ClassPass, a fitness startup has announced it raising $30 million in Series C round of funding led by Google Ventures along with existing investors General Catalyst and Thrive. The new funding follows a $40 million raise announced in January.
Founded in 2013, ClassPass is a fitness startup with membership program for fitness classes across multiple gyms and studios making workout more accessible to wherever the user is. From the date of commencement, the startup has facilitated more than 1,500,000 reservations at 2,000 plus different classes in more than 20 markets around USA. For a monthly subscription of $125, it allows unlimited access to all kinds of fitness that includes yoga to dance to barre to jogging. Only disadvantage is that users can visit a particular class for not more than three times in a single month, so that ClassPass’ gym partners get new leads.
ClassPass founder and CEO Payal Kadakia said, “As we continue to rapidly grow, we have fundamentally changed the way people consumer fitness activities. We are not increasingly focused on improving and enhancing the ClassPass experience, providing our users a more personalized, robust membership and our studio partners tools and resources to better optimize and grow their businesses.”
Google got onboard seeing the good time for ClassPass. In the matter of two years, the startup has expanded to 35 cities, five of which are outside the USA. Also, the startup quite recently acquired its main competitor, Fitmob.
However, the ClassPass did face some issues like its customers complaining it is difficult to get into their preferred classes and its partners complaining that clients coming through ClassPass can have negative impact on regular clients. Also, it faced a huge blow when it increased its rates in July in New York City, causing some users to threaten to abandon the platform.
Despite of all these issues, ClassPass seems to be growing well in the market. It has booked 10 million classes through its system, claims the company.