Tonal will be leveraging its funds for scaling up its content and marketing endeavors, while expanding its operations and business activities through investments in better logistics, manpower, and production, with a view towards swiftly catering to sudden requirements/demand. Tonal saw skyrocketing growth throughout 2020, with sales figures increasing by eight times. It also had the best-ever retention and engagement figures throughout 2020. The company has also confirmed a national tie-up throughout 40+ locations with Nordstrom, scaling up its retail presence to more than 60 distribution points. It has lower than 90% of market share in the connected strength training category at present, and the NPS (Net Promoter Score) has been more than 80 on a consistent basis.

Tonal is already expanding its market leadership in this segment. The CEO at Tonal, Aly Orady, stated that the company has achieved swift growth throughout 2020 and this clearly underlines the transformation afoot in the fitness industry. He added that the new capital will help the company in terms of innovating more and showing the world how intelligent and new-age fitness solutions are the need of the hour. These solutions will completely revolutionize the way we workout, train, and develop our health/fitness according to him.

The company will be using its funds for expanding its investment activities throughout content and products. It will also expand overall operations, getting more people on the platform. Partner at Dragoneer, Jared Middleman, stated that the world has fundamentally evolved over the last year. People are seeing how fitness will look like in the future. It will be more customized and connected by nature, along with being driven mainly through content. It will be at their fingertips, and at their homes. He added that people can enjoy better workouts with cutting-edge hardware and compelling content. He added that this has already led to a lot of support and appreciation from customers. The product-related experience is already improving rapidly with the vision of the team and its pursuit of excellence, according to Middleman.

Tonal has already added several big names to its roster of investors who are professional athletes. They include Maria Sharapova, Drew Brees, Mike Tyson, Larry Fitzgerald, and many others. Jack Lazar and Nina Richardson have also joined its board of directors recently.

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