# Tonal Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tonal-systems

- Industry: Consumer Products
- Headquarters: San Francisco, US
- Website: www.tonal.com
- Total disclosed funding: $370M
- Latest round: Series D (Mar 19, 2021)
- Investors on record: 12

## About

Based in the US, Tonal Systems, Inc. operates an innovative at-home strength training platform that combines smart technology with personalized coaching to elevate workout effectiveness and user engagement.Tonal Systems, Inc. specializes in providing a digital strength training solution. Founded in 2015 in San Francisco, US, the company has undergone several strategic developments, including the launch of its flagship product, Tonal 2. The founders include Alex Lasarenko, Aly Orady, and Nate Bosshard, with Aly Orady currently serving as CEO. Tonal has successfully raised a total of USD 130.00 mn in funding across various rounds, with the latest funding round bringing in USD 130.00 mn from investors such as Cobalt Capital, Dragoneer Investment Group, Kindred Ventures, L Catterton, and Transformational Healthcare Venture Capital.Tonal specializes in providing an innovative at-home strength training system that integrates smart technology with personalized coaching to enhance workout efficiency and effectiveness. Its flagship product, Tonal 2, employs advanced digital weight training technology that automatically adjusts resistance levels based on the user's strength, allowing for incremental increases of as little as one pound. This system aims to solve common barriers to strength training, such as lack of motivation and accessibility, by offering a personal trainer experience on demand, right in the consumer's home. Tonal's customer base primarily includes fitness enthusiasts and individuals seeking to improve their strength training regimes without the need for traditional gym equipment. The company predominantly targets markets in North America and Europe, catering to consumers looking for a comprehensive, technology-driven fitness solution.Tonal operates on a subscription model, with customers committing to a 12-month membership priced at USD 59.95 per month, which includes applicable sales tax. The business structure primarily focuses on direct-to-consumer sales of its equipment and associated subscription services, providing users with access to a library of workouts, personalized training guidance, and progress tracking through its smart technology platform. Customers purchase the Tonal 2 unit upfront, forming a significant portion of the initial revenue, followed by recurring subscription payments for ongoing access to training programs and features. This subscription-based approach ensures a steady revenue stream as users engage with the comprehensive suite of services designed to optimize their fitness journeys.Tonal Systems, Inc. plans to leverage recent funding to enhance product offerings and expand into new markets. The company is developing new features for Tonal 2 and aims to release updates in the upcoming quarters. Furthermore, Tonal intends to extend its reach in international markets, specifically targeting regions in Europe and Asia by the end of 2024. The funding raised from the recent venture capital round will support these initiatives, driving product innovation and market expansion.

## Funding rounds

- Series D, Mar 19, 2021, $250M — L Catterton, Sapphire Ventures, Dragoneer Investment Group, Cobalt Capital
- Series C, Sep 17, 2020, $75M — L Catterton, Mayfield Fund, Shasta Ventures, Sapphire Ventures, Delta-v Capital, Evolution Media Capital, Mousse Partners, Amazon, THVC
- Series C, Apr 4, 2019, $45M — L Catterton, Mayfield Fund, Shasta Ventures, Sapphire Ventures, Serena, Cobalt Capital

## Investors

- L Catterton (https://capitalatlas.ai/funds/l-catterton) — Series C, Series D
- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series C
- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Series C
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series C, Series D
- Serena (https://capitalatlas.ai/funds/serena) — Series C
- Cobalt Capital (https://capitalatlas.ai/funds/cobalt-capital) — Series C, Series D
- Delta-v Capital (https://capitalatlas.ai/funds/delta-v-capital) — Series C
- Evolution Media Capital — Series C
- Mousse Partners — Series C
- Amazon (https://capitalatlas.ai/funds/amazon) — Series C
- THVC (https://capitalatlas.ai/funds/thvc) — Series C
- Dragoneer Investment Group (https://capitalatlas.ai/funds/dragoneer-investment-group) — Series D