This is the first acquisition for the unicorn fitness startup often referred to as “the new Apple of fitness.” Peloton was founded in 2012 and has so far raised a total of $444.7 million with a valuation of $1.25 billion as per 2017.
According to company representatives, the B2B music platform from Neurotic Media will be used to provide riders of Peloton’s stationary bike with a music experience as they pedal.
Neurotic Media’s founder Shachar “Shac” Oren will be promoted as a vice president at Peloton, while retaining his leadership role at Neurotic Media.
“We’re proud to join Peloton’s world-class team, and excited to help bring the kind of Member experience breakthroughs the brand is known for to their already powerful music solution,” Oren said in a statement. “Peloton’s platform, instructors and community present a rich environment for music ideation and innovation.”
Neurotic Media was established in 2005 and graduated from ATDC, the state tech incubator, in 2008. Initial investors in the company include ATDC and Seraph Group, an angel investor based in California, according to Pitchbook. Clients of the platform include Universe CD, Media Tree, Kaiser Permanente, Pringles, Wells Fargo and Walmart.