Milestone Sports, LTD. (Milestone) has joined Zwift, LLC, after Zwift purchased the assets and assumed the Development team from Milestone Sports. 3-21 Capital acted as exclusive financial advisor to Milestone in this transaction. Zwift, who previously expanded their platform into running, will now incorporate the MilestonePod technology into its existing online fitness entertainment gaming platform.
“As Zwift continues to expand its running platform they saw great value in the MilestonePod and our team.” says Jason Kaplan, Co-Founder and CEO of Milestone Sports and now acting Director of Enabling Products & Business Development at Zwift. “Not only do the MilestonePods provide connectivity to Zwift on any treadmill, but they also provide the outdoor runner with important metrics such as foot strike and rate of impact along with run distance and duration. These are not only great tools that help to refine running technique, but also help provide runners with important information that can improve performance, reduce injury risk, and make sure they are in the proper shoe.”
“This is an important step for us as we move into the running space.” says Eric Min, Zwift Co-Founder and CEO. “We at Zwift aim to help more people to exercise more often than they may have done before, by bringing more entertainment and social connectivity to the convenience of indoor training. We are determined, as much as ever before, to continue work with existing footpod and treadmill manufacturers to help us achieve this goal by providing customers the best possible experiences to suit their individual training needs.”
Partner of Three Twenty-One Capital Partners, Tim Zahrobsky stated, “Zwift’s purchase of the assets of Milestone Sports was a logical step to expand their existing community of runners. Milestone’s runners are now able to enjoy the Zwift platform of exercise gamification. The addition of Milestone Sports development team to Zwift will allow for advancements to the Zwift technology platform and further product enhancements and extensions.”
Milestone Sports, LTD., based in Israel, with U.S. operations headquartered in Columbia, MD, designs, develops, and manufactures wearable fitness devices under the product name Milestone Pod. Milestone’s devices feature an integrated marketing and communications platform focused on runners and walkers. The device is worn on the shoelaces and synchs to a smart phone or smartwatch app providing important data that helps runners and walkers improve performance and reduce their risk of injury.
Zwift is a private company based in Long Beach, CA that offers an online fitness entertainment gaming platform that brings the outdoor cycling experience indoors. Its platform creates a destination which places users and their bikes into 3D landscapes with other cyclists worldwide by connecting to their existing devices, such as power meters, heart rate monitors, and speed-cadence sensors, as well as enables users to choose their trainers.
3-21 Capital looks forward to working in the wearables tech space with future engagements and offers free consultations to those parties in this industry wishing to learn more about their options.