• Loading stock data...
Tuesday, October 21, 2025

Tonal Raises $130M After Big Value Drop

  • Tonal raised $130 million at a reported valuation of between $550-600 million.
  • It has now raised more than its current valuation.
Someone working out with a Tonal machine.
Tonal

Tonal is breaking a sweat trying to keep up its pace.

The high-end at-home fitness company announced $130 million in new funding and a change of leadership.

The funding round valued the company between $550 million and $600 million, according to the Wall Street Journal — a steep drop from its $1.6 billion valuation in 2021.

That puts Tonal in the peculiar position of having raised more money — $615 million total — than its current valuation.

The company sells $3,995 workout stations that let users connect virtually to a personal trainer for a monthly fee. Demand surged during the pandemic but has since cooled off, a situation exacerbated by supply chain challenges.

tonal home gym

Tonal’s Valuation Could Drop to $500M As Connected Fitness Fades

Tonal’s valuation peaked at $1.9 billion in September behind a $100 million…
February 15, 2023

Tonal previously explored a sale to Peloton that didn’t materialize in part because the latter is facing its own cash flow problems. Peloton’s stock is down 92.7% since the start of 2021.

Tonal’s investors include private equity firms L Catterton and Dragoneer Investment Group, as well as athletes such as LeBron James, Serena Williams, Mike Tyson, and Drew Brees. The two firms led the most recent round, along with Cobalt, Kindred Ventures, and THVC.

The cash infusion also came with a leadership change: Tonal’s president, Krystal Zell, is becoming its CEO, replacing Aly Orady, who is shifting to its Chief Technology Officer.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The South Milwaukee Planet Fitness at 2901 S. Chicago Ave. will relocate to Oak Creek in summer.

‘People Want to Go to the Gym’: Why Fitness M&A Is Surging..

The fitness and gym industry has had strong deal activity in the first half of the year.

More Dildo Throwing During WNBA Games Leads to Second Arrest

The 18-year-old threw a dildo that hit another fan and his young niece.

Smelling Salts Not Banned in the NFL, but Teams Can’t Hand Them..

Teams are banned from supplying smelling salts to their players.

Featured Today

Christie's

Lou Gehrig’s $4M Jersey and the Exploding Sports Memorabilia Market

An ultra-rare sports collection is about to hit the auction block.
@chef__tezz/Instagram
October 19, 2025

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
Sponsored

Trailblazer Cal Calamia Is Racing for ‘Advocacy, Storytelling, and Performance’

The marathoner wants excellence—not just inclusion—to be the goal for non-binary athletes.
Sponsored

‘Run With the Competition’: Ultra Trail Runner Lotti Brinks Is Back With..

Ultrarunner Lotti Brinks is ready to make her first Courmayeur-Champex-Chamonix podium in her HOKA Mafate 5s.
Sponsored

Top Esports Athletes Will Compete for National Glory in the Esports Nations..

The new biennial event, starting in 2026, kicks off a monumental next era for esports.
Sponsored

Michelle Wie West: Women’s Sports Doesn’t Need Charity

The LPGA legend on redefining women’s sports and the future of golf.
Sponsored

Win. Advance. Repeat: The Professional Fighters League’s Rise to Prominence 

As of 2025, PFL has introduced a World Tournament format, where every fighter must battle through a high-stakes bracket to reach a championship.
The 2018 Ragin' Crossfit Games are held at Blackham Coliseum in Lafayette.
March 14, 2025

CrossFit for Sale After Years of Drama and Attrition

The intense fitness workout got popular in the early 2000s.
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.