The round was led by Singapore-based Temasek Holdings, who also happened to lead the startup’s Series C financing round as well. TechCrunch reported in June that ClassPass is expanding into Asia and Singapore is going to be the first market it enters. This move is a part of their “aggressive global expansion plans” that includes increasing the company’s presence in the UK and launching in three new countries in Asia.
“Having our Series C lead investor Temasek double down and lead our Series D is a major vote of confidence in our business and a reflection of the successful evolution to the credits model we made this year. Temasek has been a supportive shareholder, and their continued engagement will be especially helpful as we launch ClassPass throughout Southeast Asia,” said ClassPass‘s CEO, Fritz Lanman, in the company press release.
L Catterton’s Growth Fund also participated in the round. Michael Farello from L Catterton, a venture capital and private equity firm, is set to join the ClassPass board as part of the deal.
This was their seventh funding round and brought total funding to $255 million.
The company was founded in 2013 by Mary Biggins, Payal Kadakia, and Sanjiv Sanghavi.
ClassPass launched in 10 new US cities last fall and has plans to launch in over 20 new countries internationally and 10 new US cities by the end of 2019. The company also has plans to increase studio offerings in existing markets.
“We’ve had tremendous success creating the category and becoming the leading fitness subscription in the U.S., but our ambitions have always been more lofty than geographic constraints,” said Kadakia in the release. “This latest round of funding helps bring our vision to reality as we more firmly establish ourselves as a global brand.”
