CMS advises new unicorn EGYM on financing round worth some USD 200 million
Munich, 26.09.2024 – EGYM, the international innovation leader in corporate wellness and fitness technology, has completed a Series G round of financing worth some USD 200 million. The company’s new funders are US investors L Catterton, a major consumer goods growth fund and fitness investor, and Meritech Capital, a leading technology-focused investor from Silicon Valley. With a pre-money valuation of more than EUR 1 billion as the basis for the round, EGYM has thus achieved unicorn status.
The investment will support further expansion of the EGYM Wellpass wellness network and the development of innovative digital solutions, smart strength training equipment and tech-enabled products for data-driven and personalised training. The company is also focusing on developing its own AI assistant, called Genius. EGYM grew strongly in 2023 and became profitable for the first time. The firm is aiming to continue this strong growth in 2024.
A CMS team headed by lead partners Stefan-Ulrich Müller and Dr Tilman Weichert once again advised EGYM on all legal aspects of the new round of financing. EGYM has been a CMS client for many years, involving a close relationship across a range of matters. The Munich-based venture capital team has been advising EGYM since 2014 on financing rounds, venture debt transactions and acquisitions. Recent examples include the growth financing deal worth EUR 207 million agreed last year, followed this year by the acquisition of British fitness provider Archway Fitness Ltd, London (which trades as Hussle).
CMS Germany
Dr Tilman Weichert, Lead Partner
Stefan-Ulrich Müller, Lead Partner
Sebastian Hummel, Senior Associate
Jonas Ohmann, Associate, all Corporate/Venture Capital
Stefan Lehr, Partner, Antitrust, Competition & Trade
Martin Mohr, Partner, Tax
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