- Companies
- Hydrow
Hydrow Valuation, Funding & Investors
Hydrow is valued at $857M as of August 2022.
Last Hydrow valuation
$857M
Undisclosed stage · Aug 2022
Last Hydrow funding round
$32M
Undisclosed stage · Aug 2022
Cumulative funding Hydrow raised
$367M
across 9 funding rounds
Key investors in Hydrow
L Catterton
Rx3 Growth Partners
Castor Ventures
Sandbridge Capital
Alumni Ventures
Green D Ventures
About Hydrow
Hydrow is a Cambridge, Massachusetts-headquartered fitness company offering connected rowing machines simulating on-water experiences. Launched in 2017, its interactive screen streams workouts from U.S. and European rivers with live metrics and instructor-led sessions. The Hydrow Rower integrates electromagnetic resistance and tracks over 1000 metrics, used by elite athletes and home users. Expanding to subscription services, it operates studios in Boston and ships to North America.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Subscription
Valuation
$857M (Aug 2022)
Hydrow Valuation
Hydrow is currently valued at $857M, based on its undisclosed-stage round in August 2022.
Hydrow's valuation has grown 8.6x from $100M at its Series B in June 2020 to $857M in August 2022, across 2 priced rounds.
Hydrow valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2022 | Undisclosed stage | $857M |
| Jun 2020 | Series B | $100M |
Hydrow Funding History
Hydrow has raised a total of $367M across 9 funding rounds.
Hydrow's first fundraising round was a $5M seed round in August 2018. The most recent completed round was a $32M undisclosed-stage round in August 2022.
Hydrow funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Undisclosed stage | - | $32M | $857M | Hydrow is a Boston-based connected fitness company manufacturing an in-home rowing machine that provides Live Outdoor Reality workouts for full-body training. The company raised $55 million in a Series D round in March 2022 led by Constitution Capital (per L Catterton and bizjournals), followed by layoffs of around 70 employees in July 2022, and then nearly $21 million in new funding per an August 2022 SEC filing, with a specific Series S round of $8.02 million on December 20, 2022, at a post-money valuation of $856.78 million and $6.00 price per share. Earlier rounds included $45 million on February 7, 2022, an expanded Series A to $27 million, and $25 million in June 2020 led by L Catterton with participation from Rx3 Ventures. A prior valuation of $1 billion was noted as of August 2021, with later rounds like 2024's Series 1 at much lower $69.24 million post-money. Prior raises fueled growth amid the at-home fitness boom and post-lockdown challenges. Hydrow operates in the competitive connected fitness market, against players like Peloton (valued at $4 billion post-$550 million Series F in 2018), Tonal ($45 million Series C), and others, with the global digital fitness market projected at $27 billion by 2022. |
| Mar 2022 | Series D | Constitution Capital Partners (lead); Liberty Street Funds; Rx3 Growth Partners; L Catterton; Activant Capital; Sandbridge Capital | $55M | - | Hydrow, headquartered in Cambridge, MA, is a connected fitness company providing technology-enabled in-home rowing machines that deliver immersive, full-body workouts simulating the on-water rowing experience. On March 17, 2022, it raised approximately $55 million in Series D funding led by Constitution Capital, with participation from L Catterton, RX3 Ventures (also referred to as Rx3 Growth Partners), Liberty Street, Activant Capital, and Sandbridge Capital. Constitution Capital described this as an equity co-investment alongside L Catterton Growth Partners. The funding supports product innovation, global expansion, and organizational growth amid strong momentum. Hydrow reported revenue growth exceeding 3x from 2020 to 2021, though exact figures were not disclosed. The company had over 200,000 users by early 2022, reflecting rapid community expansion. Its flagship product, an electromagnetic rower with a 22-inch screen, retails for $2,495 plus a subscription for live and on-demand classes. Hydrow had attracted more than $255 million in total funding by this round since its 2017 founding, including early support from figures like Kevin Hart, who became creative director in 2020. It reported 300% year-over-year growth in 2021. In the competitive connected fitness market, Hydrow differentiates with efficient, engaging rowing experiences, positioning against rivals like Aviron, which raised $18.5 million in early 2022 with significant subscriber and revenue growth, and LIT Method backed by Jay-Z’s Marcy Venture Partners. |
| Sep 2021 | Undisclosed stage | Whitney Cummings; Fabletics; Travis Kelce; Justin Timberlake; Aaron Rodgers; Kevin Hart; Melissa (Lizzo) Jefferson | $200M | - | Hydrow is a Boston-based connected fitness company producing premium at-home rowing machines priced at $2,295, which simulate on-water rowing via a patented electromagnetic drag mechanism and provide access to nearly 3,000 live and on-demand workouts led by elite athletes, engaging up to 86% of muscles. The machine pairs with a $38/month subscription for additional content like Pilates and yoga. In September 2021, Hydrow announced investments from celebrities including Aaron Rodgers, Fabletics, Justin Timberlake, Kevin Hart (also creative director), Lizzo, Travis Kelce, and Whitney Cummings, bringing cumulative funding to nearly $200 million without disclosing round size, valuation, or terms. Previous investors included L Catterton and Rx3 Growth Partners in a $25 million round. The funding supports product innovation, global expansion (including UK launch), hiring (e.g., general counsel and chief commercial officer), and meeting holiday demand. Sales grew 500% in 2020 and 300% year-over-year through June 2021, fueled by pandemic-driven home fitness demand, positioning Hydrow as a Peloton rival in the rowing category alongside competitors like Ergatta. Kevin Hart emphasized rowing's superior full-body workout benefits. At the time, Hydrow was reportedly in SPAC merger talks with Sandbridge X2 valuing the combined entity over $1 billion, though no direct valuation tied to this round. The company aimed to mainstream rowing as a lifestyle choice, leveraging celebrity backers' influence across entertainment, music, and sports. |
| Dec 2020 | Series B | L Catterton; Sandbridge Capital; Ambridge Capital | $14M | - | - |
| Jul 2020 | Series A | Castor Ventures | $9M | - | - |
| Jun 2020 | Series B | L Catterton (lead); Ethos Family Office; Rx3 Growth Partners | $25M | $100M | Hydrow is a connected fitness company producing an electromagnetic rowing machine with a 22-inch screen for live and on-demand workout classes, targeting the at-home fitness market amid rising demand during quarantine lockdowns. In June 2020, around the specified date, Hydrow announced a $25 million funding round led by L Catterton, with participation from prior backers like Rx3 Ventures, bringing total capital raised to $52 million at that point. The round followed an initial $20 million tranche earlier in the year, expanded from Series A efforts totaling $27 million including additional investors like Wheelhouse, The Raptor Group, and The Yard Ventures. The funding supported expansion of workout content beyond rowing to functional movement classes and increased sales and marketing across the U.S., capitalizing on a reported 400% sales increase, though time frames were unspecified. L Catterton highlighted Hydrow's superior consumer engagement and growth potential in the connected fitness sector, comparing it to competitors like Peloton, which saw 66% YoY revenue growth. Professional athletes like Aaron Rodgers via Rx3 Ventures backed the company, reflecting athlete investment trends in fitness startups. Hydrow, founded in 2017, later achieved significant traction with 300% YoY growth to 200,000 users by 2021 and revenue over 3x from 2020 to 2021, leading to further rounds like a $55 million Series D in February 2022 with L Catterton, Constitution Capital, Rx3, and others, and a $32.4 million Series E in 2022, totaling over $147 million across 10 rounds. Competitors like Ergatta ($200M valuation), CITYROW, Aviron, and LIT Method also raised funds, underscoring intense competition in connected rowers. |
| May 2019 | Series A | Castor Ventures; Rx3 Growth Partners; Alumni Ventures; Wheelhouse 360 Partners; Raptor Group | $7M | - | Hydrow raised approximately $7 million in an extension of its Series A round on May 14, 2019, from investors including Alumni Ventures, Castor Ventures, Raptor Group, Rx3 Growth Partners, and Wheelhouse 360 Partners. This brought the total Series A to $27 million, following an initial $20 million tranche led by L Catterton. The funding supported nationwide shipping and growth of its connected indoor rowing machine, which provides Live Outdoor Reality workouts. |
| Feb 2019 | Series A | L Catterton (lead); Blue Ivy Ventures | $20M | - | - |
| Aug 2018 | Seed | Richard M. Cashin; Green D Ventures; P. Andrews McLane | $5M | - | - |
Who has invested in Hydrow?
23 investors have backed Hydrow across its funding rounds, including L Catterton, Rx3 Growth Partners, Castor Ventures, Sandbridge Capital, Alumni Ventures and Green D Ventures.
Lead investors include Constitution Capital Partners and L Catterton.
Hydrow Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Feb 2019 | ||
| 3 | Participant | May 2019 | ||
| 2 | Participant | May 2019 | ||
| 2 | Participant | Dec 2020 | ||
| 1 | Lead | Mar 2022 | ||
| 1 | Participant | Aug 2018 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Aug 2018 | ||
| 1 | Participant | May 2019 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 23 Hydrow investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Hydrow
Hydrow has acquired 1 company to date.
Last acquisition by Hydrow was on May 9th 2024. Hydrow acquired Speede Fitness for undisclosed valuation.
Latest Acquisitions by Hydrow
| Description | Speede Fitness is a provider of at-home fitness equipment and programs accessible via mobile app. Based in the United States, it offers resistance band systems, workout trackers, and virtual coaching tailored to beginners through advanced users. Partnerships with fitness influencers deliver guided sessions in strength training and HIIT, with equipment shipped directly to consumers for scalable personal training without gym memberships. |
| HQ Country | |
| HQ City | Chicago, IL |
| Deal Date | 9 May 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Hydrow acquisitions and their M&A valuation multiples. Start Free Trial | |
Hydrow Competitors
Hydrow competitors include listed companies like Daiichikosho and Marcus, and private ones like Huami, Strava, Hudle and OPKIX.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1B | $268M | $1.3B | 1.3x | ||
| Private | $41M | - | $800M | 19.5x | ||
| Private | $500M | - | $1.5B | 3.0x | ||
| Private | - | - | $2.8B | - | ||
| Private | - | - | $245M | - | ||
| Publicly listed | $758M | $90M | $862M | 1.5x |
Hydrow Public Comps
Hydrow is still privately-owned, but its public comps include Marcus, Shenzhen Rapoo Technology, Guangzhou Pearl River, EIZO, SATS Group, Eureka Forbes, Quest Holdings, Skyworth Group, Primax Electronics and New Vision Electronics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $758M | $90M | 1.5x | 1.5x | 12.8x | 9.9x | |||
| $68M | $1M | 12.2x | - | 569.6x | - | |||
| $85M | ($43M) | 10.0x | - | (19.8x) | - | |||
| $523M | $90M | 1.4x | 1.3x | 8.0x | 16.2x | |||
| $587M | $225M | 2.6x | 2.6x | 6.9x | 6.6x | |||
| $281M | $29M | 2.7x | 2.5x | 25.7x | 20.5x | |||
| $1.7B | $113M | 0.6x | 0.5x | 8.3x | 7.8x | |||
| $10B | $363M | 0.3x | - | 10.0x | - | |||
This data is available for Pro users. Sign up to see all Hydrow competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hydrow
| When was Hydrow founded? | Hydrow was founded in 2017. |
| Where is Hydrow headquartered? | Hydrow is headquartered in Boston, MA, United States. |
| Is Hydrow publicly listed? | No, Hydrow is a private, VC-backed company. |
| What is Hydrow's valuation? | Hydrow was last valued at $857M in its undisclosed-stage round in August 2022. |
| How much funding has Hydrow raised? | Hydrow has raised $367M across 9 funding rounds. |
| What was Hydrow's last funding round? | Hydrow's last funding round was a $32M undisclosed-stage round in August 2022. |
| Who are Hydrow's investors? | Hydrow's investors include L Catterton, Rx3 Growth Partners, Castor Ventures, Sandbridge Capital, Constitution Capital Partners, Richard M. Cashin, Ethos Family Office, Liberty Street Funds, Whitney Cummings, Fabletics and 13 others. |
| Which companies are comparable to Hydrow? | Companies comparable to Hydrow include Daiichikosho, Huami, Strava, Hudle, OPKIX and Marcus. |
| How many companies has Hydrow acquired? | Hydrow has acquired 1 company, including Speede Fitness. |
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