ClassPass raises $70M in a Series C to beef up its tech platform

June 20, 2017

ClassPass, the service that gets you into your favorite fitness classes, recently raised $70 million in a Series C funding. Led by Temasek, this is ClassPass’ largest funding to date. The plan is to use that money to enhance their technical platform.

"I'm looking forward to using this new injection of funds to build on our momentum and to further deepen the technical sophistication of our platform," Fritz Lanman, CEO of ClassPass, said in a statement. “This year we're focused on improving our customer and partner experiences while expanding into new fitness categories and audiences.”

With 8,500 partners in 39 cities worldwide, ClassPass has grown significantly since it was founded in 2013. The latest funding will help add to the technical features the company has rolled out over recent years: video on-demand, social features and the ability to return to favorite studios more frequently.

"The acceleration we've seen this year is validation that our new plan offerings and recently rolled out product features have incredible traction and engagement," Payal Kadakia, Founder and Executive Chairman, said in the press release.

This latest round of funding brings ClassPass’s total funding to $173 million. The company has over 35 million reservations to date, and there are no signs of slowing down.

 

Photos via Facebook.

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