Tonal, an intelligent home gym system, has been experiencing a quick rise in its business as one of the leading home workout equipment amid the COVID-19 pandemic. Its newest funding reached $250 million USD at a $1.6 billion USD valuation for its Series E, bringing its total funding up to $450 million USD.
For those who aren’t familiar with Tonal, the system is a “personal training platform that combines proprietary digital weight, artificial intelligence and expert-led coaching” — strength training through intelligent fitness. Series E is its latest product venture. Part of Tonal’s new funding involves investments from notable athletes, like Drew Brees, Larry Fitzgerald, Maria Sharapova, Mike Tyson and Sue Bird, to name a few, joining a lineup of other significant investors.
Tonal plans to “further accelerate marketing and content initiatives, while scaling the business and operations by investing in people, logistics and manufacturing” with its new capital. Speaking on Tonal’s growth, CEO Aly Orady notes, “our growth over the last year underscores the changing fitness landscape. People want smarter, more connected ways to work out. We plan to use this funding to further our investments in product and content and scale our operations so that we can get more Tonals to more people faster.”
In case you missed it, here’s a look at a home gym solution called PIVOT Bed.