Peloton Gains $550 Million In Series F Funding Led By TCV
Global fitness technology company Peloton announced a $550 million Series F financing round led by TCV, one of the world’s largest technology growth equity firms. Existing institutional investors Tiger Global, True Ventures, Wellington Management, Fidelity (FMRCo), NBCUniversal, Kleiner Perkins, and Balyasny also participated in this round, and were joined by new investors Felix Capital and Winslow Capital.
The Series F round brings the total equity raised by Peloton to $1 billion since its inception, and positions it to take advantage of the global trend of instructor-led fitness classes moving into the home. The company plans to use the funds to innovate aggressively and further expand into international markets, as well as to provide liquidity to existing shareholders. The round is scheduled to close in the third calendar quarter, subject to customary closing conditions and regulatory approvals.