Tonal is a wall-mounted smart home gym that uses digital weights, AI, and expert-led coaching for personalized strength training. The company was founded in 2015 and is headquartered in San Francisco, California.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Funding
Not disclosed
No priced round reported by two reputable outlets
Valuation
Not confirmed
Not confirmed by two independent reputable sources
How to Invest in Tonal Through UpMarket
Tonal shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Tonal offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Tonal Revenue and Growth
Annual revenue
Why Investors Are Watching Tonal
Product Milestone
AI-guided wall-mounted gym offers up to 200 pounds
Contrary Research describes Tonal as a wall-mounted smart home gym with AI, digital weights, and video guidance. The system uses electromagnetic resistance and supports up to 200 pounds across 200+ exercises.
Market Opportunity
Consumer fitness backer L Catterton led Tonal's early scaling
Tonal's CEO said the company raised $110 million from L Catterton, the Amazon Alexa Fund, Delta-v Capital, and Mousse Partners. The company said the round lifted total funding to $200 million, showing strong investor support for connected fitness.
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No. As of March 2026, Tonal is a private company and does not trade on any public stock exchange. Accredited investors can access Tonal shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Tonal does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Tonal shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Tonal shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
Tonal is a wall-mounted smart home gym that uses digital weights, AI, and expert-led coaching for personalized strength training. UpMarket has not confirmed a valuation from two independent reputable sources.
