BizTrailBlazer-Blog-Zwift-raised-a-hefty-$450-million-in-funding-KKR

Zwift an Online Training App Raises $450 million

An online fitness-based platform Zwift that immerses cyclists and runners in a 3D generated environment has raised a massive $450 million in a funding round, led by KKR the investment firm. Zone 5 ventures also joined this round along with Highland Europe, Causeway Media, and Novator who are also the earlier backers of the app.

With a total of $620 million in funding, the company is valued just short of $1 billion. Since Zwift’s 2015 funding, as much as 2.5 million people have signed up to enter a world, that Outside magazine once described as, “part social media platform, part personal trainer and part computer game.” And no! this is no joke! This particular combination has made Zwift interesting for both recreational and pro riders to train in any conditions.

However, the company declined to comment on its active subscriber numbers, Currently, it charges $15 per month, but it has a loyal base of users, and 117000 of them recently participated in the virtual version of Tour De France hosted by Zwift.

Now it is looking to enter into the hardware business, but it hasn’t revealed anything in particular. However, the company believes, that the hardware will provide a much more immersive experience for its users.

Stephen Shanley, the Director of KKR, said in a statement, “Zwift is the preeminent digital brand for the global cycling community with a best-in-class product that sits at the intersection of digital health, gaming, and at-home fitness. We see tremendous potential ahead as Zwift invests further in its digital and physical products to enhance the experience for its global community of enthusiastic users. This investment fits perfectly with our growth equity strategy of backing leading tech entrepreneurs as they scale globally.”

Share Now

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp

get your ad spaces

BizTrailBlazer---400X700-Ads

explore other articles

BizTrailBlazer-Blog-Microsoft-is-All-Set-to-Acquire-ZeniMax

This morning, Microsoft announced its plans to acquire ZeniMax Media Inc. for as much as $7.5 billion in cash. ZeniMax is the parent company of a number of popular publishers …

BizTrailBlazer-Blog-ByteDances-TikTok-Global-Planning-for-Public-Offering

ByteDance, TikTok’s parent company said that TikTok Global will soon launch a public offering of shares in order to enhance the governance structure and transparency for the firm, which will …

BizTrailBlazer-Blog-Improve-Your-Company-by-Using-the-Right-ERP-Solution

It is pleasing that technology has helped us to change our lifestyle and have some means of soothing ourselves in all areas of life. We cannot advance or do much …

Financial-Scams-Seniors-Should-be-Aware-Off---BizTrailblazer-Blog

Rob felt something was ‘off’ with his 68 years old father. When they talked, he would tell him how he met a woman online and occasionally sent money to. Although …

you may also like

How-to-Avoid-Credit-Card-Scams---BizTrailblazer-Blog

For years you have been using credit cards to buy everything from gas to groceries. For all these years you were buying things online and you gave up any necessary …

BizTrailBlazer-Blog-Microsoft-is-All-Set-to-Acquire-ZeniMax

This morning, Microsoft announced its plans to acquire ZeniMax Media Inc. for as much as $7.5 billion in cash. ZeniMax is the parent company of a number of popular publishers …

BizTrailBlazer-Blog-Chinas-BYD-and-Didi-to-Launch-Ride-Hailing-Electric-Vehicle

One of the biggest ride-hailing giant of China Didi Chuxing and the well known electric vehicle manufacturer BYD is planning to launch a test batch of a vehicle designed for …

BizTrailBlazer-Blog-Trevor-Milton-Nikolas-Founder-Resigns-after-Fraud-Accusations

Trevor Milton, the founder and executive chairman of Nikola Corp. the hydrogen truck maker has resigned from his post due to the allegations regarding misinterpretation of technology and capabilities before …