Tempo, the developer of an AI-powered connected fitness system that provides various at-home fitness classes, raised $220 million in Series C funding.
The round was led by SoftBank Vision Fund 2 with participation from new investor Steadfast Capital Ventures and returning investors DCM, General Catalyst, Norwest Venture Partners, and Bling Capital.
Including the latest funding round, Tempo has raised nearly $300 million to date.
Tempo plans to allocate the new funding toward enhancing its AI and 3D sensor technology to expand further its real-time form feedback and personal guidance for users. The company also recently announced vast expansions across its hardware, software, and content offerings to best supplement the training experience and continue to deliver an at-home gym and personal trainer experience.
The Tempo Pro is priced at $3,995, with the Tempo Starter ($2,495) and the Tempo Plus ($3,245) bundles available for lower price tags. Additionally, in a separate, $39 monthly plan, the company offers unlimited, AI-powered training spanning from strength and cardio to recovery classes, available both live and on-demand, the company said.
“Tempo was launched on the premise that the most advanced and versatile technology can unlock human potential by redefining the personal training experience. Today, our AI uses 3D sensors and is trained on over 5M workouts over 40K hours to give our users the most effective and personalized workouts possible,” said Moawia Eldeeb, Co-Founder and CEO of Tempo. “This new funding allows Tempo to further develop its AI to expand our class categories and content offerings.”
Powered by AI-powered 3D sensors, the Tempo Studio is an at-home fitness studio that includes real-time guidance and competition-grade weights to help members reach their fitness goals. The 3D sensors enable correct form, counts, reps, and recommend weights – providing a more effective and safer workout in real-time, according to the company statement.
“The fitness landscape has transformed dramatically as more consumers seek home fitness solutions. By providing personalized AI-generated feedback through its computer vision technology, Tempo delivers the experience of working out with a personal trainer to consumers in their homes,” said Jeff Housenbold, Managing Partner, SoftBank Investment Advisers. “We’re excited to partner with Moawia and the Tempo team to support their ambition to help people progress in their fitness journeys at home.”
Digital wellness & fitness companies raised $792 million in 2020.