Peloton races toward IPO with ICR for comms support

The financial comms agency is supporting Peloton with IR and PR.

Peloton races toward IPO with ICR for comms support

NEW YORK: Indoor fitness startup Peloton Interactive has brought on ICR to handle all communications for its upcoming IPO.

ICR is supporting Peloton on IR and PR, a representative from the financial comms firm told PRWeek.

Peloton, the startup known for its exercise bikes and treadmills, had a $4 billion valuation after its Series F funding round in August, according to a statement. It filed a confidential draft with the Securities and Exchange Commission and did not disclose the terms of its public offering.

TCV led the Series F round, joined by Tiger Global True Ventures, Wellington Management, Fidelity, NBCUniversal and Kleiner Perkins, the statement said. There were also two new investors, Felix Capital and Winslow Capital.

Peloton used the capital raised to "innovate aggressively and to expand into more international markets," a statement said.

ICR wasn’t immediately available for further comment.

Since taking on a private equity investment from Investcorp in 2018, ICR has made a push into several new businesses, including health and wellness. The agency acquired Westwicke Partners, a healthcare financial firm, in 2019.

ICR reported it increased revenue by 9% year-over-year to $69.1 million.

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