NGP Capital leads $20m series-D for eGym

The funding round also included participation from existing backers Highland Europe and HPE Growth Capital.

According to a statement by NGP, the latest round of financing is specifically aimed at accelerating the fitness technology group's global expansion plans, with a focus on its key market in the US. The new cash will also be used to bolster the company's "corporate wellness" offering. 

The new backer – which has offices in the US (Palo Alto), Europe (Helsinki and Geneva) and Asia (Beijing) – typically invests initial tickets of $8-12m, with capacity for follow-on investments.  

Previous funding
eGym first received venture backing in 2014, when Highland Capital, Bayern Kapital and High-Tech Gründerfonds (HTGF) took part in a $15m round.

Two years later, HPE Growth Capital, Highland Capital, Bayern Kapital and HTGF took part in a $45m round for the company.

Company
Founded in 2012 and based in Munich, eGym develops technology used in fitness facilities, from the training machines themselves to the eGym trainer and fitness apps that connect them. The combination of software and machinery provides gym operators with information about their members and enables customers to have personalised training plans.

People
NGP Capital – Walter Masalin (partner).
eGym – Philipp Roesch-Schlanderer (co-founder, CEO).

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• Topics
• Expansion
• DACH
• Consumer
• DACH
• Highland Capital Partners
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