Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital.

The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.

Founded in 2012, Peloton sells a high-tech and high-cost ($1,995) exercise bike that allows home users to have, essentially, the same type of experience that they would have at a spinning class. It does so by selling a subscription service that gives the user access to live and on-demand fitness group classes (along with archived ones) led by elite cycling instructors. It also provides performance tracking metrics and a real-time leaderboard designed to motivate…