Zwift raises US$120 million with plans to grow ESports
Investment by London-based venture firm paves the way for Zwift's future
Zwift has received US$120 million after closing a round of funding led by Highland Europe, a London-based venture firm. The money will be used to set up an ESports league and expand the platform’s offerings in other sports as reported by Bloomberg.
Zwift has changed the way people ride indoors giving triathletes, cyclists and runners an online world where they can train, race and interact with one another.
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The investment will give Zwift the funds needed to set up an ESports pro cycling league called the KISS Super League. The league will feature Team Wiggins, Canyon DHB p/b Bloor Homes, Hagens Berman Axeon, Team Dimension Data for Qhubeka U23, Madison Genesis, Hincapie and Oliver’s Real Food Racing.
In addition to expanding the competitive cycling offerings on Zwift, the Long Beach, California based company will expand it’s treadmill offerings for runners and could expand into other sports such as rowing. Right now Zwift is only offered in English, but Zwift has plans to also expand it’s language offerings.
The news of the investment comes at an exciting time for Zwift. At the end of 2018, Zwift announced that the Specialized Zwift Academy Tri would return in 2019. In its inaugural year, 2018, four triathletes were selected to join the Specialized Zwift Academy Tri Team. Three of the four team members competed at the 2018 Ironman World Championship.
Related: Specialized Zwift Academy Tri returns for 2019
In 2019, Zwift will be putting together a team of eight amateur triathletes with the aim of competing at the 2019 Ironman World Championships in Kona, Hawaii.
Along with expert guidance, the team will be supported with some of the best equipment the industry has to offer from brands including Specialized, Wahoo, Roka and Science in Sport.