Supermonkey

About Supermonkey

Supermonkey operates within China's fitness industry, targeting urban white-collar workers with a disruptive business model. The company was founded in 2014 by Liu Shuting, also known as Tiao Tiao, a former architect and marathon enthusiast. Frustrated with the traditional gym model of annual fees, she envisioned a more flexible approach. The initial concept, launched in Shenzhen, was a 24/7 self-service gym housed in a shipping container, accessible on a pay-per-use basis.

The company's core revenue stream is generated from its pay-as-you-go group classes and personal training sessions, booked via a mobile app and WeChat's booking system. This model eliminates the need for long-term membership commitments and sales staff, focusing instead on user experience. Upon booking a class, which costs around $15, users receive a one-time password to access the facility. The studios are strategically located in prime urban areas, often on the ground floor of prominent office buildings, to provide convenience for its target clientele. Supermonkey's facilities are staffless, with the exception of fitness instructors, and offer a variety of themed workout spaces for activities like cycling and boxing.

Significant milestones include expanding to major cities like Beijing and Shanghai, and securing multiple rounds of funding. The company has raised a total of $76.2 million over seven funding rounds, with a notable Series D of $53.5 million in 2019 and a Series E round in May 2021 that brought its valuation to nearly $1 billion. These funds have been directed towards opening new locations to meet high consumer demand, which has at times resulted in waitlists twice the size of the customer base. In addition to its physical locations, Supermonkey has developed its own digital ecosystem, including an app for booking and a system for managing operations. The company also established the "Supermonkey Academy" to train and develop its coaches, whom it considers a core asset.