Silicon Legal represented Zwift as they raised a $450 million Series C round, bringing capital raised to $620 million altogether and a valuation of more than $1 billion.
Zwift is an LA-based, online fitness platform for cyclists and runners that transforms monotonous solo workouts. The software connects its audience with trainers and other users while offering a wide array of virtual landscapes to choose from. The round was led by global investment firm KKR Ventures in exchange for a minority stake in Zwift’s business, and included additional investment from Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures, the Amazon Alexa Fund, True, Highland Europe, Novator, and Causeway Media.
The Silicon Legal client team included Gaurav Mathur, Brian Schlinkert, Rebecca Tseng-Grant, Mike Perez, Nicole Tate-Naghi, Tommy Szalasny, Britney Warner, and Lynn Stahli.