Mercom Capital Group April 1, 2021
Dragoneer led the Series E funding round
Tonal, a connected home fitness system, raised $250 million in the latest funding round, valuing the company at $1.6 billion.
Tonal has raised over $450 million to date. According to the company, the capital will further accelerate marketing and content initiatives while scaling the business and operations by investing in people, logistics, and manufacturing to meet its unprecedented demand more quickly.
The Series E round was led by Dragoneer, a growth-oriented investment firm, with participation from Cobalt Capital, new athlete investors, and existing investors, including L Catterton and Sapphire Ventures.
Tonal recently announced a nationwide partnership with Nordstrom across 40 locations, expanding its retail footprint to 60 points of distribution. With over 90%...
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