Peloton at the moment introduced its Collection F funding of $550 million. That brings the full quantity raised, in line with CrunchBase, to $994.7 million. In accordance with the announcement, this spherical places Peloton’s valuation at $four billion — it was just last May the company hit unicorn status.
TCV led the spherical with different participation within the spherical from Tiger International, True Ventures, Wellington Administration, Constancy, NBCUniversal, and Kleiner Perkins, together with new traders – Felix Capital and Winslow Capital.
“We’re really honored to accomplice with TCV and with Jay Hoag personally,” mentioned John Foley, founder and CEO of Peloton, in a launched assertion. “TCV’s fame, expertise, and involvement in companies like Netflix, Spotify and Fb might be invaluable as we construct Peloton into one of the distinctive and influential world client product and media firms of our day.”
The corporate beforehand closed a $325 million Collection E, which was reportedly used to gas growth into the retail market. The corporate expects to make use of the most recent spherical of funding to proceed rising that sector and develop worldwide.
Earlier this yr, Peloton introduced its second product, a related treadmill, which the corporate nonetheless says will launch to customers this fall. The corporate additionally launched a brand new membership product and opened a number of retail places.