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Illustration: Sarah Grillo/Axios

ICON, a Utah-based connected fitness company whose brands include NordicTrack, raised $200 million in growth equity funding at a valuation north of $7 billion. L Catterton led, and was joined by Pamplona Capital Management.

Why it matters: L Catterton previously backed rival Peloton, holding a 5.4% stake at the time of IPO (it since appears to have divested).

Between the lines: A source familiar with L Catterton's thinking says that the firm doesn't view the two companies as direct competitors because ICON has a broader product portfolio — particularly in terms of price points — although Peloton seems to disagree, having recently sued ICON for patent infringement.

The bottom line: "The owner of NordicTrack, ProForm and Freemotion brands, which also operates the on-demand streaming platform iFit, is profitable and posted revenue of more than $1 billion in the 12 months through September, the company said Monday. The latest round ... is a precursor to a potential initial public offering within the next year." — Gillian Tan, Bloomberg

Go deeper

Focus group: Former Trump voters say he should never hold office again

Illustration: Sarah Grillo/Axios

"Relief" is the top emotion some swing voters who used to support Donald Trump say they felt as they watched President Biden's swearing-in, followed by "hope."

Why it matters: For voters on the bubble between parties, this moment is less about excitement for Biden or liberal politics than exhaustion and disgust with Trump and a craving for national healing. Most said Trump should be prohibited from ever holding office again.

Updated 12 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.