Zwift is a fitness company that uses games to motivate people.
Zwift is a fitness company that uses games to motivate people.
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Zwift raises $450 million for gamified fitness to cycle past Peloton

  • Posted byby Dean Takahashi
  • Updated
  • 2 min

Zwift has raised an astounding $450 million to expand its online fitness platform for runners and cyclists in direct competition with the likes of Peloton, Apple, and others.

The money came from investment powerhouse KKR, as well as Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures, and existing investors such as True (not to be confused with True Ventures, which is an early investor in Peloton), Highland Europe, Novator, and Causeway Media. One of the prominent gaming investors is Ilkka Panaanen, the CEO of Clash of Clans maker Supercell. The investment will help accelerate the development of the company’s core software platform and bring Zwift-designed hardware to market.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.