MINDBODY has successfully raised $50 million in equity financing, made possible by a syndicate of both current and new investors including Bessemer Venture Partners, Institutional Venture Partners, Catalyst Investors, W Capital Partners and Montreux Equity Partners.
The capital gained with this financing will help accelerate a global expansion as well as web and mobile product development, to facilitate the integration of wellness services into mainstream society. MINDBODY’s SaaS management solution allows businesses to manage all aspects of their operations within a single system, from web scheduling and staff management, to point of sale and payment processing, to automated marketing and ecommerce. The company’s platform is accessible at all times to business owners and staff, as well as their clients, via web and mobile apps.
In 2013, the company launched two additional products: a consumer booking app called MINDBODY Connect, and a workplace wellness solution called MINDBODY Exchange, which offers employers a customizable and affordable platform to connect employees with health and wellness providers.
“With our November 2013 release of the MINDBODY Connect mobile app, our massive network is now seamlessly linked to tens of millions of consumers worldwide, enabling us to directly engage with them and drive demand to our clients,” said Rick Stollmeyer, the CEO and co-founder of MINDBODY. “It’s just one of the many ways we make it possible for beauty, health and wellness professionals to build and grow their businesses.”
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Rachel Zabonick-Chonko is the editor-in-chief of Club Solutions Magazine. She can be reached at rachel@peakemedia.com.
