Funding round
Zwift Series B
Zwift, which works in virtual cycling and running platform development in Long Beach, raised $120M in a Series B round announced on 19 Dec 2018, led by Highland Europe. 4 firms took part. It is Zwift's third venture round on record; the one before was a Series A in Nov 2016.
$120M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Zwift did not disclose a valuation in this round. It came 25 months after Zwift's Series A. It is 20% of the $604M Zwift has raised in the venture rounds on record. Zwift raised again 21 months later: a Series C round of $450M in Sep 2020, at $1.00B post-money.
Investors
Who put money in
Highland Europe led the round with 3 other firms.
Lead investor
- backs 45 venture-backed companies new investor
Also in the round
- backs 24 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- Novator new investor
Comparable rounds
How it compares
494 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 6.0 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Fair Holdings Tech Companies | 20 Dec 2018 | $385M | $1.00B | SoftBank |
| Tech Companies | 12 Dec 2018 | $40M | not disclosed | Insight Partners |
| Tech Companies | 20 Dec 2018 | $40M | not disclosed | Lux Capital |
| Tech Companies | 12 Dec 2018 | $35M | not disclosed | Accel and Syngenta Ventures |
| Tech Companies | 12 Dec 2018 | $35M | not disclosed | Accel and Syngenta Ventures |
| Tech Companies | 12 Dec 2018 | $30M | not disclosed | Insight Partners |
| Tech Companies | 29 Dec 2018 | $29M | $145M | ADDOR CAPITAL |
| Tech Companies | 19 Dec 2018 | $28M | not disclosed | Digital + Partners and Bain Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Zwift raise in its Series B round?
Zwift raised $120M in its Series B round, announced in Dec 2018.
Who led Zwift's Series B round?
Highland Europe led it, with True, Causeway and Novator.
What was Zwift's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
494 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 6.0 times the median.
Did Zwift raise again after this round?
Yes: a Series C round in Sep 2020 of $450M at $1.00B post-money.