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Mindbody Inc.

Companies

Mindbody Inc.

Mindbody Inc.

Healthcare

Description

Mindbody is a San Luis Obispo, California-based software-as-a-service company that provides cloud-based online scheduling and other business management software for the wellness services industry. Founded in 2001, the company services over 58,000 health and wellness businesses with about 35 million consumers located in over 130 countries and territories. The company's clients include Bikram Yoga and New York Health & Racquet Club. ClassPass is one of Mindbody's technology partners using Mindbody's API to manage inventory on the ClassPass app.

History

Mindbody was originally known as HardBody Software. The latter was co-founded by Blake Beltram, Rick Stollmeyer, and Robert Murphy in 2000. The company was later incorporated as Mindbody in 2001. In 2005, Mindbody Online was launched and it later received its first private funding round of US$1 million in November 2005 from Tech Coast Angels and Pasadena Angels. The company's first round of institutional investment came up in April 2009 to the sum of US$5.6 million from Catalyst Investors. The company received more investment in August 2010 to the sum of US$14 million from Bessemer Venture Partners and Catalyst Investors with an initial portion of US$11 million while the remaining US$3 million was to be exercised at any time within 36 months. It received another round of funding in November 2012 of US$35 million from Bessemer Venture Partners, Institutional Venture Partners, and Catalyst Investors. In February 2014, Mindbody received its final round of private funding in the amount of US$50 million from Bessemer Venture Partners, Institutional Venture Partners, Catalyst Investors, W Capital Partners and Montreux Equity Partners.

In February 2015, Mindbody acquired the company, Fitness Mobile Apps, for an undisclosed amount. At the time of the acquisition the company was creating customizable applications for iOS and Android platforms.

Mindbody went public in June 2015 raising US$100 million in capital. In October 2015, Mindbody integrated its Mindbody Connect app with Fitbit, making it possible for app users to connect their Fitbit activity trackers to view personal activity data achieved during workouts scheduled at Mindbody businesses.

In September 2016, Mindbody acquired HealCode, a technology company that designed web tools for the fitness and wellness industry. In October 2016, Mindbody integrated with Under Armour’s MyFitnessPal app to make it possible for app users to find and book fitness classes throughout the United States directly through MyFitnessPal.

On December 24, 2018, Mindbody announced that it is going to be acquired by Vista Equity Partners for US$1.9 billion. On February 18, 2019 Vista Equity Partners completed its acquisition of the company.

Awards and recognition

  • 2016 Webby Award and Webby People's Voice Award in the Mobile App: Fitness and Recreation category.
  • Mindbody Connect—Codie Award for Best Consumer Application 2015.
  • Mindbody Express—Silicon Valley Business Awards, App: Best Finance & Management App 2015.
  • Named among the top 50 best places to work by Glassdoor in 2016, 2015 and 2014.
  • Named among Inc. magazine’s fastest growing companies in the US from 2008–2015, and making the Inc. 500 list in 2009.
  • Ranked #8 on the list of Top 10 Most Innovative Companies in Beauty by Fast Company.

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