Oakley Capital, the leading pan-European private equity investor, is pleased to announce that portfolio company 7NXT, which owns and operates fitness platform Gymondo, is acquiring 7Mind to create an all-encompassing consumer digital platform for physical and mental fitness and wellbeing with >650,000 paying subscribers.
Gymondo is the leading D2C online fitness platform in the DACH region, offering high-quality workout videos, customised fitness programmes and personalised nutrition plans to more than 500,000 paying subscribers.
Oakley invested in the business in 2020, partnering with founder and CEO Markan Karajica to accelerate Gymondo’s growth in the online fitness market.
Headquartered in Berlin, 7Mind is a leading player in the German digital healthcare sector with a focus on promoting digital mental wellbeing and offering mindfulness and meditation content to its c.150,000 subscribers.
The business caters to both individual users (B2C) as well as corporates (B2B), collaborating closely with health insurers. Founded in 2015, 7Mind has expanded quickly, generating double-digit revenue growth and strong margins between 2020-2022.
Adding 7Mind will enable 7NXT to expand its product offering to include mindfulness and meditation content, providing users an all-encompassing mental and physical health and wellbeing solution, while also diversifying its customer base. The combined business will create an expanded platform with the critical mass to participate in further M&A opportunities in a wellness market that is expanding in DACH as well as internationally.
This is a transformational deal for 7NXT and Gymondo, which will help to diversify our business, increasing our B2B customer base while adding valuable mindfulness content for our existing and new customers. It’s a win-win combination and we are pleased to welcome 7Mind on our journey to build an international market leader for physical and mental wellbeing.
Markan Karajica
Founder & CEO — Gymondo
Markan and his team have successfully leveraged the power of social media and influencers to build a powerful online fitness brand. Adding 7Mind will transform Gymondo into one of the leading one-stop-shops for fitness and wellbeing, catering to consumers and corporates alike. It also demonstrates Oakley’s ability to nurture digital-first businesses as well as support portfolio companies with strategic acquisitions.
Peter Dubens
Founder and Managing Partner — Oakley Capital
