# Zwift

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zwift

- Industry: Software
- Headquarters: Long Beach, US
- Website: www.zwift.com
- Total disclosed funding: $597M
- Latest round: Series C (Sep 16, 2020)
- Investors on record: 12

## About

Founded in 2014, Zwift, Inc. is a California-based company that provides a virtual training platform for cycling and running, combining immersive experiences with community engagement for athletes of all levels.Zwift, Inc. specializes in an interactive online training platform for cyclists and runners, founded by Alarik Myrin, Eric Min, Jon Mayfield, and Scott Barger. The company is headquartered in Long Beach, California, and has secured a total of USD 450.00 mn across four funding deals, with the latest being a Series C round on March 5, 2021. Eric Min serves as the CEO, having been instrumental in the company’s growth.Zwift is a leading provider of an immersive indoor cycling and running application designed to enhance the training experience for athletes at all levels. The company's core product is the Zwift platform, which allows users to engage in virtual training through smart bikes and trainers, effectively simulating outdoor experiences in a digital landscape. By connecting their equipment to the app, users can cycle or run through various terrains, participate in organized events, and join training programs, thereby addressing the need for motivation and community in indoor exercise. Zwift targets a diverse customer base, including amateur and professional athletes, fitness enthusiasts, and social cyclists, serving markets in North America, Europe, and parts of Asia, where the demand for engaging indoor training solutions is significant. The company has expanded its offerings through features like the Zwift Academy and various seasonal events, continuously updating its platform to enhance user engagement and experience.Zwift operates on a subscription-based revenue model, generating USD 36.00 mn in revenue for the most recent year, 2017. Customers pay a recurring fee to utilize the platform's extensive training and competition features, which may also include special events and community challenges. The primary transaction structure involves direct-to-consumer sales, with users subscribing to the service via the company’s website or app. This model may lead to varying revenue streams as the company introduces partnerships or promotional offerings, enhancing user engagement and retention. While specific pricing plans for subscriptions vary, the company's flagship service provides comprehensive access to training tools and virtual environments for cyclists and runners, ensuring that users can optimize their training year-round.Zwift plans to leverage its recent Series C funding for product development and market expansion. It aims to launch new features and enhancements to its platform, targeting the release in the upcoming year. The company is also looking to expand its presence in Europe and Asia by the end of 2022, seeking to tap into the growing markets for digital fitness solutions.

## Funding rounds

- Series C, Sep 16, 2020, $450M — KKR, Permira, Novator, True, Causeway, Highland Europe, Ion Pacific, Amazon, Zone 5 Ventures
- Series B, Dec 20, 2018, $120M — Novator, True, Causeway, Highland Europe, Ion Pacific
- Series A, Nov 1, 2016, $27M — Shasta Ventures, Novator, B-Flexion, SAMCHULY BICYCLE CO., LTD.

## Investors

- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Series A
- Novator (https://capitalatlas.ai/funds/novator) — Series A, Series B, Series C
- B-Flexion (https://capitalatlas.ai/funds/b-flexion) — Series A
- SAMCHULY BICYCLE CO., LTD. — Series A
- True (https://capitalatlas.ai/funds/true) — Series B, Series C
- Causeway (https://capitalatlas.ai/funds/causeway) — Series B, Series C
- Highland Europe (https://capitalatlas.ai/funds/highland-europe) — Series B, Series C
- Ion Pacific (https://capitalatlas.ai/funds/ion-pacific) — Series B, Series C
- KKR (https://capitalatlas.ai/funds/kkr) — Series C
- Permira (https://capitalatlas.ai/funds/permira) — Series C
- Amazon (https://capitalatlas.ai/funds/amazon) — Series C
- Zone 5 Ventures (https://capitalatlas.ai/funds/zone-5-ventures) — Series C