Peloton, the at-home indoor cycling company, has raised $550 million in a new funding round that values the company right around $4 billion.
The late-stage, Series F funding round, led by the venture capital firm TCV, comes as the maker of video-streaming stationary bikes plans for an initial public offering, according to The Wall Street Journal, and looks to build a Netflix-like service for fitness streaming.
Peloton has raised nearly $1 billion in total over the past few years, according to Crunchbase, fueling massive expansion plans that have made the brand a household name.