Gymdesk.

In their words

• He Sold at $3M ARR and Got a 10X+ Exit to a PE Buyer – Eran Galperin Eran Galperin built Gymdesk, gym management software for martial arts schools, after an earlier VC-backed marketplace failed. He grew it slowly, mostly on nights and weekends, to $3M ARR with 16 employees. In May 2024 he sold a majority stake to Five Elms Capital for $32.5M in cash for his share. He argues buyers paid a premium for low churn and steady growth, not size.