ClassPass Secures $85 Million in Series D Funding

Fitness membership ClassPass closed an $85 million Series D financing round led by Temasek, an investment company headquartered in Singapore, with participation from the Growth Fund of L Catterton, the largest and most global consumer-focused private equity firm in the world. With this latest round of funding, ClassPass raised a total of $255 million and will be adding Michael Farello of L Catterton to its board.

In 2018, ClassPass has focused on growing its total addressable market geographically through new product offerings. According to the company, after successfully launching in 10 new domestic cities in the U.S. in 2017, the company has shifted its focus to launching in 20 new countries internationally and in another 10 cities domestically by the end of 2019, while doubling-down on the density of studio offerings in its existing markets. ClassPass plans to use the funding to accelerate those timelines and operations.