MINDBODY nabs $50m in funding


computer code softwareBusiness management software startup MINDBODY has raised a $50m funding round from new and existing venture capital backers.

Bessemer Venture Partners, Institutional Venture Partners (IVP), Catalyst Investors, W Capital Partners and Montreux Equity Partners participated in the round, which will help the company further develop its web and mobile products and expand geographically.

MINDBODY’s software enables beauty, health and wellness businesses to manage all of their operations including staff management, payment processing and e-commerce within a single system.

Last year, the company launched two additional products: a consumer booking app called MINDBODY Connect, and workplace wellness software MINDBODY Exchange.

IVP principal Eric Liaw said, “MINDBODY is uniquely positioned to leverage its technology platform to enable the success of its business-owner customers while simultaneously making it easier for consumers to access beauty, health and wellness services.

“The company has only begun to scratch the surface of an enormous opportunity to benefit business owners and consumers worldwide.”

IVP led a $35m investment round for the company in November 2012.

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