San Luis Obispo-based Mindbody Software
has confirmed that it has raised $14M in a new funding round for the firm's health and wellness business management software. According to the firm, the new round of funding came from Bessemer Venture Partners and Catalyst Investors, and is made up of an immediate $11M initial tranche, plus an additional $3M option that may be exercised anytime within the next 36 months. Mindbody develops scheduling and business management, software-as-a-service for the wellness, health, spa, and related businesses. The firm is headed by Rick Stollmeyer, and has also received backing from the Pasadena Angels, Tech Coast Angels, and Frontera Capital. The firm said it reached nearly $10M in revenues in 2009, and has over 9,300 customers in 62 countries. The funding had originally been uncovered by socalTECH this morning, via a regulatory filing.
posted on Friday, August 20, 2010 (Link to more information)
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