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Venture Capital News: Tempo Announces $60M in Series B Funding

2020-07-30
SAN FRANCISCO, CA, Tempo announced $60M in new funding led by Norwest Venture Partners and General Catalyst.
Tempo, the first home fitness system that uses 3D sensors and A.I. to analyze your motion and provide real-time rep counting, form feedback, and weight recommendations, today announced $60M in new funding, the largest Series B of any smart fitness company to date. The round was led by Norwest Venture Partners and General Catalyst, along with return investors DCM, Bling Capital, SignalFire, Founders Fund, and Y Combinator. Tempo also announced a strategic partnership and investment from Tishman Speyer. To meet soaring demand, Tempo will use the capital to increase manufacturing capacity and expand its innovative content offering with a second production studio. Along with this investment, Norwest's Edward Yip and General Catalyst's Holly Maloney will join Tempo's Board of Directors.

With its launch, Tempo reset what was possible in the at-home category and proved to be the perfect fitness antidote to the COVID-19 pandemic.

An all-in-one fitness studio that transforms any room into a complete gym with a full weight set that adjusts from 7.5 to 100 lbs
An intelligent trainer that delivers the guidance of an in-person coach with real-time rep counting, interactive form feedback, and personalized weight recommendations
An energetic community that brings people a shared, real-life journey while quarantined at home with a motivating, live leaderboard and group programs
Since announcing pre-orders in February, sales are up nearly 500% and on track to exit 2020 at a $100M run rate. With an industry-leading NPS and a class rating hovering at 4.8 stars, Tempo members average 4 workouts per week-significantly higher than the typical gym membership.

Tempo is the first and only home fitness system that uses 3D sensors and A.I. to analyze your motion and provide real-time rep counting, form feedback, and weight recommendations in live strength, HIIT, and cardio classes led by expert trainers. The brand's flagship product, the Tempo Studio, is a complete home gym that packages a 115 lb competition-grade weight set, an immersive 42 inch HD touchscreen, and other accessories in a sleek, free-standing design. Tempo is headquartered in San Francisco.
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