Indoor cycling business Peleton of New York has just closed a series E financing round that saw a total of $325 million invested.
Earlier in 2017 the business was touted as New York’s fastest growing business by Crain having tripled its annual revenue and seen its subscriber base grow three-fold. The business has also grown from 14 to 20 showrooms around the USA and now expects to open many more.
“We are changing the way people engage in fitness. This financing will allow us to expand our product and content offerings, open new showrooms across the country, and continue to innovate the experience we offer our members at every touchpoint,” said Peloton Founder and CEO John Foley.
Peleton is noted for its flagship award-winning indoor cycling experience and has recently gone further to introduce a commercial use ready bike tailor made to quickly adapt to new users. As a result oif the popularity of its products the firm has inked a number of high profile deals with hotel groups such as Westin Resorts.
The funding round was led by Fidelity Investments, True Ventures, Wellington Management and Kleiner Perkins and drew further investment from the likes of Comcast NBCUniversal, QuestMark and GGV Capital.