The struggling connected strength training platform raised $130 million in a new funding round at a valuation that was likely significantly lower than its last round in 2021. The Information had estimated that this latest round would value Tonal at between $200 and $300 million, giving equity holders a substantial haircut on paper from the $1.6 billion of its $250 million Series E round two years ago. The Wall Street Journal reported that the valuation was between $550 and $600 million, citing ... Log in to view full article.