Tempo Raises $60 Million to Help You Work Out at Home -- Barrons.com


2020/07/30 06:17  Dow Jones Newswires

DJ Tempo Raises $60 Million to Help You Work Out at Home -- Barrons.com

By Luisa Beltran

Tempo, a startup that provides people with a home gym and an artificially intelligent personal training system, raised $60 million Wednesday in a series B round led by Norwest Venture Partners and General Catalyst.

Prior investors DCM, Bling Capital, SignalFire, Founders Fund and Y Combinator participated in the B round. So far, Tempo has raised $77.5 million in total, including a $17.5 million series A round in February.

Tempo -- which refers to the speed a person can lift weights repeatedly -- is the brainchild of its CEO and co-founder Moawia Eldeeb. When Eldeeb was in high school, he says his family's home burned down, causing them to move into a Red Cross shelter. "Personal trainers trained me and helped me get my life back together," Eldeeb told Barron's. He also worked as a personal trainer to pay for college.

Many people, however, can't afford personal trainers. Eldeeb founded Tempo with the goal of making fitness training affordable for everyone

Eldeeb said he also wants to help people to not feel bad about fitness. Gyms in America are filled with people who join "in January and by February give up when they don't see a six-pack," he said.

Tempo customers receive a free-standing fitness machine that features a 42-inch touch screen. Shaped like an easel, the screen uses 3-D sensors to track motions, count repetitions of workouts, and correct mistakes. Tempo also comes with a barbell and weights that let users lift from 7.5 pounds to 100 pounds, a workout mat, a foam roller, and a heart rate monitor. Users can pay two ways: An upfront $1,995 with a $39 per month content subscription or they can finance the cost by paying $55 a month with a $39 a month content subscription. Eldeeb estimates Tempo has a "few thousand customers."

The core part of Tempo is the training, Eldeeb said. The startup has downloaded five years of data from SmartSpot, Tempo's B2B predecessor founded by Eldeeb, that gyms use to instruct users on how to workout properly. This allowed Tempo to collect "millions of workouts" featuring people of different backgrounds, races and body types. Tempo used this data to train the artificial intelligence that tells users when they're arching their backs or flaring out their elbows, Eldeeb said. The artificial intelligence also lets users know when they've corrected their mistakes in positioning, he said. Users can access on-demand workouts and live exercise classes with trainers, of various kinds.

Tempo, unlike Peloton Interactive (PTON), does not have a camera but a sensor that takes in a 3-D model of a person's body. The artificial intelligence looks at joints and range of motion; its vision is limited up to six feet, he said. Tempo has uploaded "enough hardware that it can't be hacked. We built it from the ground up with that being first in mind," Eldeeb said.

Tempo's series B round comes months after the startup raised $17.5 million earlier this year. The San Francisco-based company had 70% of the series A round left but realized that it didn't have enough money to fulfill its backlog of 3,000 unfulfilled orders, he said. In June, Tempo decided to raise another round, Eldeeb said. He plans to use one-third of the $60 million to "onboard three humongous manufacturers." Right now, it takes six to eight weeks to receive a Tempo, which Eldeeb hopes to cut down to two weeks by September and one week by November or December. "Right in time for the holidays," he said.

Tempo currently employs 50 people and Eldeeb plans to double that by the end of the year. The startup is also on track to produce $100 million in annual revenue by December, he said.

Tempo's successful fundraiser comes during a pivotal time for the fitness sector. The Covid-19 pandemic has caused businesses across the U.S. to shutter. This has spurred disruption in the fitness industry, which has seen 24 Hour Fitness and Gold's Gym seek chapter 11 bankruptcy protection. The pandemic accelerated the trend of fitness moving into the home, Eldeeb said. Some have benefited from the switch. For instance, Peloton's stock has jumped by 125% this year. "The market has changed forever. [Covid-19] was the best thing possible [for Tempo]," he said.

The pandemic also weeded out gyms that use gimmicks to attract people, he said. Many big box gyms rely on the fact that a segment of their customers will never physically attend. Eldeeb expects boutique gyms that cater to people with strength goals, who actually go to the gym, will survive. "[Gyms] need to change and serve their actual customers and build space for the 400 that actually show up," he said.

Write to Luisa Beltran at luisa.beltran@dowjones.com

(END) Dow Jones Newswires

July 29, 2020 18:17 ET (22:17 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

DJ Tempo募集6000万美元助你在家健身--Barrons.com

路易莎·贝尔特兰(Luisa Beltran)著

Tempo是一家初创公司,为人们提供家庭健身房和人工智能个人训练系统。周三,该公司在Norwest Venture Partners和General Catalyst牵头的B轮融资中筹集了6000万美元。

之前的投资者DCM、Bling Capital、SignalFire、Founders Fund和Y Combinator参与了B轮融资。到目前为止,Tempo总共筹集了7,750万美元,其中包括2月份1,750万美元的首轮融资。

Tempo--指的是一个人可以重复举重的速度--是其首席执行官兼联合创始人莫阿维娅·埃尔迪布(Moawia ElDeeb)的创意。埃尔迪布说,当他上高中时,他家的房子被烧毁,导致他们搬进了红十字会的避难所。ElDeeb告诉Barron‘s:“私人教练训练了我,帮助我重新过上了我的生活。”他还做过私人教练来支付大学学费。





Tempo与Peloton Interactive(PTON)不同,它没有摄像头,而是一个传感器,可以接收人体的3-D模型。他说,人工智能着眼于关节和运动范围;它的视野限制在6英尺以内。ElDeeb说,Tempo已经上传了“足够多的硬件,以至于它不会被黑客入侵。我们从头开始建造它,首先考虑到了这一点。”





写信给Luisa Beltran,电子邮件:luisa.beltran@dowjones.com





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