The list of investors for CLMBR — the connected climbing machine and workout class company — is turning into a who’s who of top athletes, artists, and entrepreneurs.
CLMBR closed on a $13.5 million funding round last month that included investments from tennis star Novak Djokovic, YouTube co-founder Chad Hurley, and music artists Pitbull and Jay-Z, according to The Denver Post.
The company will use the funding to double its staff and invest in inventory and technology. It will also open a new headquarters in Denver.
After hitting the market in April 2020 with a $2,499 price tag, CLMBR is now sold to both consumers and commercial gyms. It faces stiff competition in a $10.7 billion home fitness market that’s surged due to the pandemic.
- Ergatta, a connected rowing company that gamifies workouts, raised $30 million at a $200 million valuation in April.
- Tonal, a wall-mounted system, raised $250 million in March with contributions from Drew Brees, Sue Bird, and Mike Tyson.
- Home fitness startup Tempo raised $220 million in April and has more than tripled its $250 million valuation from last June.
Jay-Z appears to be particularly fond of the space. The Grammy-winning rapper and business mogul also invested in LIT Method, a low-impact training system, back in April through his VC firm Marcy Venture Partners.