Funding round
Zwift Pre-seed
Zwift, which works in virtual cycling and running platform development in Long Beach, raised $7.0M in a Pre-seed round announced on 1 Sep 2014. It is Zwift's first venture round on record.
$7.0M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Zwift did not disclose a valuation in this round. It is Zwift's first venture round on record, in the year it was founded (2014). It is 1.2% of the $604M Zwift has raised in the venture rounds on record. Zwift raised again 26 months later: a Series A round of $27M in Nov 2016. Its next priced round, a Series C in Sep 2020, valued it at $1.00B.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
7 Pre-seed rounds in Tech Companies within a year either side disclosed an amount; the median was $300K, and this round was 23 times the median. The closest in time, other companies' Pre-seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jan 2015 | $1.6M | not disclosed | not named |
| Tech Companies | 1 Jan 2015 | $900K | not disclosed | Inovo |
| Tech Companies | 17 Mar 2014 | $150K | not disclosed | not named |
| Tech Companies | 1 Jan 2014 | $300K | not disclosed | Peak Ventures |
| Tech Companies | 12 May 2015 | $100K | not disclosed | not named |
| Tech Companies | 1 Jul 2015 | $25K | not disclosed | not named |
| Tech Companies | 26 Aug 2015 | $1.7M | not disclosed | OCA Ventures |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Zwift raise in its Pre-seed round?
Zwift raised $7.0M in its Pre-seed round, announced in Sep 2014.
What was Zwift's valuation at the Pre-seed round?
It was not disclosed.
How does it compare with other Pre-seed rounds in Tech Companies?
7 Pre-seed rounds in Tech Companies within a year either side disclosed an amount; the median was $300K, and this round was 23 times the median.
Did Zwift raise again after this round?
Yes: a Series A round in Nov 2016 of $27M.