass on $220 Million Series E
- Client Highlights
- Life Sciences
- Digital Health
On June 29, 2021, Gympass, an exercise and corporate wellness unicorn that originated in Brazil, announced it has raised $220 million in a Series E financing. Wilson Sonsini Goodrich & Rosati represented Gympass in the transaction.
In the last few months, Gympass has seen tremendous growth, as more and more people are vaccinated and heading back to the gym. The company partners with employers who pay a flat fee for the platform (an app) which allows their employees to choose from several wellbeing plans that give them access to myriad in-person gyms and studios, and a directory of health apps, such as Calm. The offerings are broken up into the following categories: physical health, emotional health, nutrition, and sleep.
The Series E round, which doubles the company’s valuation to $2.2 billion, includes participation from SoftBank, General Atlantic, More Strategic Ventures, Kaszek Ventures, and Valor. The company plans to use the money to grow the company in the U.S., expand its offerings, and improve its technology.
A Wilson Sonsini team including corporate attorneys Megan Baier, Rob Broderick, Abi Riddle, and Amy Lucas and EB&C attorneys Sriram Krishnamurthy and Matt Norgard represented Gympass in the transaction.
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