By Matt Burns
Tonal is today announcing its series C financing that it hopes will allow the company to bring its at-home gym to even more homes. The funding round shows investors’ excitement around the new generation of personal exercise equipment that combines on-demand training with smart features. Tonal, like Peloton, offer features previously unavailable outside of gyms and with this injection of capital, the company expects to build new personal features and invest in marketing and retail experiences.
L Catterton’s Growth Fund led the $45 million series C round and included investments from Evolution Media, Shasta Ventures, Mayfield, Sapphire Sport, and others also participated. This financing round brings the total amount raised to $90 million.
Tonal is based out of San Francisco, CA and was founded by Aly Orady in 2015. The company launched its strength-training product in 2018. The wall-mounted Tonal uses electromagnetism to simulate and control weight, allowing the slender device to replicate (and replace) a lot of weight-lifting machines.
The Tonal machine costs $2,995, and for $49 a month, Tonal offers members access to personal training sessions, recommended programs and workouts. Since launching, CEO Orady tells TechCrunch there have been …read more
Source:: TechCrunch Gadgets
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