California health software firm picks up $50M in funding
Mindbody, a company that provides health and wellness software for health clubs, announced on Thursday that it has secured $50 million in funding, according to Reuters.
The company will use the new capital to build and enhance its web and mobile offerings. Mindbody provides software that yoga studios and health clubs can use in scheduling their fitness sessions and classes, the report explained.
The funding round was led by W Capital Partners. Montreux Equity Partners, a new investor to the health software company, also participated in the round. Previous investors including Institutional Venture Partners, Catalyst Investors, and Bessemer Venture Partners also contributed as well, the report detailed.
According to a company spokeswoman, W Capital Partners will also purchase shares from the first investors in Mindbody. The share purchase, however, is not part of the $50-million funding deal, the report stated.
Founded in 2001, Mindbody is currently headquarterd in San Luis Obispo, California, Reuters reported.