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The pandemic accelerated the shift to at-home exercise.
And connected fitness benefited, with companies in the space raising $1B+ this year.
If you're keeping tabs on the category, here are the companies vying to become the next Peloton.
A thread
And connected fitness benefited, with companies in the space raising $1B+ this year.
If you're keeping tabs on the category, here are the companies vying to become the next Peloton.
A thread
1/ Peloton
Valued at $35B, Peloton opened the industryâs eyes to the opportunity in connected fitness.
Since '16, $PTON grew revenue 100% YoY, $60M to $1.8B in 2020.
Now, everyone is bundling content and equipment. https://twitter.com/JoeVennare/status/1303120710492188673?s=20
Valued at $35B, Peloton opened the industryâs eyes to the opportunity in connected fitness.
Since '16, $PTON grew revenue 100% YoY, $60M to $1.8B in 2020.
Now, everyone is bundling content and equipment. https://twitter.com/JoeVennare/status/1303120710492188673?s=20
2/ ICON Health & Fitness
The at-home fitness OG is trying to resurrect an outdated brand.
NordicTrack & iFit parent co, ICON raised $200M in Oct, iFit added $200M in Dec.
⢠$7B valuation
⢠$1B revenue â19
⢠700K paid iFit subs
⢠Suing Peloton for patent infringement
The at-home fitness OG is trying to resurrect an outdated brand.
NordicTrack & iFit parent co, ICON raised $200M in Oct, iFit added $200M in Dec.
⢠$7B valuation
⢠$1B revenue â19
⢠700K paid iFit subs
⢠Suing Peloton for patent infringement
3/ Zwift
Not a connected fitness co, yet. Hardware is on the roadmap.
⢠2.5M registered users
⢠Added $450M @ $1B+ valuation
⢠$15/month subscription
⢠success w/virtual & esports-like events
The Metaverse of Fitness: https://insider.fitt.co/issue-no-90-the-metaverse-of-fitness/
Not a connected fitness co, yet. Hardware is on the roadmap.
⢠2.5M registered users
⢠Added $450M @ $1B+ valuation
⢠$15/month subscription
⢠success w/virtual & esports-like events
The Metaverse of Fitness: https://insider.fitt.co/issue-no-90-the-metaverse-of-fitness/
3/ Tonal
Focused on digital, at-home strength training, Tonal added $110M from L Catterton and athletes like Steph Curry in Sep ($200M total)
⢠LED screen
⢠electromagnetic weights
⢠AI sensors/trainer
@Fittinsider podcast w/Tonal CEO Ali Orady
https://insider.fitt.co/24-aly-orady-ceo-of-tonal/
Focused on digital, at-home strength training, Tonal added $110M from L Catterton and athletes like Steph Curry in Sep ($200M total)
⢠LED screen
⢠electromagnetic weights
⢠AI sensors/trainer
@Fittinsider podcast w/Tonal CEO Ali Orady
https://insider.fitt.co/24-aly-orady-ceo-of-tonal/
4/ Mirror
Acquired by lululemon for $500M, Mirror is now a piece in luluâs retail & community puzzle.
On pace to bring in $150M in revenue this year, the sleek LED screen/content combo will soon be for sale in select lulu stores.
Why Mirror Sold: https://insider.fitt.co/issue-no-87-why-mirror-sold/
Acquired by lululemon for $500M, Mirror is now a piece in luluâs retail & community puzzle.
On pace to bring in $150M in revenue this year, the sleek LED screen/content combo will soon be for sale in select lulu stores.
Why Mirror Sold: https://insider.fitt.co/issue-no-87-why-mirror-sold/
5/ Tempo
With $60M in new funding from @gcvp, Tempo is eyeing growth.
Itâs 3D-enabled, AI-driven strength training, HIIT, and cardio system promises form-tracking and real-time feedback.
@fittinsider podcast w/Tempo CTO Josh Augustine
https://insider.fitt.co/47-josh-augustin-cto-of-tempo/
With $60M in new funding from @gcvp, Tempo is eyeing growth.
Itâs 3D-enabled, AI-driven strength training, HIIT, and cardio system promises form-tracking and real-time feedback.
@fittinsider podcast w/Tempo CTO Josh Augustine
https://insider.fitt.co/47-josh-augustin-cto-of-tempo/
6/ Hydrow
Billed as the Live Outdoor Reality (LOR) rower, Hydrowâs workouts offer a live, on-river experiences led by pro rowers.
In June, Hydrow added $25M ($52M total) in funding led by L Catterton.
@fittinsider podcast w/Hydrow CEO Bruce Smith
https://insider.fitt.co/1-bruce-smith-ceo-of-hydrow/
Billed as the Live Outdoor Reality (LOR) rower, Hydrowâs workouts offer a live, on-river experiences led by pro rowers.
In June, Hydrow added $25M ($52M total) in funding led by L Catterton.
@fittinsider podcast w/Hydrow CEO Bruce Smith
https://insider.fitt.co/1-bruce-smith-ceo-of-hydrow/
7/ SoulCycle
Hoping to go beyond the studio, Soul announced its home bike last year.
After a few delays, including quite the controversy (see below), its so-called âPeloton killerâ started shipping nationwide last week.
At-home controversy: https://us15.campaign-archive.com/?u=4c6bc12e271bc681951ed945a&id=57bc366715
Hoping to go beyond the studio, Soul announced its home bike last year.
After a few delays, including quite the controversy (see below), its so-called âPeloton killerâ started shipping nationwide last week.
At-home controversy: https://us15.campaign-archive.com/?u=4c6bc12e271bc681951ed945a&id=57bc366715
8/ Echelon
Backed by North Castle Partners, Echelon recently had the âPrime Bikeâ mix up w/Amazon.
A cheaper Peloton, Echelon offers a bike, treadmill, rower, "mirror" & content.
@fittinsider podcast w/North Castleâs Jon Canarack talking Echelon
https://insider.fitt.co/22-jon-canarick-managing-director-north-castle-partners/
Backed by North Castle Partners, Echelon recently had the âPrime Bikeâ mix up w/Amazon.
A cheaper Peloton, Echelon offers a bike, treadmill, rower, "mirror" & content.
@fittinsider podcast w/North Castleâs Jon Canarack talking Echelon
https://insider.fitt.co/22-jon-canarick-managing-director-north-castle-partners/
9/ FightCamp
Bringing boxing home, FightCamp offers a punching bag & mitts equipped w/punch-tracking sensors.
The $39/month subscription grants access to live-streamed and pre-recorded workouts.
@fittinsider podcast w/ FightCamp CEO Khalil Zahar
https://insider.fitt.co/7-khalil-zahar-co-founder-ceo-of-fightcamp/
Bringing boxing home, FightCamp offers a punching bag & mitts equipped w/punch-tracking sensors.
The $39/month subscription grants access to live-streamed and pre-recorded workouts.
@fittinsider podcast w/ FightCamp CEO Khalil Zahar
https://insider.fitt.co/7-khalil-zahar-co-founder-ceo-of-fightcamp/
10/ Ergatta
A gaming-inspired connected rower, Ergatta was built in collaboration w/WaterRower â simulating rowing on the water.
In July, the company added $5M in funding.
A gaming-inspired connected rower, Ergatta was built in collaboration w/WaterRower â simulating rowing on the water.
In July, the company added $5M in funding.
11/ Studio
Aiming to be the smart hub for your home gym, Studio offers an immersive screen that connects to all your home gym equipment.
Backed by Huami and LifeFitness, Studio is worth watching.
@fittinsider podcast w/Studio CEO Jason Baptiste
https://insider.fitt.co/51-jason-baptiste-ceo-of-studio/
Aiming to be the smart hub for your home gym, Studio offers an immersive screen that connects to all your home gym equipment.
Backed by Huami and LifeFitness, Studio is worth watching.
@fittinsider podcast w/Studio CEO Jason Baptiste
https://insider.fitt.co/51-jason-baptiste-ceo-of-studio/
12/ JAXJOX
Makers of a smart home gym, JAXJOX recently raised $10M in funding.
The all-in-one studio includes:
⢠43â rotating screen
⢠145# adjustable free weights
⢠connected kettlebell
⢠$2,199 w/$39mo content sub
Makers of a smart home gym, JAXJOX recently raised $10M in funding.
The all-in-one studio includes:
⢠43â rotating screen
⢠145# adjustable free weights
⢠connected kettlebell
⢠$2,199 w/$39mo content sub
13/ FORME Life
Combining a Mirror-like display with the strength training elements of Tonal, FORME hopes to bridge the gap between strength training and boutique fitness.
Trent Ward, CEO of FORME Life, on the @Fittinsider podcast
https://insider.fitt.co/30-trent-ward-ceo-of-forme-life/
Combining a Mirror-like display with the strength training elements of Tonal, FORME hopes to bridge the gap between strength training and boutique fitness.
Trent Ward, CEO of FORME Life, on the @Fittinsider podcast
https://insider.fitt.co/30-trent-ward-ceo-of-forme-life/
13/ Everyone wants a piece of the connected fitness pie.
Keep an eye on:
⢠MYX: similar to Echelon
⢠Liteboxer: DDR for home boxing
⢠Carbon Trainer: Mirror meets CrossFit
⢠Volava: Spainâs Peloton
⢠Technogym: commercial equipment pro prioritizing connected fitness
Keep an eye on:
⢠MYX: similar to Echelon
⢠Liteboxer: DDR for home boxing
⢠Carbon Trainer: Mirror meets CrossFit
⢠Volava: Spainâs Peloton
⢠Technogym: commercial equipment pro prioritizing connected fitness
14/ For more on the business of fitness and wellness:
⢠Follow me
⢠Check out the @Fittinsider podcast
⢠Subscribe to our weekly newsletter
https://insider.fitt.co/
⢠Follow me
⢠Check out the @Fittinsider podcast
⢠Subscribe to our weekly newsletter
https://insider.fitt.co/
