Start-ups
German Fitness Specialist Becomes Unicorn
A successful late-stage financing round has taken the value of Munich start-up EGYM over a billion dollars.
Sep 27, 2024
EGYM received EUR 180 million in Series G financing to achieve its unicorn status. The company provides hardware and a cloud platform to optimize the experiences of both trainers and fitness club members.
Founded in 2010, the company turned an operative profit last year, doing an estimated EUR 210 million in business. That represented an annual increase of 60 percent.
Industry experts say that EGYM could record turnover of half-a-billion euros by 2025. One new funding source for the company is L Catterton, which calls itself the world’s largest fitness investor.
