Zwift raises $120 million to expand its virtual training worlds for cyclists, runners, and esport contests

Zwift, a Long Beach, California-based startup that develops virtual worlds for cyclists and runners, has raised $120 million in a series B round of funding led by Highland Europe. Additional investors include True, Causeway Media, and Novator.

Founded in 2014, Zwift initially built its business on top of virtual training games for cyclists. The company’s platform connects to physical indoor trainers so that cyclists can pedal inside while immersed in any number of virtual landscapes on a screen in front of them. It also allows friends to join in rides together.