- General
- December 19, 2018
- 7 minutes read
Zwift Raises $120 Million For Its Real-Time Indoor Cycling Multiplayer Game
Zwift players make use of the RunPod sensor pictured here to compete in real-time with other indoor cyclists image :…
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| Zwift players make use of the RunPod sensor pictured here to compete in real-time with other indoor cyclists
image : Zwift
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Zwift, an interactive platform for fitness enthusiasts to turn indoor cycling into a competitive, immersive and social real-time multiplayer gaming experience has closed on $120 million in Series B funding which will be used to expand into further training categories and esports tournaments according to its co-founder and CEO Eric Min.
This round was led by Highland Europe with participation from online bicycle retailer Ribble owner True and sports-focused investment firm Causeway Media. It has now raised $166 million in funding till date.
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| Zwift gameplay
image : Zwift
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| Zwift players can also compete in running
image : Zwift
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“With this significant investment, Zwift is now more than ready to propel the business forward by providing innovative offerings that are greater in breadth and depth.” CEO Eric Min said. To use Zwift, users make use of the RunPod, a sensor that directly attaches to the shoe and tracks movements during gameplay. Wearers can compete with persons from around the globe in cycling and running races to boost morale and claim ground.
Users mount their own bike linked up with a Zwift trainer (an equipment that turns a bike into a stationary one for indoor training) and in front of a TV linked to a Mac, Windows or iOS app. A free trial period is provided after which a $15 monthly subscription fee is charged. Zwift has over 1 million users signed up currently with users ranging from casual cyclers to deep sports enthusiasts.
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| image : Zwift |
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| image : Zwift |
Getting into e-sports could be a very lucrative opportunity to grow its base on the feel of gaming competition with cyclists and athletes getting to battle one another in real-time. “It’s a highly scalable business and we’ve been impressed with how they have already managed to expand globally – already 70% of current subscribers are from outside the USA.” Highland Europe’s Tony Zappala said.
Zwift will be expanding into further categories even as cycling makes up 98% of current activity. Running just began to take off on its platform and will likely stand along with other upcoming categories as a way of attracting more users to its platform.
