Ergatta

Ergatta is an indoor rower that features personalized challenges and competitive games to deliver a full-body workout at home. The device features Ergatta connected users allowing for virtual head-to-head races. Ergatta was available for pre-order starting in January 2020 and began shipping orders in March 2020. The rowing machine is priced at USD 2,199 and charges a monthly subscription of USD 29 for its content library. As of February 2021, the company reported USD 2.5 million in monthly recurring revenue. Ergatta reportedly had around 10,000 active users as of April 2021. At the time, the company revealed plans to grow its memberships by 2-3x with a high retention rate target over the next six months.

In April 2021, Ergatta raised USD 30 million in a Series A funding round at a valuation of USD 200 million, bringing total funds raised to date up to USD 35 million. The round was led by Advance Venture Partners, with participation from Greycroft, Fifth Wall, Gaingels, and Hans Tung (GGV Capital). The money will help Ergatta expand its team, continue research and development (R&D) of its gamified offerings, and scale its supply chain to meet rising demand.