Business
Zwift secures $625m in funding as pandemic takes cycling indoors – Sydney Morning Herald
Online fitness platform Zwift has secured $US450 million ($625 million) in funding on the back of a boom in virtual fitness driven by the coronavirus pandemic.
“The Australian market is one of our largest markets,” he said. “The Australians for us are such an influential group. They spend a lot of time on Zwift and are pretty active in the community.”
The investment in Zwift was lead by global investment firm KKR and accompanied by other new investors Permira, Zone 5 Ventures, Specialized Bicycle Components venture capital fund and existing investors including True, Highland Europe, Novator and Causeway Media.
Mr Min said the funds will be used to ac…
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