Tonal Secures $130M in Funding, Names Krystal Zell as CEO to Drive Growth

Words by Retail Bum

Tonal Secures $130M in Funding, Names Krystal Zell as CEO to Drive Growth
Tonal Secures $130M in Funding, Names Krystal Zell as CEO to Drive Growth

Tonal, the San Francisco-based fitness technology company known for its sleek wall-mounted strength training machines, is shuffling its executive ranks as it charts its next phase of growth with fresh funding under its belt.

The company’s founder, Aly Orady, has stepped down from his position as CEO and will transition to the new role of chief technology officer. Replacing Orady will be Krystal Zell, who previously served as Tonal’s chief operating officer.

She brings over 20 years of experience in leading companies within the retail and hospitality industries, such as The Home Depot and Starwood Hotels & Resorts Worldwide, Inc, with a focus on customer-centered growth.

Zell, who joined Tonal as the company’s president in July 2022, is expected to work closely with Orady to keep the company’s focus on innovation and driving forward the technology that powers the company’s community.

“I’m honored to be stepping into this new role during such an important inflection point in Tonal’s journey and to steer Tonal into its next stage of growth with a reinvigorated member-first mindset. With a robust financial foundation in place, the deep engagement of our members, and partnerships with our vendors, we look to the future with a clear line of focus on serving our members, deepening member engagement, and strengthening member loyalty,” said Zell. “Tonal was built on a legacy of amplifying the strength that exists in everyone, and I’m excited to help Tonal deliver on that ambitious mission with the continued support of our dedicated team of employees and enthusiastic investors.”

Since being founded in 2015, Tonal has been revolutionizing the fitness sector with its intelligent features, such as adaptive digital weight that adapts to the user’s needs for a personalized full-body workout.

In addition to Zell’s appointment, the company announced the completion of its latest funding round, in which it raised $130 million in new capital from existing investors, including L Catterton, Cobalt, Dragoneer, Kindred Ventures, and THVC.

The company plans to use the fresh capital to strengthen its balance sheet, drive growth, and achieve profitability to serve its community of users better.

Photo credit: Tonal

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