British Cycling has received another £37m in lottery funding from UK Sport, in addition to the £32m awarded to them for grassroots development yesterday by Sport England.
The UK Sport money is specifically to fund elite cycling through until the Rio Olympic Games in 2016.
BC Chief Executive Ian Drake welcomed the news, saying "Today’s announcement from UK Sport is recognition of the success of our riders, our coaches and the work we put into identifying new talent. It is also a challenge for us to do better over the next four years – particularly in para-cycling where we have received substantially increased funding.
"In 2012 we have seen unprecedented results for British cyclists but there is still work to be done to improve the sport in this country."
British Cycling's highlights this year included winning eight gold, two silver and two bronze medals at the Olympics and eight gold, nine silver and five bronzes at the Paralympics, not forgetting Bradley Wiggins' win in the Tour de France. In addition, British cyclists have won 24 world championships over the past four years, including Mark Cavendish's 2011 road world title. Cavendish and Wiggins have been named BBC Sports Personalities of the Year in 2011 and 2012, while BC Performance Director Dave Brailsford has won Coach of the Year twice.