Emerging Technology Insider
Temp raises $220 million to enhance AI and 3D sensor technology for all-in-one home gym
SAN FRANCISCO--(BUSINESS WIRE)--Tempo—the first home fitness system that uses advanced 3D sensors and AI to analyze users’ motion to provide a personal training experience—today announced $220 million in new funding. The Series C 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. This brings Tempo’s funding to date to nearly $300 million.
Tempo will allocate the new funding toward the continued enhancement of its AI and 3D sensor technology to further expand its cutting-edge, 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 a full, at-home gym and personal trainer experience.
“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."
With its unique offering for at-home fitness, Tempo has gained significant momentum since launching in 2020. In the past year alone, Tempo saw its sales increase by 10 times and has seen 0% subscription cancellation.
“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.”
As the only complete yet incomparably compact and connected home training solution on the market, the Tempo Studio combines the hands-on guidance of a personal trainer, the motivation of a group fitness class, and premium design-forward equipment. After more than six years developing Tempo’s flagship product, the company remains dedicated to providing the most efficient and personalized fitness experience to its community. Since the start of 2021, Tempo has launched several new offerings and experiences, including:
New Equipment and Accessories: Tempo introduced new hardware, including an adjustable kettlebell system, folding squat rack, weight plate storage, and a folding bench.
Launch of Bundles: New customers can now select from Tempo’s latest bundles based on their unique training needs, fitness levels, and available space. 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.
Class Category Expansion: The company will soon launch the new class category of yoga and recently introduced cardio-boxing to reach new customers and supplement existing members’ routines.
Digital Personalization Experience: Tempo rolled out My Plan, a comprehensive revamp of its mobile app and update to its Studio experience, which provides members with weekly, personalized workout plans and classes based on their goals, fitness levels, and preferred schedules—whether at-home or on the go. My Plan takes the guesswork out of building an effective fitness routine.
The Tempo Studio is available for purchase at tempo.fit starting at $2,495—or $69/month for 36 months with financing—with additional bundles available. A separate $39 monthly membership per household unlocks unlimited, AI-powered training spanning Tempo’s expansive offering of fitness classes, available both live and on-demand.
Tempo’s products are also available at BestBuy.com and will be in Best Buy retailers nationwide this fall.
For more information and assets, please access the media kit here.
About Tempo Tempo is a fitness company that develops innovative products to help people progress in their fitness journeys. The Tempo Studio is the first home fitness studio that includes real time guidance and competition-grade weights to help members reach their fitness goals. Tempo’s AI-powered 3D-sensors corrects form, counts reps, and recommends weights—providing a more effective and safer workout in real-time.
Tempo is built for all levels, from beginner to advanced athlete. We provide personalized products that can grow with our members as they progress towards their goals.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
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