ClassPass becomes the first unicorn of the decade as the newest female-founded company to join the ranks of billion-dollar startups:
Founded in 2013 by Payal Kadakia, ClassPass was the original fitness aggregator and the first to recognize consumers’ increasing desire to add variety, such as that provided by independent boutique studios, into their regular fitness regimens.
“We’re a very mission-oriented company, dedicated to helping more people around the globe get active while also using our powerful tools to help small fitness businesses thrive,” said ClassPass founder Payal Kadakia. “We were the original fitness marketplace, and our members have stayed with us as we’ve continued to evolve, expand and offer new experiences.
According to Lanman and Kadakia, their aggressive international expansion has been aided by enthusiastic word-of-mouth and met very positively by fitness-minded individuals and leading studios. “It has been so gratifying that, as we’ve entered new countries, studios and consumers have been so eager to partner with us. Studios want access to our state-of-the-art technology that helps them drive new, high-quality customers to their studios and optimize inventory and pricing.
As far as what we can expect from their company now that they’ve reached this funding milestone, Lanman and Kadakia are planning on doing more of what they do best. “More countries, more studios in more cities within existing geographies, more cutting-edge tools to help partners compete and thrive, and more inventory for our customers to access,” said Lanman.
“Our mission has always been to seamlessly connect people to soul-nurturing experiences,” said Kadakia. “We have never and will never stray from that powerful goal because we believe that time is our most valuable currency. This new cash infusion will help us broaden these experiences and bring them to more people—whether they’re in global capitals like New York, London, Singapore, or Buenos Aires or the small town next door.
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