The at-home exercise tech space has a new member as Pivot, service offering consumers recorded and live workouts that are tracked via sensor, has stepped out of stealth mode to unveil its launch later this year. The announcement coincides with that of a $17 million Series A funding round led by DCM, with additional participation from Bling Capital, Founders Fund, Khosla Ventures, Signal Fire and Y-Combinator.
WHAT THEY DO
Pivot’s platform is a combination hardware and software service offering consisting of weights, a heart rate monitor, a connected mobile app and 3D sensors that use machine learning to track the user’s movements. With classes for strength training, high intensity interval training, cardio and other fitness focuses, the service — which VentureBeat reports will require a roughly $2,000 purchase and $40 monthly subscription — has recorded sessions as well as live events where instructors watching each participant’s tracked movements in real time to offer direct feedback and encouragement. Additionally, users can share their workout progress with peers through included community features.
“In my own life, having someone who could teach me, inspire me, and hold me accountable made all the difference,” Moawia Eldeeb, CEO and founder, said in a statement. “A workout video, even if it's broadcast live, just doesn't compare. That's why Pivot is building technology to bridge the gap between the trainer and you, build that core relationship and deliver the same hands-on guidance you'd expect from an in-person class.”
WHAT IT’S FOR
In preparation for the fall launch, Pivot wrote in its announcement that it will be using the funds to bulk up its engineering and operations teams.
MARKET SNAPSHOT
Connected exercise device makers and home fitness enablers have been at the heart of some substantial funding rounds as of late, while the market’s trendiest manufacturer, Peloton, recently announced plans for an IPO. Retailers are starting to take note as well, with Best Buy announcing last month that it would bring a slew of these devices to more than 100 stores by the year’s end.
ON THE RECORD
“Pivot’s product differentiation was clear to me the first time I tried it, and I’m incredibly excited for the company’s upcoming launch,” Kyle Lui, a partner at DCM who announced the funding and will be joining Pivot’s board, said in a statement. “[The founders] are authentic to this space. Pivot’s technology combines world-class machine learning, software and hardware to create an at-home strength training and fitness experience comparable to what Peloton has achieved for the at-home spin experience.”
