Tonal — a startup sometimes referred to as the Peloton of at-home strength training — has raised a fresh $110 million of funding to boost its expansion in the crowded home fitness space. And before you ask: Its CEO isn’t worried competition from Apple’s newly announced fitness service.
Tonal, whose product mounts to the wall like a flat screen television and uses “digital weights” where the resistance is personalized, announced Thursday new financing for marketing initiatives and scaling its supply chain and logistics to meet demand. With the new funding, the company has raised $200 million to date and said its current valuation is more than $500 million.
Investors in the round include L Catterton, a private equity firm which has backed a range of consumer startups, as well as the Amazon’s Alexa Fund and several athletes, including Stephen Curry of the Golden State Warriors.