Page 77

Gympass funding round In June 2021, Gympass secured a funding round of US$220m, valuing the company at US$2.2bn. This investment is to drive growth, ‘improve the product experience’ and continue the company’s expansion into categories such as digital fitness, mental health and nutrition. PHOTO: SHUTTERSTOCK/JACOB LUND

from home, operators will need to ensure they can match this new behaviour. Offering digital classes, virtual PT sessions and a range of mental health and wellness options alongside their in-person delivery will keep all bases covered. Not just for now but in case, dare we say it, restrictions tighten again. What we’re seeing from members is hugely positive. They’re craving the sense of community that a gym or a studio brings and are returning in big numbers. For the coming months, we expect our sample in the UK to return to pre-pandemic levels and predict this will be even higher in the

US and Brazil. We believe the hybrid model will shape the immediate future of how people want to work out and it’s fantastic to see members coming back into facilities once again. We can be confident that the recovery is underway, but we must not be complacent. The fleet of foot operators and those who truly listen to what their members are asking for and watch closely how their members are behaving have every opportunity to emerge from the pandemic with strength and confidence. Cesar Carvalho is CEO of Gympass ©Cybertrek 2021 Issue 8 2021

77