Rowing Machine Manufacturer Hydrow Lands Celebrity Financing From Lizzo and Justin Timberlake
Hydrow, the maker of a connected rowing machine, said Tuesday it has secured nearly $200 million in financing after its latest funding round with celebrity backers including Lizzo and Justin Timberlake.
Founder and Chief Executive Bruce Smith said a portion of the funding will be used to make sure it has enough product to meet the anticipated demand this holiday season. Hydrow’s machines sell for $2,295, and the company offers on-demand fitness classes including pilates and yoga and rowing instruction through a monthy subscription fee.
The company didn’t disclose its latest valuation, but Bloomberg reported in August that Hydrow is in talks to go public through a merger with special purpose acquisition company Sandbridge X2 Corp., in a deal that would value the combined entity at more than $1 billion.
