At-home fitness hardware Pivot announced that it has raised $17 million in Series A funding. DCM led the round, with participation from Bling Capital, Founders Fund, Khosla Ventures, Signal Fire and Y Combinator.
As part of the investment, DCM Partner Kyle Lui will be joining the startup’s Board of Directors. Pivot plans to hire across engineering and operations teams in advance of its consumer launch this fall. The platform has live and recorded classes from premier group fitness trainers that users can stream directly to their Pivot device at home.
San Francisco-based Pivot uses advanced 3D sensors and machine learning to count every rep and track form in real-time for classes such as strength training, high intensity interval training (“HIIT”), cardio and more. Class participants get feedback from live instructors in real time. Pivot’s upcoming product offering will include hardware and equipment, mobile app, heart rate monitor and a subscription featuring live & recorded content.
“Pivot’s technology combines world-class machine learning, software and hardware to create an at-home strength training & fitness experience comparable to what Peloton has achieved for the at-home spin experience.”
The startup seeks to cash in on the booming trend of training studios, with the market for boutique fitness studio franchises enjoying 10x growth in the last five years. Pivot believes that its proprietary data sets it apart from the pack. With over 1 million tagged workouts, Pivot’s B2B gym product has captured the largest dataset of active exercisers, enabling machine learning technology to provide accurate tracking and real-time feedback.
“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,” said Kyle Lui, Partner at DCM, in a statement. “Moawia and Josh are authentic to this space. Pivot’s technology combines world-class machine learning, software and hardware to create an at-home strength training & fitness experience comparable to what Peloton has achieved for the at-home spin experience.”
“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.”