MINDBODY Completes $35 Million Investment Round

MINDBODY, provider of online business management software to the beauty, health, and wellness industry announced it has completed a $35 million investment round led by Institutional Venture Partners (IVP). The company’s existing investors, Catalyst Investors (Catalyst) and Bessemer Venture Partners (BVP) also participated in the latest investment. The capital raised will be used to accelerate MINDBODY’s international expansion and ongoing product development. MINDBODY is the global leader in its markets, currently serving more than 21,000 health, wellness, and beauty-based businesses in 80 countries worldwide. “After meeting with dozens of outstanding institutional investors, we selected IVP for their thorough knowledge of our space, understanding of our vision, cultural fit with our team, and exemplary track record supporting later-stage, high growth companies,” says Rick Stollmeyer, co-founder and CEO of MINDBODY. “Norm Fogelsong and the IVP team are a valuable addition to our Board. We are particularly pleased that BVP and Catalyst are also participating in the round, indicating their continued high confidence in our growth plans.”