Compass has added Mindbody CEO Josh McCarter to its board of directors, according to an announcement on Monday. McCarter is the New York City-based brokerage’s seventh board member, alongside CEO and founder Robert Reffkin, Charles Phillips, Jeffrey Housenbold, Steve Sordello, Pamela Thomas-Graham and Frank Martell.
“I am beyond excited to join the Compass board,” McCarter said. “Compass is doing for real estate agents what Mindbody does for wellness entrepreneurs — providing a seamless platform of software, services, and support to help them run and grow their businesses. I look forward to contributing my experience in this space to advance the company’s agent-centered strategy and next phase of growth.”
McCarter joined Mindbody in April 2018, when the wellness-focused software-as-a-service (SaaS) platform acquired his business management and scheduling company, Booker, and appointed him as its new chief strategy officer. After two years, he rose up the ranks to CEO and revamped Mindbody’s sales, marketing, customer services, business development, and corporate development strategies.
The company experienced a downturn in the early days of the coronavirus pandemic; however, Mindbody quickly bounced back and brokered an all-stock acquisition deal of ClassPass, a subscription service that enables users to buy classes at multiple fitness studios on a month-to-month basis. The company is also considering a 2023 reentrance to the stock market, four years after being acquired by Vista Equity Partners for $1.9 billion.
Prior to his time at Mindbody, McCarter had executive roles at Spafinder, Abitech and Autobytel.com. He graduated Cum Laude from UCLA in 1993 and received his Master of Business Administration from USC in 1999.
Reffkin said he’s “delighted” to have McCarter join Compass’ board of directors and lend insight into the brokerage’s expansive tech upgrade slated for this year. In November, Reffkin announced the development of several agent-focused tools that will make it easier to build a robust referral pipeline, collaborate with current clients and receive commission payouts.
“Josh is a proven business leader with a deep knowledge of building technology platforms with embedded payment applications that empower entrepreneurs to grow their businesses,” he said. “His extensive experience adds tremendous value to the Compass board of directors.”
Compass has been steadily growing its board of directors over the past two years, with several all-star appointments including digital media entrepreneur Pamela Thomas-Graham in February 2020 and CoreLogic CEO Frank Martell in November 2021.