- McCarthy Capital has made a $46 million minority investment
- CIBC Innovation Banking has provided $20 million in growth financing
- WellnessLiving is a provider of a cloud-based business management software and integrated payments platform for the fitness and wellness industry
WellnessLiving this week announced it has entered into a partnership with McCarthy Capital and CIBC Innovation Banking.
The company secured a $46 million minority investment from McCarthy, with CIBC Innovation Banking, the technology lending arm of Canadian bank CIBC, providing $20 million in growth financing.
The investments have been made with a view to accelerating the growth of Thornhill, Ontario-based WellnessLiving, a provider of a cloud-based business management software and integrated payments platform for the fitness and wellness industry. This will include global expansion and ongoing product development.
WellnessLiving presently serves an international customer base across North America, Europe, Australia and New Zealand.
“We are thrilled to partner with the management team of WellnessLiving,” said Chase Meyer, Partner at McCarthy Capital. “The Company’s passion for customer service is impressive. We believe their customer-centric approach is critical for long-term value creation – both for WellnessLiving and their customers. We look forward to partnering with WellnessLiving as they continue to invest in their people and product.”
“This partnership comes at a great inflection point for WellnessLiving as we continue to add new customers at record breaking levels to our platform and help each one of them reach their performance potential and realize their entrepreneurial dreams,” said Len Fridman, co-founder and CEO of WellnessLiving. “McCarthy Capital has a proven history of scaling software businesses, and we are excited to further accelerate WellnessLiving’s growth trajectory with their support.”
McCarthy, headquartered in Omaha, Nebraska, manages more than $3 billion of capital and was founded in 1986. It makes majority and minority equity investments of between $20 million to $75 million.