Home fitness startups are getting buff
The Hustle

Home fitness startups are getting buff

The pandemic was the perfect opportunity for connected fitness companies to shine -- and they’re shining, all right.


April 21, 2021

For home fitness, the timing of a pandemic couldn’t have been more perfect.

Pioneered by Peloton, on-demand home exercise was already popular pre world-falling-apart — the space raised $1.8B in 2019.

But come 2020, home exercise startups have grown from a somewhat scrawny bunch into a squad whose muscles have muscles — the space raised $3B last year.

2021 is looking to get even bigger

Tonal, a weights-on-a-wall startup whose revenue grew 8x in 2020, recently closed a $250m funding round. The company is also partnering with the Mayo Clinic for physical therapy trials, as well as with hotels and resorts.

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Tempo, which is like Peloton for free weights, raised $220m led by SoftBank. Sales have jumped 1,000% since pre-orders began in 2020, and users have collectively done 5m workouts on the platform.

Today, it seems, there’s a Peloton for everything

Tonal and Tempo occupy the home weights arena, but startups are operating in a variety of other sports, too:

Bottom line: For homebody athletes, it’s quite a time to be alive. Unless you’re Joe Biden, that is, who couldn’t bring his Peloton to the White House for security reasons (Peloton offered a customized bike but no word if it came).

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