WellnessLiving secures $66 million USD to scale operations management software for wellness centres

The Thornhill startup serves over 5,000 yoga studios, dance studios, and different wellness centres.
Thornhill-based enterprise operations software supplier WellnessLiving has secured a cumulative $66 million USD in new capital, together with a $46 million funding spherical and $20 million in development financing from CIBC Innovation Banking.
The $46 million got here from lead investor McCarthy Capital, in addition to contributions from Globalive Capital, INcapital Ventures, Halpern & Co, and different angel buyers.
Joining WellnessLiving’s board of administrators as a part of the financing embody Chase Meyer and Thomas Sudyka of McCarthy Capital; Brice Scheschuk, managing accomplice at Globalive Capital; and Dan Houghton, Buildertrend’s CEO.
Founded in 2013 by Len Fridman and Sasha Davids, Wellness Living’s member management software offers companies with an built-in funds platform and permits operators to schedule courses and appointments, handle employees, course of funds, and interact with their members.
The SaaS startup claims a world shopper base of over 5,000 yoga, health, well being, and wellness companies. This consists of international girls’s health franchise Curves, in addition to Yoga Ascension, Fred Astaire Dance Studios, Hi-Ignition Fit Lab, and the Atascocita School of Music.
In 2018, WellnessLiving obtained $2.4 million from BDC Capital’s Growth & Transition Capital. Crunchbase information studies that WellnessLiving additionally raised $1.6 million in 2013.
This newest spherical of financing, in accordance to WellnessLiving, will assist in accelerating the corporate’s worldwide enlargement efforts, ongoing product improvement, and constructing “strong options for franchises and multi-location enterprises.”
WellnessLiving at the moment operates in worldwide markets, with purchasers in North America, Europe, Australia and New Zealand.
Additionally, WellnessLiving mentioned its newest injection of capital will assist the corporate in including to its current partnerships and pursue “accretive acquisitions because the buyer base expands.”
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Fridman mentioned that this funding spherical was raised amid a “nice inflection level for WellnessLiving” because the CEO claims the corporate continues to add new clients at record-breaking ranges.
He added that WellnessLiving picked McCarthy Capital to lead the elevate after assembly with numerous institutional buyers as a result of the agency demonstrates “a deep understanding” of the area that WellnessLiving operates in, and has an “exemplary observe file of supporting excessive development corporations.”
WellnessLiving at the moment represents the one Canadian firm in McCarthy Capital’s portfolio. In latest weeks, McCarthy Capital has additionally invested in Omaha, Nebraska communications platform Workshop as a part of its $5.2 million seed spherical.
McCarthy Capital’s different portfolio corporations embody Docufree, Kinsta, App Academy, Rently, Smartlink, and Triage Staffing.
Featured picture from WellnessLiving’s web site.


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