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Wellhub

Unicorn · $2.4B

Founded 2012 · 2,535 employees · 15 known investors

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Laura Buhlerunlockedknows Cesar Carvalho · together at McKinsey & Company (overlapped)
×4knows the team · via McKinsey & Company
×6knows the team · via Harvard Business School
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Wellhub operates a corporate wellness platform that connects employees to fitness, mindfulness, nutrition, and sleep options through employer-provided plans. It serves companies looking to offer holistic wellbeing programs to their workforce across multiple countries.

Also known as Gympass

Founders & leadership

Wellhub was founded in 2012 by Cesar Carvalho.

CCCesar Carvalho
Cesar CarvalhoinFounder · Chief Executive OfficerCesar Carvalho is Co-Founder and CEO of Wellhub, a corporate wellness platform offering employees fitness, mindfulness, therapy, nutrition, and sleep benefits. He previously held roles at CVC, McKinsey & Company, and AC Nielsen, and holds a Bachelor's degree in Business from Universidade de São Paulo.

Investors · 15

Also in the syndicate · 5

EQT GrowthleadGeneral AtlanticKaszekMoore Strategic VenturesSoftBank

Valuation · disclosed

Disclosed events
$2.4Bvaluation at Series FAug 2023
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

Company profile

researched Aug 2026

Wellhub, which also operates under the earlier Gympass brand name, is a corporate wellbeing platform sold to employers as an employee benefit. Through a single subscription, employees gain access to in-person gyms and studios, fitness classes, virtual personal trainers and digital apps covering fitness, mindfulness, nutrition, sleep, online therapy and financial wellbeing. Companies pay an annual contract priced on team size and investment level, and can launch a program in under 30 days; employees then select and pay for their own monthly plan through the Wellhub mobile app.

In the United States the company markets ten named employee tiers, from a free Digital plan bundling ten premium wellbeing apps to a Diamond plan at $344.99 per month with the broadest in-person access; intermediate tiers include Starter ($11.99), Starter+ ($26.99), Basic ($37.99), Bronze ($64.99), Silver ($109.99), Titanium ($159.99), Gold ($214.99) and Platinum ($289.99). Plans carry no enrollment or cancellation fees and can be paused, switched or cancelled, with monthly and discounted annual billing options and an optional add-on that extends coverage to family members where the employer enables it. Network partners named on the site include Anytime Fitness, LA Fitness, 24 Hour Fitness, Crunch Fitness, Life Time, Orangetheory, F45, Barry's, SoulCycle, Solidcore, Club Pilates, CorePower Yoga, YMCA, Apple Fitness+, Headspace, Strava, Lifesum, MyFitnessPal, Sleep Cycle and the company's own Trainiac virtual training service.

Alongside the subscription business, Wellhub publishes employer-facing research and engagement resources, including the annual Return on Wellbeing Study (the 2026 edition launched in May 2026) and a corporate newsletter, blog and help center. For employer clients it offers program administration tools, usage and ROI tracking, enrollment campaigns, wellbeing challenges, payroll integration, webinars and events, and a dedicated client success team.

Founding story

The company was founded in 2012 and launched by Cesar Carvalho while he was attending Harvard Business School; Carvalho, originally from Brazil and later based in New York, previously held leadership roles at McKinsey & Company and AC Nielsen. He is described as CEO and Co-Founder.

Business model

Wellhub uses a shared-payment B2B2C model: employer organizations sign annual contracts priced on headcount and chosen investment level, while employees pay a monthly (or discounted annual) subscription for the plan tier they select, which determines how many gyms, studios and premium apps they can access. Employee plans are positioned as costing up to about 50% less than buying memberships directly from partners.

Recurring revenue from annual corporate contracts based on team size plus monthly employee subscription fees across ten tiers ranging from $0.00 to $344.99 per month in the US market.

Traction

Company-reported figures include growth of the corporate customer base by 80% to more than 15,000 clients by July 2023, more than two million employee subscribers, 300 million cumulative member check-ins, a record 4 million monthly check-ins in May of the year the $220M round was announced, and a network that expanded from roughly 3,000 corporate clients and 60 wellness apps to over 50,000 gyms, studios and partners. Marketing pages cite 35% lower annual employee healthcare costs, up to 43% improvement in retention or 30% lower turnover, a 178% increase in employees becoming physically active, and 61% of US members (72% in the Mexican market page) having had no prior gym membership.

Latest developments

The company markets ten US employee plan tiers with pricing from $0.00 to $344.99 per month and reports a network of over 110,000 gyms and studios, 3,800 virtual personal trainers and 90+ premium apps. Its Return on Wellbeing 2026 report launched in May 2026, accompanied by a June 10 webinar on talent retention.

Full profile — market position, technology, go-to-market, geography, history

Market position

Presented as the leading corporate wellness platform, described in company materials as the world's largest and most complete corporate wellbeing platform; at the time of its 2023 Series F it reported more than 15,000 corporate customers, over two million employee subscribers and a network of more than 50,000 partners across 11 markets.

Breadth of a single network spanning 110,000+ in-person gyms and studios, 3,800 virtual personal trainers, 14,000+ classes and 90+ premium wellbeing apps; flexible tiered pricing with no enrollment or cancellation fees; coverage of non-physical categories such as mental health, nutrition, sleep, therapy and financial wellbeing; portability of check-ins across 12 countries when enabled by the employer; and company-reported engagement outcomes.

Technology

A mobile app and web platform where employees check eligibility, subscribe, search gyms and studios by location or activity, book classes, access on-demand and live-stream content and virtual personal training, and use partner apps' premium versions. Employers use an online platform to manage enrollment, monitor usage, run engagement campaigns and track ROI, with payroll integration available.

Go-to-market

Sold to HR and benefits teams through a quote-request and direct sales motion, supported by employee-side self-enrollment in the app, an employee referral program that routes leads to HR departments, and content marketing including the Return on Wellbeing Study, webinars, blog and newsletter. Supply is built through a partner program for gyms, studios, apps and personal trainers, plus API/platform integrations.

Employers of varying sizes that offer wellbeing benefits, and their employees; named corporate customers include Aflac, Citizens Financial Group, Dignity Health, Zendesk, Santander, Accenture, Unilever, KPMG and McDonald's.

Geography

Localized sites and operations across 18 listed markets: Argentina, Belgium, Brazil, Canada, Chile, Germany, Spain, France, Ireland, Italy, Luxembourg, Mexico, Netherlands, Portugal, Romania, the United Kingdom and the United States. Company statements describe presence across North America, Latin America and Europe, 11 markets as of 2023, and international check-ins available across 12 countries. The CEO is based in New York, and the Series F was announced from New York.

History

Founded in 2012 as a corporate wellness provider under the Gympass brand, the company expanded from physical activity into digital fitness, mental health, nutrition, therapy, sleep and financial wellbeing. During the COVID-19 pandemic it added more than 1,000 new corporate clients and, over a two-year span, more than 60 wellness apps, thousands of personal trainers and individual therapy solutions, while signing US partners including Barry's, SoulCycle, F45, Strava, Calm, Lifesum and Fabulous. A $220 million round with SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group funded US growth, followed by an $85 million Series F in August 2023 at a $2.4 billion valuation led by EQT Growth. The business now operates under the Wellhub name, with the Gympass name retained in site titles and legacy contact addresses.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Boost in employees becoming physically active (company-reported)Jan 2026178%
Classes and appsJan 202614,000 classes and apps
Corporate clientsJan 20213,000 clients
Corporate customersJul 202315,000 companies
Countries with international check-insJan 202612
Cumulative member check-insJul 2023300,000,000 check-ins
Employee subscribersJul 20232,000,000 subscribers
Employees with no prior gym membershipJan 202661%
HeadcountAug 20262,535
Improvement in employee retention (company-reported)Jan 202643%
In-person gyms and studios in networkJan 2026110,000 locations
Markets servedAug 202311 markets
Network partnersAug 202350,000 partners
Premium wellness appsJan 202690 apps
Record monthly check-insMay 20214,000,000 check-ins per month

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

3 people who came through Wellhub went on to found or lead other companies.

Timeline · 8

launches, deals, and filings
May 2026
Return on Wellbeing 2026 report launched

Wellhub launched its Return on Wellbeing 2026 report, with an accompanying June 10 webinar on employee wellbeing and talent retention.

source ↗

Jan 2024
CEO named Best Large Company CEO by Comparably

Cesar Carvalho was recognized as Best Large Company CEO by Comparably in 2023 and 2024, and has also received Ernst & Young Entrepreneur of the Year, New York and Goldman Sachs 100 Most Intriguing Entrepreneurs recognition.

source ↗

Aug 2023
Wellhub raises $85M Series F at $2.4B valuation

Wellhub announced an $85 million Series F led by EQT Growth with participation from Neuberger Berman on behalf of its client funds, at a $2.4 billion valuation. General Atlantic and Moore Strategic Ventures also purchased existing shares from earlier investors and current and former employees.

$85M source ↗

Jan 2023
Expansion into non-physical wellness categories

The company expanded into mental health, nutrition and financial wellness categories beyond physical activity.

source ↗

Jan 2023
New wellness partnerships announced

Wellhub announced partnerships with 24 Hour Fitness, Barry's Bootcamp, CorePower Yoga, Headspace, Lifetime, MyFitnessPal, Orangetheory Fitness, Sleep Cycle and Thrive Global.

source ↗

Jan 2023
First Return on Wellbeing Study published

Wellhub released its first Return on Wellbeing Study, a survey of more than 2,000 HR leaders that found 78% of wellness programs save companies money on healthcare expenses.

source ↗

Jan 2021
Wellhub raises $220 million to fund US growth and new wellbeing categories

Co-founder and CEO Cesar Carvalho announced a $220 million round including SoftBank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group, to be used for US expansion, product experience and expansion into digital fitness, mental health and nutrition.

$220M source ↗

Jan 2021
New US fitness and wellbeing partner deals

Wellhub signed deals with US partners including Barry's, SoulCycle, F45 and Strava for fitness, and Calm, Lifesum and Fabulous for holistic wellbeing.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Wellhub do?
Wellhub, formerly Gympass, is a corporate wellbeing subscription platform giving employees access to gyms, studios, trainers and wellness apps.
Who founded Wellhub?
Wellhub was founded by Cesar Carvalho in 2012.
Who are Wellhub's investors?
Wellhub's investors include MONASHEES, NewView Capital, Provence Partners, Softbank Latin America Fund, SoftBank Vision Fund, Valor Capital Group, Vox Capital, Atomico and 2 more.