NEW YORK — MIRROR, which sells an in-home fitness video screen, has secured $34 million in Series B-1 financing led by Point72 Ventures. Other participants in the round include lululemon; supermodel, entrepreneur and philanthropist Karlie Kloss; Kevin Huvane, founder of Creative Artists Agency; Steve Lockshin, accomplished angel investor; media investors, LionTree LLC; as well as return investors, Spark Capital, and Lerer Hippeau. This brings MIRROR’s funding to date to $72 million.
Along with this investment, Point72 chairman and chief executive officer Steven Cohen will join MIRROR’s board of directors.
MIRROR is looking to capitalize on in-home fitness like Peloton with cutting-edge hardware and software to provide a personalized workout experience. MIRROR first launched in September 2018 and there are now MIRRORS in homes in every state within the continental U.S. The company also expanded its footprint with the opening of its brick-and-mortar store in New York City, giving people a unique interactive experience.
The MIRROR device starts at $1,495 and requires a $39 per month subscription membership to participate in live and on-demand fitness workouts.
Recently, MIRROR announced a partnership with fitness pioneer, Tracy Anderson, to continue bringing its fitness content to people nationwide. MIRROR says it will use the new funding to continue growth and expand into new areas and content verticals.
“We’re thrilled to welcome new investors like Steve Cohen, Karlie Kloss and Kevin Huvane to the MIRROR family. Their support and vision for our growth will be instrumental in allowing us to develop groundbreaking content and reach more people where it’s most convenient,” said Brynn Putnam, founder and CEO of MIRROR. “It’s particularly gratifying to be involved with lululemon again. I first worked with them almost a decade ago as an Ambassador and have long admired their exceptional team, as well as their vibrant community. There are significant synergies between our brands and I’m excited for the opportunity to innovate together.”