Bulletin
Investor Alert

New York Markets Open in:

×

July 17, 2019, 9:01 a.m. EDT

ClassPass Expands Into Corporate Wellness

World's leading fitness aggregator launches global corporate wellness program; customers include Google, Gatorade, Morgan Stanley, Southwest Airlines and other leading employers

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

NEW YORK, July 17, Jul 17, 2019 (GLOBE NEWSWIRE via COMTEX) -- ClassPass, the world's leading fitness membership, today announced its expansion into the corporate wellness market. Inaugural customers include Google, Morgan Stanley, Facebook, Under Armour, Glossier, Etsy, Southwest Airlines and Gatorade, among other leading employers.

Employees at participating companies will have access to ClassPass' industry-leading global network of over 22,000 partner studios operating in over 2500 cities across 18 countries. ClassPass' premium partners include leading fitness studios, such as Barry's Bootcamp, Flywheel Sports, [solidcore], and CorePower Yoga; popular gyms like LA Fitness and Crunch; wellness experiences such as cryotherapy, massage and ECT; and a large library of on-demand audio and video workouts, which members can utilize from their homes, hotel rooms or any location of their choice.

"The ClassPass Corporate Program enables employers of all sizes to offer the world's most extensive, one-stop fitness and wellness program to their employees worldwide," said ClassPass CEO Fritz Lanman. "ClassPass is the best fitness program ever created for consumers. With this launch, it's now also the best fitness program ever created for employers and their employees."

"Health and wellbeing should be available to everyone. Leading employers realize that helping employees stay active helps them, too, by increasing productivity and improving employee attitudes towards work," said ClassPass founder and executive chairman Payal Kadakia. "We're thrilled to be partnering with so many leading employers who realize that being good to their employees isn't just the right thing to do; it's great business as well. I am eager to partner with many additional thoughtful organizations in helping their employees pursue healthy lifestyles."

The corporate wellness market, estimated to be worth $48 billion dollars, is highly fragmented and ripe for disruption. Most providers offer regional point solutions with limited offerings, forcing HR teams to create patchwork wellness and fitness programs for their employees. Through ClassPass' new offering, corporate HR teams can provide wellness benefits to their employees worldwide through one seamless offering. Employees will be able to tap into ClassPass' extensive global network in their home cities and anywhere they may travel.

In addition to being highly fragmented, most corporate wellness programs penalize employers for usage. In contrast, the ClassPass global corporate wellness program aligns employer, employee, and ClassPass incentives. ClassPass only makes money when employees utilize the service. Furthermore, the program enables employers to reward healthy behaviors (like going to a certain number of classes per month) with credits that employees can redeem for additional fitness or wellness experiences in the ClassPass network. Employers and HR teams can learn more about the ClassPass corporate wellness program by visiting https://corp.classpass.com/

About ClassPass

ClassPass offers its customers a one-stop-shop membership to the world's largest network of fitness and wellness services. With over 22,000 partners in 2500 cities worldwide, ClassPass connects members to a huge variety of experiences, including yoga, cycling, running, Pilates, HIIT, boxing, barre, strength training, dance, gyms, massages, spa services, cryotherapy, sports, videos and more. Recognized as one of Forbes's Next Billion Dollar Startups, ClassPass leverages proprietary technology to dynamically merchandise and surface over 5 million fitness and wellness classes for a seamless, affordable booking experience. https://classpass.com/

Contact:

Anita Chatterjee

Founder and CEO, A-Game PR

anita@a-gamepr.com

__GNW8366DE3E__IMG

(C) Copyright 2019 GlobeNewswire, Inc. All rights reserved.

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.