connected fitness
The Danish fit-tech company offers live indoor cycling classes from any bike.
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Like others in the space, the 43-year-old owner of the NordicTrack, Freemotion, ProForm and iFit brands has seen revenues rise amidst social distancing.
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As part of the deal, Northwest Capital's Edward Yip and General Catalyst's Holly Maloney are joining Tempo's board.
The company's IPO has started strong, but the connected fitness space and the company's unprofitability raise questions about sustainability.
Despite high net losses, investors are bullish on the company. But others see it as a high-end fitness fad.
Echelon Fit is looking to expand its cheaper connected spin bikes to more retailers by the fall.
Flywheel Sports, Hydrow, NordicTrack, NormaTec and Hyperice products will hit more than 100 stores by the year's end.
While financial details are not available, the move highlights the ascension of a new face for the consumer fitness market.