Global fitness equipment market It exceeded $ 10 trillion in 2020 and is expected to reach $ 25 trillion by 2027, according to Global Market Insights. The growing segment is a team that connects smart devices via the high-speed Internet and analyzes, stores and collects data from anywhere, gaining popularity among athletes and fitness enthusiasts.
Tonal is a smart home gym that uses artificial intelligence and training to provide strength training that continues to innovate in the category. Just as Tesla revolutionized the electric car by combining software and hardware, Tonal has created a “smart” electronic weight resistance system that uses AI, a unified feedback to create personalized performance in real time, combined with individual experts. coach.
Founded in 2015 by Aly Orady, Tonal is experiencing explosive growth with great customer satisfaction and the help of great professional athletes who don’t support a system like Steph Curry, Serena Williams, Maria Sharapova, Michelle Wie, Sue Bird and Drew Brees. for their own use but invested in the company. With the latest $ 250 million E-financing led by Dragoneer Investment Group, with the total funding behind the company at $ 450 million, the company currently has a value of $ 1.6 billion. Other investors are Cobalt Capital and Sapphire Sport.
While the smart fitness equipment market is booming, Orady is not uncommon for most entrepreneurs in the category. At the age of 7, he started doing coding and at the age of 10, he was building and selling computers at a family home in Toronto, Canada. He graduated from high school at age 15 and college at age 19. He then moved to Silicon Valley to pursue his first supercomputer career with roles in HP, Sun Microsystems and Samsung.
“I started my career in superchargers, I spent most of my career building business infrastructure: servers, storage arrays and wireless equipment that you link to cell towers. Before tonality I never designed anything to lift myself without a forklift. But when I was 35 my health was just a total disaster. “I was overweight and I was very young. I had two types of diabetes and sleep apnea,” says Orady.
He left work and spent the next 9 months healthy, lost 70 pounds in the process and was fit to train in fitness and nutrition and especially strength training. “One morning at 6:00 am I was sitting on the bench in the gym looking at this giant cable cross machine. And I was thinking to myself, I wish I could figure out how to get into a one-bedroom apartment. If I could create a machine to work with the weight that works with electricity and a machine to work with strength, I could cut it down and get it into my house, at the same time I could become smart, ”says Orady.
According to Orady, it all started at that moment, when he realized that if you can build a digital and electronic strength machine, you can create the equivalent of a personal trainer and bring that home. The individual aspect of the tonal is a key point in distinguishing it from other smart fitness equipment, as most other companies in the connected fitness industry are trying to recreate the group fitness experience found in a gym. He mentions various things like Orange Theory to bring bikes like Soul Cycle home and bootcamps home with tape lists or connected rowers. “The team’s season was never our goal. Our goal was personal training, ”says Orady.
According to Orady, on average its members are 25% stronger in the first 90 days. It is a feedback mechanism that provides a powerful incentive for users to continuously improve the data generated when using Tonal. He says his regular partner is the same profile as a person he would consider a personal trainer, which is too expensive or uncomfortable for many people. “What we’ve been able to do is democratize access to personal training in a democratic way, with the convenience of being available at any time,” says Orady.
Today, the San Francisco-based company has 300 employees and 50 distribution points beyond its e-commerce presence, which could be a partnership with Nordstrom with 40 partners to demonstrate the Tonal system to potential members. Orady wants to expand its market to fitness applications above fitness enthusiasts and has conducted a clinical trial with the Mayo Clinic.
Orady wants to combine its history for entrepreneurship with a passion for health and fitness to keep the company growing. And although the company’s growth trajectories and high valuations have been pointed out to the IPO at some point in the near future, no schedule has been given since this writing.
“I hope to do all of this in my lifetime,” Orady concluded.