INC 5000 Recognizes MINDBODY for Fourth Consecutive Year
Press release: SAN LUIS OBISPO – MINDBODY, the largest online software provider in the health and wellness industry, has once again been recognized by Inc. Magazine as one of the fastest growing companies in the U.S. This is MINDBODY’s fourth consecutive year on the INC 500/5000 List, ranking 215 among software companies, and 1,184 overall. MINDBODY has experienced 250% revenue growth over the last three years.
“We are honored to be recognized once again, and humbled by our accelerating growth, which is related directly to the success of our small business owner subscribers,” said Rick Stollmeyer, MINDBODY’s co-founder and CEO. “Our mission is ‘Leveraging Technology to Improve the Health and Wellness of the World.’ We do this by providing our business subscribers with cutting edge tools that help them grow their businesses and better serve their customers in this tough economy.”
MINDBODY’s growth is expected to continue well into the future thanks to increasing market adoption of its SaaS solutions, as well as recent $21 million investments from Bessemer Venture Partners and Catalyst Investors. This new funding will further accelerate the online software provider’s international expansion, taking its share of overall sales from 12% to 20% by 2014.
“To reach a broader international audience, we expect to increase our ranks by nearly 700 new employees in the next two years,” Stollmeyer revealed. “It’s a dramatic rate of growth for our company that will be supported by an expansion of services which is already underway.”
Growing at a rate of over 600 new subscribers per month, MINDBODY’s expansion is due in large part to its software’s ease of use and implementation. This fully online business management system requires no hardware aside from a computer, no installation, and no onsite IT support. MINDBODY’s team of tech support specialists and customer service representatives are on hand to train and assist subscribers at no extra cost throughout the lifetime of their subscription.
MINDBODY’s mobile applications help subscribers manage their businesses and enable consumers to find, book and pay for wellness-oriented classes and appointments from any mobile device. In addition, MINDBODY’s integrated partnerships provide expanded services to subscribers such as automated email marketing through Constant Contact, website and marketing tools from HealCode and Perkville, and geographical market analysis from aWhere.
MINDBODY was founded in 2001 as the first desktop management software designed for the wellness industry. It served 75 subscribers in two states. In 2005, MINDBODY moved its management systemonline, pioneering the industry’s first fully web-based business management system. Today, it serves over 14,000 businesses in over 75 countries.
MINDBODY delivers innovative business management software to the wellness industry, including fitness, yoga, Pilates, salons, spas and martial arts businesses. In 2010, MINDBODY was included in Deloitte’s “Fast 500,” named among the most innovative 100 technology companies in North America by Red Herring 100, identified as one of The 50 Best Places to Work by Outside Magazine, and most recently recognized as the sixth fastest growing company in its local region by Pacific Coast Business Times.