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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Mindbody buys ClassPass in fitness rollup

reported Wednesday that it is buying gym-hopping app for an undisclosed sum in an all-stock acquisition. As part of the deal, a group led by private equity firm is also investing $500 million into ClassPass.

New York-based ClassPass has previously raised just under $550 million from private investors including , and and was valued at $1 billion before the Mindbody deal, according to Crunchbase data.

San Luis Obispo, California-based Mindbody is by . It sells subscription appointment booking and customer management software to fitness studios, spas and other businesses in the wellness industry.

鈥淭he ClassPass network includes many businesses already working with Mindbody. By combining our respective operations, we will create more seamless integrations and unlock new revenue opportunities for business owners using both services, while continuing to support all fitness, salon and spa businesses who choose to work with Mindbody or ClassPass,鈥� ClassPass CEO said in an announcement of the deal.

鈥� Marlize van Romburgh

TripActions lands $275M

, a provider of corporate travel booking tools, raised $275 million in a Series F funding round led by聽 that pushes its valuation up to $7.25 billion.

The Palo Alto, California-headquartered company operates a travel and spend management platform that it says is used by more than 5,000 companies globally.

The latest round brings total funding to date for the 7-year-old company to nearly $1.3 billion. Of that, $780 million was raised during the pandemic, the company said.

— Joanna Glasner

Dexterity raises $140M for warehouse robotics

Redwood City, California-based , a provider of robotic systems for logistics, warehouses and supply chain, announced it has raised $140 million in a Series B equity and debt funding round led by existing investors and . The round sets a valuation of $1.4 billion for the 4-year-old company.

— Joanna Glasner

Karat raises $110M, hits $1.1B valuation

Seattle-based closed a $110 million Series C led by , valuing the company at $1.1 billion. The company鈥檚 鈥淚nterviewing Cloud鈥� looks to solve the software engineer shortage problem by reducing time spent on interviewing and increasing hiring goals.

Founded in 2014, the company has now raised more than $169 million, according to Crunchbase data.

鈥� Chris Metinko

SeatGeek to go public through SPAC

Ticketing platform said Wednesday that it plans to go public through a merger with the special-purpose acquisition company Redball Acquisition Corp. The deal gives SeatGeek, which is backed by investors including and , an enterprise value of about $1.35 billion.

–Sophia Kunthara

Fintech

鈥� AvidXchange prices IPO: Charlotte-based , a provider of software for invoice and payment processing, raised $660 million in its initial public offering after pricing shares at $25 each, the top of the proposed range. Shares will begin trading on under the symbol AVDX.

— Joanna Glasner

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