Tonal Raises $45 Million From L Catterton, Serena Williams

SAN FRANCISCO — Tonal, which sells a fitness system with video screen you can attach to your wall, has raised a $45 million Series C fundraising round led by the Growth Fund of private equity firm L Catterton. Also participating were new investors Evolution Media and support from existing investors Shasta Ventures, Mayfield, Sapphire Ventures, and tennis star Serena Williams via Serena Ventures. This round will bring the total capital raised to $90 million.

Tonal is disrupting the connected-fitness category by establishing the only on-demand personalized strength-training system, and the recent funding will fuel the company’s growth after its recent expansion of delivery to all 48 contiguous states. “There is nothing like Tonal on the market today. We are the first AI-powered connected strength company,” said Aly Orady, Founder and CEO of Tonal. “Our mission is to create the first truly personalized fitness concept by delivering smart on-demand video guidance, actionable data and real-time feedback through one beautiful product in the comfort of your own home. We want to make everyone stronger and healthier.”

Tonal uses intelligent technology, expert coaching, and personalized guidance to help any Tonal member be his or her strongest. It’s like having an entire gym and personal trainer in your home. The system’s electromagnetic resistance creates digital weight, which allows people to do every leg, arm, shoulder, back, core, and chest exercise with one compact piece of equipment. Tonal monitors the quality of every rep, adapts guidance, and measures your progress in real-time to take the guesswork out of strength training. It’s the first fitness system to offer the kind of personalized, science-based training that’s typically reserved for professional athletes and celebrities.

The Tonal exercise system costs $2,995 plus a $49 monthly subscription fee which includes video coaching filmed from the company’s San Francisco studio.

“As the fitness landscape continues to evolve, we have seen a clear shift toward personalized, content-driven, at-home workout experiences,” said Scott Dahnke, Global Co-CEO of L Catterton. “Tonal is the first connected fitness brand focused on strength training and represents an opportunity to invest behind an innovative concept with tremendous growth potential. We look forward to leveraging our deep knowledge of consumer behavior and significant experience in the connected fitness space to bring Tonal’s dynamic technology and content platform to more homes across the country.”

“There’s nothing more important in life than health, and the most exciting aspect of my investment in Tonal was not just the opportunity to help grow the next great connected fitness brand, but the opportunity to help people get stronger, healthier and live better lives,” said Serena Williams, Serena Ventures.

This capital will position Tonal to further invest in its supply chain, distribution, and AI talent as well as in recruiting and operational efforts, focusing on the following key areas:

  • Personalized Software Experiences: Tonal will continue its efforts to pioneer its intelligent digital strength technology and is developing new personalized software experiences that motivate, provide real-time feedback, and track progress over time to help users achieve their fitness goals.
  • New Content Modalities: Tonal will expand its video content platform to include new workout categories and additional fitness experiences.
  • Retail & Marketing Investment: Tonal will further increase sales and marketing activities nationwide by amplifying Tonal’s message through retail and pop-up events.
  • Recruiting & Operations Expansion: Tonal will make investments in key new team member hires, including top-tier AI engineering, programming, and cloud computing talent in order to build on Tonal’s team of more than 100 engineers, coaches, product-development experts, operations, and marketing specialists.
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