Title

Report: ClassPass is hunting for unicorn status in a new funding round

The nearly seven-year-old, New York-based fitness subscription app ClassPass is reportedly trying to raise $285 million in a new funding round that would push its valuation to more than $1 billion.

The company will issue 22.7 million Series E shares as part of the funding round, according to a securities filing obtained by Reuters from analytics firm Lagniappe Labs.

The company — which began life as a way for people to book classes across different fitness studios and has more recently been pushing a corporate business that sees it adding ClassPass to employee benefit packages — is right now valued at $536.4 million, according to Reuters, which cites the Prime Unicorn Index.

Full Article