STEPR, the stair-climbing company redefining at-home and commercial cardio, has officially opened a community equity round that allows everyday users and fans to invest directly in the company.
The move marks a major milestone for a brand that’s already built a profitable business without outside funding. It’s a rare story in fitness hardware: a startup that’s bootstrapped its way to success before ever raising capital.
Since launching, STEPR has sold more than 7,000 units and generated over $25 million in lifetime revenue, including roughly $14 million in FY 2025. The company’s stair climbers are now available in more than 450 Dick’s Sporting Goods stores and through major partners such as Rogue Fitness, Scheels, ABT, and Johnson Fitness.
Co-founder Dan Alenaddaf explained the company’s approach:
Over the last few years, the fitness space was flooded with venture-backed experiments. We chose a different path,” said Dan. “We bootstrapped, built real products, proved product-market fit and demand, and became the leader in the home stair-climbing category all without locking customers into mandatory subscriptions. Now we’re inviting our community to own a stake in what comes next.
It’s a clear contrast to the pandemic-era boom in connected fitness, when companies raised huge rounds long before proving they had staying power. STEPR took the opposite approach by building a profitable company first, and raising later.
Why this moment
There’s good reason for timing this raise now. STEPR says users have logged more than 350 million steps across its installed base, with strong adoption among athletes in CrossFit, HYROX, bodybuilding, ultra-endurance, and other performance-driven sports.
The company has multiple patents pending across its stair-climber lineup and holds an exclusive global license for its next-generation VPR fan and air-resistance technology, which could open up opportunities across other cardio modalities.
STEPR’s next phase includes optional membership rewards, IP licensing, and expansion into commercial channels, along with plans for events, studio concepts, and even strength-based equipment. All built around a profitable hardware foundation rather than a paywall-driven software model.
A David versus Goliath approach
STEPR’s founders have described their growth strategy as “David versus Goliath.” While many connected-fitness companies were raising massive venture rounds and locking users behind subscriptions, STEPR was quietly building trust by keeping its product fully functional without requiring ongoing payments.
That strategy has paid off. Customer satisfaction and brand loyalty remain high, and repeat sales have helped the company maintain profitability. Something few fitness hardware startups can claim.
The company’s momentum also stands out when compared to early crowdfunding campaigns in the space. Peloton raised roughly $300,000 on Kickstarter in 2013, Hydrow raised about $1 million on Indiegogo in 2018, and CLMBR around $1.3 million in 2020. STEPR’s own 2023 pre-sale reached approximately $2.4 million.
Why this matters
Opening a community equity round gives STEPR fans and customers a way to invest directly in a brand they already believe in. It’s a different approach to growth. Rather than seeking big VC capital, the company is bringing ownership to the people who helped build its success.
It’s also a chance for users to have a tangible stake in a hardware-first business that’s already proven market demand. Of course, like any early-stage investment, it carries risk. Hardware businesses are complex, and expanding across multiple categories will take precise execution.
But STEPR’s proven profitability, IP advantages, and diversified roadmap make it one of the most promising connected-fitness stories in 2025.
My take
As someone who is currently working to help build and improve upon STEPR’s connected fitness programs, my take is definitely biased. However, this move feels true to what STEPR has always stood for. The company didn’t build hype; it built hardware that works. It didn’t depend on investors to survive; it depended on its customers. And now, it’s inviting those same customers to join the ride.
If you believe in the future of stair climbing as a mainstream cardio category, or you simply appreciate a company doing things differently, STEPR’s community equity round might be one worth watching.
More information and investment details can be found at invest.getstepr.com.
FTC: We use income earning auto affiliate links. More.
