STEPR, the stair climbing company redefining home and commercial cardio, has officially opened social equity cycle that allows everyday users and fans to invest directly in the company.
The move marks a milestone for a brand that has built a profitable business without external funding. A rare story in hardware hardware: a startup that paved the way to success before raising capital.
Since its launch, STEPR has sold more than 7,000 units and more is produced $25 million in lifetime earningsincluding approx $14 million by FY 2025. The company’s stair climbers are now available at a premium 450 Dick’s Sporting Goods stores and with great partners such as Rogue Fitness, Scheels, ABT, and Johnson Fitness.
Founder Dan Alenaddaf explained the company’s approach:
A few years ago, the fitness space was filled with corporate-backed exercises. We chose a different approach,” said Dan. “We bootstrapped, built real products, demonstrated product market fit and demand, and became a leader in the home stair climbing category all without locking customers into mandatory subscriptions. We are now inviting our community to contribute to the following.
It’s a stark contrast to the pandemic-era boom in connected resilience, where companies raise large rounds before proving they have staying power. STEPR took the opposite approach by building a profitable company first, and scaling later.
Why this time
There is good reason to schedule this promotion now. STEPR says users have logged in more 350 million steps throughout its installed base, with strong acquisitions among athletes in the CrossFit, HYROX, bodybuilding, ultra-enduranceand other performance-driven games.
The company has many patents pending across its line of stairs and hold i exclusive worldwide license to the next generation VPR fan and wind resistance technologywhich can open up possibilities for all other cardio methods.
The next phase of STEPR includes optional membership rewards, IP licenseagain expansion into trade channelsand plans for events, studio conceptsand even equipment based on energy. Everything is built around a hardware foundation that benefits from a paywall-driven software model.
David and Goliath are approaching
STEPR’s founders described their growth strategy as “David versus Goliath.” While many fitness related companies have been growing big strategies and locking users in after a subscription, STEPR has been quietly building trust by keeping its product fully functional without requiring ongoing payments.
That strategy paid off. Customer satisfaction and brand loyalty remain high, and repeat sales have helped the company maintain profitability. Something a few of the fitness platforms might want.
The company’s momentum also stands out compared to early fundraising campaigns in the space. The Peloton raised approx $300,000 on Kickstarter in 2013, Hydro raised about $1 million on Indiegogo in 2018, too CLMBR all around $1.3 million in 2020. His is STEPR 2023 pre-sale reached approx $2.4 million.
Why is this important?
Opening a public equity round gives STEPR fans and customers a way to invest directly in a brand they already believe in. It’s a different way of growing up. Rather than seeking large VC capital, the company brings ownership to the people who helped build its success.
It’s also an opportunity for users to have a tangible role in a hardware startup that already has a proven market need. Of course, like any early stage investment, there is risk. Hardware businesses are complex, and expanding across multiple tiers will take precise implementation.
But STEPR’s proven benefits, IP benefits, and diverse roadmap make it one of the most promising stories for connected resilience in 2025.
My take
As someone who currently works to help build and develop 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 the hype; build functional hardware. It did not 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 class, or simply appreciate a company that does things differently, the STEPR Community Fitness Cycle may be one to watch.
More information and investment details can be found at invest.getstepr.com.
