Tempo, a San Francisco, CA-based home fitness system, raised $60M in Series B funding.
The round was led by Norwest Venture Partners and General Catalyst, along with return investors DCM, Bling Capital, SignalFire, Founders Fund, and Y Combinator. Along with this investment, Norwest’s Edward Yip and General Catalyst’s Holly Maloney will join Tempo’s Board of Directors.
The company will use the capital to increase manufacturing capacity and expand its innovative content offering with a second production studio.
Led by Moawia Eldeeb, CEO & Co-Founder, Tempo provides a home fitness system that uses 3D sensors and A.I. to analyze motion and provide real-time rep counting, form feedback, and weight recommendations. The intelligent trainer delivers the guidance of an in-person coach with real-time rep counting, interactive form feedback, and personalized weight recommendations. With tens of millions unable to go to the gym or attend classes in person, consumers’ fitness needs have evolved. App-based services lack the necessary equipment to be effective for most people, while previous smart devices often do little more than stream videos without two-way guidance. To supplement its direct-to-consumer efforts and accelerate nationwide sales, Tempo is also announcing a distribution partnership with Tishman Speyer, a global developer of commercial and residential real estate, and beginning next month will be available for purchase BestBuy.com, the largest consumer electronics retailer in the US—with the goal of being available in 250 total locations by the end of year.
FinSMEs
29/07/2020