Tonal Gets New Funding and a CEO

Retail
Written By Rick Watson

San Francisco-based startup, Tonal is the maker of a smart home fitness trainer.

It’s really unclear to me how these connected fitness companies keep getting funding.  Here are the details: A new $130 million raise from L Catterton.  This is on top of a $250 million Series E the company raised in 2021, and the company now says they are REAL CLOSE to profitability.  Which I’m sure is exactly why they raised over 100 million dollars, because they are so close to cash-flow breakeven.

TechCrunch: After a turbulent few years for home fitness, Tonal gets fresh funding and new CEO

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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