ClassPass, the subscription service that for fitness classes and gyms, has today announced the close of a $70 million Series C funding round led by Temasek. Existing investors such as Acequia Capital, CRV, General Catalyst, GV, M13 and Thrive also participated in the round.
According to the press release, ClassPass has doubled its member base in the past year and has now grown to 35 million reservations to date.
ClassPass works by re-tooling the fitness business model. Users pay ClassPass for a monthly membership to the service, which gets them access to hundreds of boutique fitness classes and gym time. Plus, it gives users the added convenience of searching for and booking classes through a mobile app.
While the service has grown quickly, that’s not…