Most Innovative Companies


SoulCycle is an American indoor cycling company with studios across the U.S. and a cultish following of "spinners." Founded in 2006 with a single cycling studio on New York City's Upper West Side, SoulCycle's spin classes helped usher in a national craze of synchronized boutique group exercise. Having won over an elite customer base on the east and west coasts, SoulCycle is maintaining the lead on its ever-growing list of competitors by recruiting new devotees in unexpected markets. In 2015, it expanded its studio footprint from 37 to 55, including two in new cities: Miami and Chicago. But that's just a fraction of the 250 U.S. locations where SoulCycle sees a demand for its faux candlelit cycling classes. Before opening doors in new cities, a team is dispatched to connect with locals to quickly establish a community. And the company maintains its integrity by prioritizing strong relationships between instructors and riders, who pedal through 45-minute classes together to the tune of carefully coordinated jams. In 2016, SoulCycle expanded to Houston and Philadelphia. And the company has teamed up with Target for a cross-country tour, bringing free classes to 10 cities including Denver, Minneapolis, Nashville, and Atlanta. Next up: The company wants to go beyond the studio walls, potentially bringing the SoulCycle experience into spinners' homes in the style of competitor Peloton. With an IPO in the works, SoulCycle is clearly breaking away from the pack.

2018: Wellness
2013: Fitness
valuation: $900 million
public or private: Private
staff: 1,237
users: 300,000 unique riders; 10,378 rides per day; 25,641 classes
headquarters: New York, NY
Competition: Peloton