Category: Alicia Keys

June 3, 2019 Off

Fitness startup Mirror nears $300M valuation with fresh funding

By Jill T Frey

Today, Peloton is a bonafide success. The company, which sells $2,245 internet-connected exercise bikes, boasts a $4 billion valuation and a cult following.

That hasn’t always been the case. For years, Peloton battled for venture capital investment and struggled to attract buyers. Now that it’s proven the market for tech-enabled home exercise equipment and affiliated subscription products, a whole bunch of startups are chasing down the same customer segment.

Mirror, a New York-based company that sells $1,495 full-length mirrors that double as interactive home gyms, is closing in a round of funding expected to reach $36 million, sources and Delaware stock filings confirm, at a valuation just under $300 million. It’s unclear who has signed on to lead the round; we’ve heard a number of high-profile firms looked at Mirror’s books and passed. The company has previously raised a total of $38 million from Spark Capital, First Round Capital, Lerer … Read the rest