WellnessLiving, a Toronto, Ontario, Canada-based provider of a cloud-based business management software and integrated payments platform for fitness and wellness operators, raised $66m in financing.
McCarthy Capital led a $46 million minority investment while CIBC Innovation Banking provided $20 million in growth financing, bringing the total raised this round to US$66 million.
Founded in 2013, WellnessLiving develops multi-tenant business management software to allow business owners to schedule classes, appointments and events, manage staff, process payments and increase member engagement. The company serves an international market with customers in North America, Europe, Australia and New Zealand.
The partnership will accelerate WellnessLiving’s international expansion efforts, ongoing product development and the buildout of robust features for franchises and multi-location enterprises. In addition, the company will add to existing partnerships and pursue accretive acquisitions as the customer base expands.
Led by Len Fridman, co-founder and CEO, WellnessLiving is a member management software solution which provides a single-instance, multi-tenant business management software and integrated payments platform for fitness and wellness operators (e.g., yoga, pilates, fitness, martial arts, spa and salon). The software allows business owners to schedule classes / appointments, manage staff, process payments and engage with their members.