Fitbit raises $43M in Series D funding
This post was originally published on the Fitbit press site. It has been adapted from its original format.
What: Fitbit, the leading innovator and market leader in the growing Connected Health & Fitness category, has raised $43 million in a Series D funding round. New investors in this round include Qualcomm Ventures, SAP Ventures and SoftBank Capital, and existing shareholders Foundry Group and True Ventures also took part in this round.
When: Announced Tuesday, August 13, 2013
Why: This funding will help the company, which is headquartered in San Francisco, accelerate hiring of the best hardware and software engineers, designers, product managers, data analysts and marketers.The capital will also support plans to expand Fitbit’s global business focused on developing products that help people live healthier lives.
“We’re excited to continue expanding our team with world-class talent and partners that will help us create the most advanced digital health products and experiences,” said James Park, CEO and co-founder of Fitbit.
Additional Info: The company released three new health and fitness wireless activity trackers in the last 12 months, including the Fitbit Flex Wireless Activity + Sleep Tracker wristband, Fitbit One Wireless Activity + Sleep Tracker and the Fitbit Zip Wireless Activity Tracker, along with new mobile apps and a redesigned online dashboard.
Within the same timeframe, the rapidly-growing company also:
- Widened its retail footprint in the U.S. to include 15,000 stores
- Swiftly expanded its global presence across EMEA and APAC regions
- Continued to establish its corporate wellness solutions in the B2B market
About: Founded in 2007 in San Francisco, Fitbit is the market leader in the fast-growing Connected Health & Fitness category. Fitbit’s full line of products, which includes the award-winning Fitbit Flex activity tracker wristband, FitbitZip and Fitbit One activity tracker clips, and the Aria Wi-Fi Smart Scale, means Fitbit offers the most diverse product line to track everyday health and fitness. Fitbit products are carried in more than 15,000 U.S. retail stores and sold internationally, including Canada, UK, France, Germany, Spain, Japan, Singapore, Australia and New Zealand. Fitbit investors include the Foundry Group, Qualcomm Ventures,SAP Ventures, SoftBank Capital, SoftTech VC, and True Ventures. For more information, please visit www.fitbit.com or connect with us on Facebook or Twitter.
