Zwift raises $ 450 million for playful driving through Peloton


Zwift raised a staggering 450 million. USD to expand its online runner and cyclist fitness platform in direct competition with such as: Fearless, Apple, and more.

The money came from the investment power plant KKR, as well as from Permira, Specialized Bicycle Components Venture Capital Fund, 5 Zone Ventures and existing investors such as True, Highland Europe, Novator and Causeway. Media. One of the most prominent gaming investors is Ilkka Panaanen, CEO of Supercell, a manufacturer of Clash of Clans. The investment will help accelerate the development of the company’s core software platform and bring Zwift-developed hardware to market.

Zwift uses what it calls an “engaging and seamless” experience that motivates consumers to host fitness games and events, such as the virtual Tour de France. This means that running or cycling outdoors is provided, as Peloton does. But the company goes further, immersing consumers in the worlds created by 3D computers. It’s a kind of double blow publicly traded Peloton, because it happened less than a day after Apple announced it would perform distance exercises through the Fitness + app on Apple Watch and iPhone platforms.

With Zwift, people train or compete in a program (on bikes or treadmills). Avatars represent you, and the simulated world takes into account your mountain climbing slopes and the draft of other racers.

The platform offers 240 miles of terrain in 10 virtual worlds. They can follow structured workout plans, enjoy group rides, or participate in any of the hundreds of daily mass participation events. Zwift’s social features help consumers who want to ride or run together and socialize comfortably in the comfort of their own homes, while the user experience is constantly improving. Such activities are popular during a pandemic, when we are all in various stages of locking.

Top: Eric Minas is the CEO of Zwift.

Video Credit: Zwift

Since its inception in 2015. Zwift has registered more than 2.5 million accounts in 190 countries. This year, Zwift has grown rapidly. Zwift is also a leader in the new category of fitness sports, which hosts many professional events. This includes the first Virtual Tour de France in July, an event broadcast in more than 130 countries around the world, where the best professional cyclists, men and women, competed. At the end of this year, Zwift will be the platform for UCI’s main UCI cycling world championship.

KKR director Stephen Shanley said Zwift has the potential to invest in its digital and physical products to build a global community. Zwift has 350 employees and has raised $ 620 million to date. Panaanen will be the new independent board member.

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