Zwift has raised $620 million from backers including Amazon’s Alexa Fund, KKR & Co. and Permira Holdings. According to Bloomberg, Zwift expects these investments to enable it to increase subscription prices, reach the milestone of ten million subscriptions (from roughly one million), take the company public and eventually invest in additional areas of at-home fitness, such as indoor running.
Peloton Interactive is Zwift’s larger rival. Unlike Peloton, however, Zwift does not sell its own bikes, treadmills or rowing machines and its main offering is a subscription-based app, for which has charged $15 a month for the past five years.
