US-based smart home fitness technology provider Tonal has raised $45m in a series C round featuring Evolution Media, the joint venture between talent agency Creative Artists Agency and growth equity fund TPG Growth.
Private equity firm L Catterton led the round, which included venture capital firms Shasta Ventures, Sapphire Ventures and Mayfield Fund, and Serena Ventures, the VC vehicle for tennis professional Serena Williams. It increased the company’s overall funding to $90m, it said.
Founded in 2015, Tonal has developed a wall-mounted weightlifting machine that combines an interactive LED screen with electromagnetic weights and cables.
The system provides video instructions and uses machine learning technology to automatically measure a user’s progress and adjust the volume, sets, repetitions and workload as they progress.
Tonal plans to put the funding toward hiring artificial intelligence engineers, programmers and cloud computing experts, as well as increase its sales and marketing activities. The capital will also be used to add new workout categories and bolster its supply chain and distribution operations.
Aly Orady, founder and chief executive of Tonal, said: “Our mission is to create the first truly personalised fitness concept by delivering smart on-demand video guidance, actionable data and real-time feedback through one beautiful product in the comfort of your own home.”
The company has not disclosed details of any previous funding, though Mayfield, Shasta, Sapphire and Serena Ventures had been identified as investors prior to the series C round, along with Bolt Capital, Next Play Capital and Upside Partnership according to TechCrunch.