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Startups Weekly: In a crowded field of unicorns, ClassPass becomes another unicorn

I hope you’ve all had a good week. Normally I’m behind the scenes (where I’m most comfortable), but I’ll be managing the Startups Weekly newsletter until I assign it to someone else. More on that in a few weeks. Want it in your inbox? Sign up here for this and other great newsletters we have to offer, including ones on space and transportation. For now, let’s get on with it, shall we?

A unicorn workout


Working out never did a body so good as it did for ClassPass this week. The popular startup that created a way to help people exercise more easily just became a unicorn with an influx of Series E cash. 
The latest funding, in the amount of $285 million, was led by L Catterton and Apax Digital, with participation from existing investor Temasek. It brings ClassPass’s total known raise to about $550 million.
We reported a couple of weeks ago that ClassPass, then at a $536.4 million valuation, was sniffing around for the round, which would promote it to the unicorn club.
“We are motivated by the impact we’ve had on members and partners, including 100 million hours of workouts that have already been booked,” said ClassPass Founder and Chairman Payal Kadakia in a statement about the raise. “This investment is a significant milestone that will further our mission to help people stay active and spend their time meaningfully.”
Startups Weekly: In a crowded field of unicorns, ClassPass becomes another unicorn
Photo: ClassPass
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