Sport, parks and leisure - Online cycling racing platform Zwift secures US$120m funding...
22 Jan 2019 Sport, parks, & leisure: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

27 Dec 2018

Online cycling racing platform Zwift secures US$120m funding
BY Tom Walker

The Zwift app enables users to ride or run with friends from all over the globe

The Zwift app enables users to ride or run with friends from all over the globe

Zwift, a multiplayer online training and racing platform for cyclists and runners, has secured US$120m worth of series B funding.

The company will use the investment in growing its new running discipline and also to expand into esports.

The Zwift app enables users to ride or run with friends from all over the globe, complete structured workouts, and participate in group events in several virtual environments.

Riders from around the globe can train and compete with each other in 3D-generated worlds by connecting their existing devices and hardware – such as cycle trainers, power meters, treadmills and heart rate monitors – wirelessly via open hardware such as ANT+ and BLE.

The Series B round was led by Highland Europe – whose existing investments include fitness equipment provider eGym and file transfer giant WeTransfer. It also included injections from True, the leisure investment firm behind the Ribble cycling brand; Causeway Media, an investor in both traditional sports and esports; and London-based investor Novator.

“Zwift is a fantastically innovative company and they are certainly leading the way in the indoor training space,” says Tony Zappala, partner of Highland Europe.

“It’s a highly scalable business and we’ve been impressed with how they have already managed to expand globally – 70 percent of current subscribers are from outside the US.

"Research points to an audience of 40 million competitive and enthusiast cyclists, and many of those lie in the traditional cycling nations of Central Europe, so in this market alone there is huge growth potential.”

Eric Min, Zwift co-founder and CEO added: “In 2018, more than one third of the Tour de France peloton were Zwifters.

"With that support already in place, we are in the unique position of being able to combine affordable physical endeavour with video gaming technology, ultimately setting the stage for us to become the first true esport of its kind.”

One of the elite riders to back the technology is Mark Cavendish, 2011 World Champion and 30-time Tour de France stage winner.

“Zwift has transformed the way the professional peloton trains.” Cavendish said. “Before Zwift, there is no way I would have chosen to ride an indoor trainer.

"Now though, I genuinely enjoy it - it appeals to the gamer in me. Riders like myself are genuinely fitter now, thanks to Zwift.”

Zwift is currently available on PC, Mac, Apple TV, iOS and Android.




Connect with
Sport Parks Leisure
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Sheffield's Advanced Wellbeing Research Centre to open this year
Sheffield's Advanced Wellbeing Research Centre to open this year   21 Jan 2019

The Advanced Wellbeing Research Centre (AWRC) will open its doors at Sheffield Hallam University later this year. Forming the centrepiece of the .... more>>
10 NGBs secure Sport England funding for two more years
10 NGBs secure Sport England funding for two more years   17 Jan 2019

Ten national governing bodies of sport (NGBs) have been granted further financial support from funding body Sport England. The 10 NGBs will use .... more>>
'History is made' as Luton secures planning permission for stadium
'History is made' as Luton secures planning permission for stadium   17 Jan 2019

League One football club Luton Town has been granted permission to build a 17,500 all-seater stadium in the town centre. The club submitted a .... more>>
UFC Gym to open first two UK sites in April
UFC Gym to open first two UK sites in April   16 Jan 2019

Franchised fitness operator UFC Gym has revealed that it will open its first UK locations in Nottingham and Woking. The US-based company is set to .... more>>
Work begins on Edinburgh's £47m Meadowbank Sports Centre
Work begins on Edinburgh's £47m Meadowbank Sports Centre   16 Jan 2019

Demolition work has begun on the former Meadowbank Stadium in Edinburgh – acting as the starting gun for a project to build a new £47m sports centre .... more>>
Company profile


Rephouse Europa Ltd

Neoflex® Fitness Flooring is a premium quality rubber floor suitable for cardio and strength areas, High Impact Tiles for free-weight areas, freestyle and group exercise areas.

View full profile>>

Catalogue gallery


Featured Supplier

Core Health & Fitness presents the new Star Trac FreeRunner

Core Health & Fitness presents the new Star Trac FreeRunner

Treadmills are the most used cardio equipment in the gym but have seen the least amount of innovation in the past 15 years More>>




in this issue

• Long-term plan for NHS published
• NIHR to study role of exercise in cancer care
• Hilton unveils quayside hotel in London



Latest jobs

Jobs Search



Personal Trainer
Salary: 100% of your PT earnings
Location: London, England, UK
Company: The Gym Group
Group Fitness Team Leader
Salary: £30,756 to £33,136
Location: Wirral, UK
Company: Wirral Borough Council
Personal Trainer
Salary: 100% of your PT earnings
Location: Cheshire, England, UK
Company: The Gym Group
Diary dates
Powered by leisurediary.com




22-24 Jan 2019

BIGGA Turf Management Exhibition (BTME)

Harrogate Convention Centre, Harrogate, United Kingdom



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Arts & Culture: The show must go on
When austerity hits hard, UK theatres adapt and get creative More>>
  Profile: Stephen Hulme
We look back on the career of Everyone Active CEO Stephen Hulme More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  On the cover: AJ Hackett
Bungy, New Zealand More>>
  Gymtopia: Angels’ advocate
Gymtopia founder Ray Algar on making a difference beyond the health club walls More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd