Tonal Names New CEO, Raises $130 Million in Funding

April 11, 2023

Tonal, San Francisco, named a new CEO and completed a funding round that raised $130 million in new capital, the company announced on April 10.

The funding came through existing investors, led by L Catterton, Cobalt, Dragoneer, Kindred Ventures and THVC. It is part of a broader recapitalization strategy to strengthen the company’s balance sheet, accelerate profitability and drive growth. Club Industry