Vista Equity Partners, a leading investment firm, acquired Mindbody, the leading wellness technology platform for the wellness industry, in February 2019. Vista and Mindbody had initially entered into an agreement in December 2018, and the deal was completed two months later. Prior to the announcement of this partnership, Mindbody had been publicly traded on the Nasdaq stock market.
At the time of the acquisition, Rick Stollmeyer, co-founder and board member of Mindbody, expressed enthusiasm for the next stage that Mindbody would be entering with Vista. “Seventeen years ago, we set out on a journey to leverage technology to improve the health and wellness of the world. Today, that technology is helping people lead healthier, happier lives by connecting the world to fitness, beauty, and wellness. Our partnership with Vista marks a significant milestone on our journey and will allow us to accelerate our growth and serve our customers, consumers and partners better than ever before.”
The acquisition by Vista has allowed Mindbody to enter into a new phase of growth. In addition to opening an office in India to assist in research and development, the company has continued to make strategic investment in its core technology and product offerings throughout 2020. Since the acquisition, Mindbody has reached major milestones, including the acceleration of artificial intelligence and machine learning units that power its technology for providing accurate recommendations to customers. Mindbody has also implemented trend forecasting strategies to help wellness businesses anticipate how their industry may change due to changing customer needs.
About Vista Equity Partners
Vista Equity Partners (@Vista_Equity) is an investment firm that was founded in 2000 by entrepreneur Robert F. Smith, who has served as chairman and CEO since the company’s inception. The firm exclusively invests in enterprise software, data, and technology-enabled companies, and utilizes a variety of strategies to yield positive results for all stakeholders. Vista’s investment strategies include permanent capital, credit, and public and private equity.
In addition to facilitating technological innovation, Vista is also dedicated to developing long-term charitable partnerships that will better the communities in which they live and work. Many of Vista’s philanthropic endeavors aim to promote equity, advocate for women and minorities in the workforce, and provide educational opportunities for underserved students. Vista’s philanthropic work also provides funding for performing arts and music education, and pairs underrepresented students with internship opportunities rooted in fostering leadership.
For a look at how Vista and its companies drive transformative change across their industries, subscribe to the Vista Equity Partners YouTube Channel.