Brazil-based unicorn Gympass announced on Thursday two new executives for C-level roles, as the company “enters its next phase of growth”. Carolee Gearhart, former VP of Global SMB Sales and Global Channel Chief of Google, will be Gympass’ new Chief Revenue Officer. Ryan Bonnici, a former leader at Hubspot with stints at G2 and Salesforce will have the role of Chief Marketing Officer at Gympass.
The changes in the C-suite bringing in US executives could mean the late-stage startup is getting ready to debut in the US capital markets. Gearhart brings domestic and global sales experience and will be responsible for driving Gympass’ client growth, particularly as it looks to expand its roster of small and medium-sized businesses clients and its foothold in the U.S.
As CMO at Gympass, Bonnici will be responsible for marketing, brand, communications, and customer experience as Gympass looks to expand markets and product offerings globally.
The Brazilian startup is a B2B platform that offers employees access to wellness providers, such as SoulCycle, Calm, and LA Fitness, through their employer. It recently acquired Trainiac, Andjoy, and 7Card. In June last year, Gympass closed a $220 million Series E funding, doubling its valuation to $2.2 billion.
Among its clients, Gympass has big names such as McDonald’s, RedBull, and Activision. It connects these corporations’ employees to over 50,000 brick-and-mortar fitness locations globally, grants access to personal trainers, on-demand classes, meditation, and therapy sessions. The company says this year it will rapidly grow its user base as it continues to attract the likes of Fortune 500 companies and expand its total addressable market by launching a self-service offering to businesses with as few as 10 employees.
“I believe in mission-driven companies who are working to change the world for the better and Gympass is doing just that,” said Gearhart, in a press statement. “Through innovation, Gympass can help defeat inactivity, and I’m excited to play my part in this journey. SMBs employ nearly half the workforce in the US and I am thrilled to make well being accessible to more people domestically and around the world.”
Bonnici adds that his focus will be both growing Gympass’ brand and guiding contributors on Gympass’ marketing teams across the world. “Gympass wants to make wellbeing universal and I couldn’t be more excited to partner with the team as we take the business to new heights.”
For Cesar Carvalho, co-founder and CEO of Gympass, the business “is at an exciting inflection point”.
“We’re beefing up the team with high-tech executives as we prepare to double our overall size. Both of our new team members have an impressive track record of working with small to mid-sized businesses and bring invaluable go-to-market experience. Carolee and Ryan will each play an integral role as we double-down on domestic expansion within the US and continue to dominate within the wellness space.”