Fitness app expected to enter unicorn in 2020

Classpath, a New York-based fitness subscription app, has attracted an investment of $285 million and is stepping up to the unicorn company. Currently, the value of Classpath is estimated to be over US$536 million, and it is mentioned as a company that is expected to enter unicorns in 2020.

The company, which has been established for about 7 years, is a service that allows you to use classes in several fitness studios for a certain amount of money. Now, it has expanded its business so that companies can use the service as a package of employee benefits. Currently, ClassPass is affiliated with fitness studios in more than 2,500 cities in 18 countries, and over 100,000 classes can be booked through the app.

사업 초기에는 뉴욕에 위치한 피트니스 클럽을 99달러에 무제한으로 이용할 수 있는 서비스를 제공했다가 최근에는 특정 스튜디오의 요구사항에 맞춰 가격을 올렸다. 유저들은 한 달에 9달러에서 199달러의 클래스 크레딧을 구매하고 서비스를 이용하고 있다.

Classpath is evaluated to have played a big role in helping fitness users to revitalize the studio business as well as convenience. Famous studio chains and gyms are also having difficulty in operation because they are hardly available except for a certain time, but class plaques are solving this problem.

Classpath is launching smart tools and helping studios generate additional revenue. Studio operation tools It provides profit optimization tools such as Smart Spot and Smart Rate. First, SmartSpot helps studio managers manage inventory by monitoring and predicting how many positions can be filled with existing customers. It is a tool that synchronizes with the studio’s existing reservation system to match spots that can be reserved on the classpath in real time.

Smart Rate is a dynamic price measurement algorithm. Evaluates all classes in the studio to optimize prices and maximize the revenue the studio earns. The prediction is based on the user’s purchasing behavior and the studio’s class time, length, and instructor. This is similar to the dynamic pricing model used by hotels and airlines.

It is helping studios by setting prices in the direction of optimizing studio utilization and profitability and supporting class promotion. This solves the inventory problem, a chronic problem in the fitness industry.

Classpath is adding services for corporate customers as well as individual users. The plan is to create personalized classes for employees and provide a digital way to exercise through streaming.