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Zwift Raises $450 Million Investment; Series C Round Led By KKR

Zwift Raises $450 Million Investment; Series C Round Led By KKR

LONG BEACH, Calif., Sept. 16, 2020 /PRNewswire/ — Zwift, the global online fitness platform for cyclists and runners, today announced a $450 million minority investment…

Wednesday, Sep 16

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LONG BEACH, Calif., Sept. 16, 2020 /PRNewswire/ — Zwift, the global online fitness platform for cyclists and runners, today announced a $450 million minority investment led by leading global investment firm KKR, accompanied by other new investors Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures and the Amazon Alexa Fund and existing investors including True, Highland Europe, Novator and Causeway Media. The investment will be used to accelerate the development of Zwift’s core software platform and bring Zwift-designed hardware to market, making Zwift a more immersive and seamless experience for users. (PRNewsfoto/Zwift) Zwift uses the power of gaming technology to bring the outdoor experience indoors, making at home exercise a fun, engaging and social experience by connecting cyclists and runners in immersive 3D computer-generated worlds. Users of the Zwift platform interact, train and compete together by wirelessly pairing a bike trainer or treadmill to the Zwift app, to power their in-game avatars. This fully immersive experience brings the experience of the outside world into the virtual, simulating the gradients of mountain climbs and the draft of other riders. The platform offers its members the opportunity to explore 240 miles of terrain in 10 virtual worlds where they can also follow structured training plans, enjoy group rides or take part in any one of the hundreds of daily mass participation events. The social aspect of the platform helps deliver the experience of competitive and communal training for users who want to ride or run together and maintain social […]

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