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Peloton Raises $550 Million in Final Funding Before Planned IPO

  • Investors value home-fitness startup at $4.15 billion
  • Funding round led by TCV with backing from Tiger, GGV
A Peloton bike.

A Peloton bike.

Source: Peloton

Peloton Interactive Inc., a startup that makes web-connected home-fitness equipment and content, raised $550 million in a funding round led by venture capital firm TCV.

The investment values Peloton at $4.15 billion and includes backing from Kleiner Perkins Caufield & Byers, Tiger Global Management and GGV Capital. The company said the financing will be its last before pursuing an initial public offering as soon as next year.