Tonal hits $1.6B valuation in new $250M round
April 1, 2021- Share:
Home workout startup Tonal has landed $250 million in new financing at a $1.6 billion valuation. Dragoneer Investment Group led the Series E, with support from Cobalt Capital, L Catterton and Sapphire Ventures, as well as athletes like Drew Brees and Maria Sharapova. Tonal's system combines digital weights with a screen, providing instructor-led workouts that can be completed at home. The San Francisco-based company's sales grew by more than eightfold in 2020, echoing the breakout growth fitness powerhouse Peloton experienced during the pandemic.
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