Echelon Fitness, makers of connected fitness equipment including smart bikes, rowers, and interactive workout mirrors, is exploring a public listing among other strategic options.
According to Bloomberg, the company is fielding interest from investors that could fetch at least $100M in new funding. Adding to a growing list of fitness companies testing the public waters, Echelon is also weighing an IPO or SPAC merger.
By the Numbers
- Last year, Goldman Sachs led the company’s $65M funding round.
- In April, Echelon added new funding, but no terms were disclosed.
- In 2020, sales jumped 500% to $100M. This year, revenue is expected to top $200M.
Billed as an affordable alternative to Peloton, the company has found success by focusing on accessibility and distribution.
Unlike Peloton, which sells online and through owned showrooms or kiosks, Echelon is available on Amazon and sold in retail stores like DICK’S, Costco, Walmart, and other locations.
Leveling up its content, Echelon recently teamed up with Pitbull. As an investor and collaborator, the Grammy-winning musician helps the connected fitness company compete in the exertainment wars.
Entering this year, there were three publicly traded fitness companies. Soon, there could be 10.