(Reuters) – Popular online fitness training platform Zwift raised $450 million in a new investment round led by U.S. private equity firm KKR & Co Inc KKR.N, the company said on Wednesday.
The latest investment values the California-based company at more than $1 billion, a person familiar with the matter told Reuters, who declined to be identified as the information was not public.
Zwift, which is geared to running and cycling enthusiasts, said it will not be disclosing details on its valuation.
The firm has over 2.5 million accounts registered in 190 countries and uses immersive 3D technology to help runners and cyclists train virtually through its app. The app has garnered more than 500,000 downloads on Alphabet Inc’s