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Tuesday, April 16, 2024
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Hydrow Funding Reaches Nearly $200M

Hydrow/Design: Alex Brooks

Kansas City Chiefs star Travis Kelce and activewear brand Fabletics are investing in at-home rowing machine maker Hydrow. 

The company’s latest funding round brought in comedian Whitney Cummings and recording artists Justin Timberlake and Lizzo, adding to a list of investors that includes Kevin Hart, who was named creative director of the Hydrow last October. Hydrow launched a partnership with Fabletics the same month.

While specific financial terms were not disclosed, the new funding brings Hydrow’s total amount raised to nearly $200 million.

  • Hydrow’s sales grew by 500% in 2020, according to Bloomberg. Founder and CEO Bruce Smith said sales rose 300% through June of this year compared to the same period in 2020.
  • The company is in talks to go public via a SPAC merger with Sandbridge X2 Corp., which would value the combined company at more than $1 billion.
  • Last year, Hydrow raised $25 million in a round that included private equity firm L Catterton and Rx3 Growth Partners, co-founded by Aaron Rodgers.

Smith says some of the funding will be used to meet product demand during the holiday season and create more content for users. 

Hydrow sells its rowing machines for $2,295 and offers 3,000 live and on-demand workouts.

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