In an exciting turn of events, Tonal, the weight training platform known for its innovative approach to home fitness, has announced a series of strategic shifts. The company has secured $130 million in a new funding round, spearheaded by major investors including Cobalt, Dragoneer, Kindred Ventures, and THVC . Alongside this fresh injection of capital, the company has also undergone a significant change in leadership.
Krystal Zell, who has recently taken over as CEO from the company's founder, Aly Orady, is leading Tonal into its next phase. Having previously been Tonal's president, Zell has a deep understanding of the company's operations and objectives. Her previous role encompassed oversight of revenue, sales, marketing, product, and content. Zell, who brings to the table her expertise in e-commerce from a five-year stint as Home Depot's Chief Customer Officer, has shared her vision for Tonal's future:
"I think a big part of my role was just trying to figure it out as the market was shifting from a massive growth at all costs into a measured growth and path to profitability. The skills I was able to bring to the table are more about how to drive very disciplined, profitable growth."
While Tonal is committed to profitability, it is equally focused on value creation and customer satisfaction. To accomplish this, Zell is considering several strategic actions:
Part of Tonal's new strategic approach includes exploring additional brick and mortar options. The company currently has its system available in five stores, along with some Nordstrom locations. To maximise the value of these retail outlets, Tonal could consider leveraging the power of cutting-edge technology like Aura Vision.
With Aura Vision, Tonal can gain invaluable insights to drive better business decisions:
As Tonal embarks on this new path, it is poised to continue revolutionising the home fitness industry & to navigate the evolving market landscape and emerge as a leader in the home fitness sector. And with the help of technologies like Aura Vision, the company can fully leverage its retail presence, optimize operations, and provide an exceptional customer experience.
We look forward to witnessing the next stage of Tonal's journey and its continued impact on the fitness industry. Stay tuned for more updates as this exciting story unfolds.