Tonal

Tonal introduced a smart home exercise system, which comprises a 24-inch screen with two mechanical arms on the sides that allow users to perform weight-based strength exercises such as deadlifts, bench presses, and squats. Besides strength training, users can use Tonal to take up other classes like yoga, cardio, high-intensity interval training (HIIT), either live or on demand. The device can generate resistance equal to a weight of 200 lbs, allowing users to still train effectively without compromising on the weight. Tonal’s AI program permits users to adjust the weight when users need assistance. The patented weight system dynamically changes resistance down to the millisecond and increases or decreases weight according to user performance. To enable these features, the system offers multiple settings, such as Smart Flex (dynamic variable resistance), Eccentric (optimizes time under tension), Chains (steadily increases weight at the top of every move), Spotter (detects fatigue and automatically reduces weight), and Burnout (decreases weight gradually with each set completed).

Tonal is priced at USD 2,995 with on-demand and live classes available for USD 49 per month. 

Key customers and partnerships 

In November 2023, Tonal partnered with Best Buy , a consumer electronics retail platform, to support retail distribution of Tonal’s smart mirrors across the US. In March 2021, Tonal partnered with department store chain Nordstrom to enhance its physical footprint with mini outlets inside 40 Nordstrom locations across 20 states, bringing its total store count to around 55 stores—up from 15.

Funding and financials

Tonal witnessed a more than 8x year-over-year (YoY) increase in sales in 2020, resulting in delivery lags of 10–12 weeks. The company is reportedly addressing the issue by ramping up production, recruiting new employees, and air-shipping the equipment.

In September 2022, Tonal announced that it was looking to raise USD 100 million in funding at a post-money valuation of USD 1.9 billion, to support its business growth amid supply chain constraints. In March 2021, the company raised USD 250 million in a Series E funding round at a valuation of USD 1.6 billion, achieving unicorn status. The company planned to utilize the funds for marketing, to expand its fitness classes, and to scale the business further to cater to the rising demand. 

The company also hinted at a potential IPO, but a specific timeline and additional details were not disclosed at the time of the funding round. Tonal also has 30+ athlete investors and brand ambassadors, including LeBron James , Serena Williams, Stephen Curry, Klay Thompson, Tony Gonzalez, Drew Brees, and Maria Sharapova (as of October 2021).