- HQ
- Munich, Germany
- Company size
- 501 – 1,000
- Funding raised
- 580M+, unicorn since 2024
- Lead investors
- L Catterton, Meritech Capital, Affinity Partners, NGP Capital, Mayfair Equity Partners, Highland Europe
- Team location
- Europe
- Cooperation time
- since 2019
- Product
- Smart gym equipment, AI-powered training and the Wellpass corporate fitness network
- Notable clients
- Fitness First, EoS Fitness, 135+ YMCA partners, Active Wellness
EGYM is a Munich-based fitness technology company on a mission to shift healthcare from repair to prevention. Founded in 2010, it combines smart strength equipment, EGYM Genius AI and the Wellpass corporate fitness network into an operating system for gyms and employers – 33,000+ fitness locations and 7.5 million monthly active users worldwide. EGYM reached unicorn status in 2024, and in 2026 merged with Playlist, the parent company of Mindbody and ClassPass, in a deal valuing the combined business at $7.5 billion.
Issue
EGYM had an established engineering team in Ukraine. What it didn’t have was a way to engage that team directly: no legal entity, no local HR, no payroll. Part of the team worked through a staffing agency, and EGYM wanted all of it on one compliant setup without building a local back office from scratch.
The people were the point. These engineers already knew the product – they had been building it for years. Replacing them wasn’t an option, which meant the transfer had to work the first time, with no gap in work and no gap in pay.
The compliance stakes sat underneath that. Contractor engagements in Poland and Ukraine carry real misclassification exposure, and IP written loosely is IP you don’t fully own. For a company heading toward a funding round and eventually an exit, neither is something you discover during diligence.
Later, when EGYM needed to add C++ engineers, the hiring had to reach the same bar – and land people into a team and a legal setup that already existed.
Solution
Alcor became the infrastructure EGYM needed. Engineers moved from the staffing agency onto Alcor’s Contractor of Record setup, so EGYM never had to build a local entity, HR function or payroll – and the team has since grown to 51 people in R&D, mainly in Ukraine with specialists in Poland, Slovakia, Portugal, and Romania.
Complexity became one approval. Each business line runs as a separate payroll stream in AlcorOS, cleared in one place instead of chased through email. Benefits are grossed up for local taxes so specialists receive the full amount, and Alcor Legal clears every new country before EGYM approves it.
Every contract runs through Alcor’s entity, assigns IP to EGYM from the moment of creation, and is built to hold up against misclassification exposure in Poland and Ukraine – the two jurisdictions where contractor engagement is hardest to get right. Legal, payroll and benefits sit with one accountable partner.
When EGYM needed C++ engineers for its Qt and UI work, Alcor ran the searches in parallel and closed them in about 2.5 weeks each, with every offer accepted. The hires went to Ukraine, where the rest of the team sits.
Alcor also goes where standard services won’t. When a specialist asked to be paid partly in crypto, Alcor built a compliant structure and made the payouts happen.
RESULTS:
Run Your R&D Team Across Europe Without a Local Entity
No patchwork of local providers. Top-10% devs. Full ownership of your team and IP.
Alcor Helped Build the Foundation for Everything That Followed
EGYM starts running its R&D team through Alcor’s Contractor of Record setup
EGYM raises a $225M Series F led by Affinity Partners, the firm’s first European investment
EGYM launches EGYM Genius AI and becomes a unicorn after a ~$200M Series G at a $1.2B+ valuation
EGYM opens its North American headquarters in Denver as EoS Fitness becomes the first large US gym chain to roll out EGYM Genius AI
EGYM completes its merger with Playlist, parent of Mindbody and ClassPass, at a $7.5B combined valuation
Use our calculator to estimate your team budget before any conversation starts
Clients Love Us. Teams Do Too.
“The Alcor team has always been supportive and approachable whenever assistance was needed. Rather than feeling like an external resource, engineers working through Alcor are able to integrate closely with the client’s teams. This creates a more collaborative environment and allows engineers to have a greater impact.”
“My overall experience has been outstanding. Alcor’s model offered the right balance — strong operational support combined with genuine ownership and long-term collaboration. In this model, I am a core member of the team. Rather than rotating between projects, I can invest meaningfully in improving the product and establishing processes that deliver lasting value.”
“Whenever I’ve had tricky bank requests or needed extra documentation, Alcor has resolved everything rapidly. I also love their support with business trips and expense tracking—it’s incredibly convenient. Their team is always available via messenger and ready to help. Highly recommended for anyone who wants a hassle-free professional life!”
“Alcor has been a reliable partner throughout, especially in complex situations. Issues are resolved quickly — often within minutes or hours. Their ability to adapt and support us in complex situations has made a real difference for our team.”
