MINDBODY Strengths, Domain Expertise, and Key Differentiators
Local entrepreneurs worldwide use Mindbody’s integrated software and payments platform to run, market and grow their businesses. Consumers use Mindbody to more easily find, engage and transact with wellness businesses in their local communities. The sophisticated software offers business critical functions such as online booking, staff management, scheduling, marketing automation, and data analysis, among other features.
Adittionaly, the software enable the business owners to manage their staff with scheduling, Mindbody also allows to clock in staff, track hours, and calculate pay, tips, and commissions.
MINDBODY Recent Developments
In January 2021, Mindbody launched Mindbody Flex, its first membership offer that includes virtual access to more than 350 studios. The monthly subscription leverages Mindbody’s consumer marketplace featuring fitness studios, spas, salons, and integrative health businesses worldwide. Mindbody Flex members will have access to workouts and classes from studios including Exhale, Wundabar Pilates, Modo Yoga, Barre3 and Jabz Boxing, in addition to hundreds of local studios across the U.S.
In April 2020, Mindbody launched a virtual wellness platform for the tens of thousands of boutique fitness, beauty and wellness business operators, that use Mindbody’s integrated software solutions to run, market and grow their businesses. The product allows fitness, beauty and wellness businesses to upload and share pre-recorded videos to their customers via direct, secure links.
In 2018, Mindbody's all stocks were acquired by Vista Equity Partners for $1.9 billion and it went private after three years on the market.
MINDBODY released custom-branded web solution which provides the tech company's subscribers with the ability to fully brand their customers online experience, from web to social to mobile. Developed from the HealCode products acquired by the company in September, MINDBODY's new custom-branded web tools seamlessly integrate its powerful business management software with the subscriber's website and Facebook page, enabling embedded online booking and purchasing of classes and appointments.
MINDBODY Mergers and Acquisitions (M&A) Activities
In October 2021, Mindbody, announced it has entered into a definitive agreement to acquire ClassPass, a monthly subscription service providing access to the world’s most extensive network of fitness and wellness experiences.
In March 2020, Mindbody acquired ZeeZor, a real-time analytics and staff engagement platform for salon and spa businesses. ZeeZor first became an integration partner with Mindbody in 2018.
MINDBODY Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying MINDBODY applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of MINDBODY and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Minfbody Software, Booker Software customers.
Ownership: - Vista Equity Partners
Number of Employees: 2000
MINDBODY Key Enterprise and Cloud Applications
Minfbody Software, Booker Software
MINDBODY Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
MINDBODY Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
MINDBODY Enterprise Applications Revenues By Functional Markets, $M:
MINDBODY Enterprise Applications Revenues By Verticals, $M:
MINDBODY Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
MINDBODY Direct vs Indirect sales
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MINDBODY Customers - Breakdown by Geo, Size, Vertical and Product
No. of MINDBODY Customers: 58000
No. of MINDBODY Enterprise Applications Customers: 58000
No. of MINDBODY Cloud Customers: x
No. of MINDBODY Cloud Subscribers: x
The company services over 58,000 health and wellness businesses located in over 130 countries and territories.
Among MINDBODY's customers are: Pilates Studio City, Budo Ryu, Bluebird Salon and Shop, Jenny Wax, IRON, Dance Conservatory of Pasadena, Golden Bridge, Pink Iron, Jonathan&George Salon, Equilibrium Fitness, Orange Coast CrossFit, Savvi Skin&Body Studio, Pilates ProWorks, Therapeia Massage, Yoga Tree, John Brody Salon, The Pretty Pretty Collective, American Kickboxing Academy and others.
MINDBODY Market Opportunities, M&A and Geo Expansions
In October 2021, Mindbody has secured a strategic investment of $500 million from a group led by Sixth Street, a leading global investment firm. Prior Sixth Street investments include Airbnb, Datavant, Legends, MDLive, the San Antonio Spurs, Spotify and Sprinklr. This investment, together with the continued support of Mindbody's majority investor and partner, Vista Equity Partners, will help further accelerate the company's growth and build upon the product innovations and investments that have been made over the course of the pandemic.
In January 2020, Mindbody opened its new office in India. The office opening comes on the back of Mindbody’s acquisition of Simplicity First, a software consulting firm based in Pune that was completed a year before.
In May 2019, MINDBODY acquired Bowtie, an automated AI-driven virtual receptionist solution for appointment-based businesses. Bowtie automatically books clients, answers questions and enables live chat over SMS and web.
In March 2018, MINDBODY acquired Booker Software, a cloud-based business management platform for salons and spas, and the provider of Frederick, a fast-growing, automated marketing software for wellness businesses. The acquisition of Booker will add approximately 10,000 salons and spas to the MINDBODY marketplace, combining MINDBOD's leadership in boutique fitness studios and its vast consumer network with Booker's leadership in high-value salons and spas.
MINDBODY Risks and Challenges
FitMetrix, company owned by Mindbody, has suffered a data breach that could've impact 113.5 million users. Each record contained a user’s name, gender, email address, phone numbers, profile photos, their primary workout location, emergency contacts and more. FitMetrix was acquired by Mindbody in 2018.
MINDBODY Ecosystem, Partners, Resellers and SI
MINDBODY has deployed a direct sales approach driven by an outbound tele-sales teams. Additionally, MINDBODY has enabled a rich partner ecosystem of over 800 developers and partners who extend the value of its software and payments platform in powerful ways.
Among its affiliates are: Zumba Fitness, Yoga Baron, Spynergy, StyleNet, Avalon, TempoXSports and others.
MINDBODY Cloud Infrastructure Insights
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- MINDBODY Public Cloud and Infrastructure (IaaS)
- MINDBODY Platform (PaaS)
- MINDBODY Application Delivery
- MINDBODY Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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