Product News

Fitbit Raises $43M for Health Tracking

Published on August 13, 2013
by Liz Gannes

Wearable fitness-device startup Fitbit has landed a $43 million Series D round of funding.

fitbit_380The funding comes from Qualcomm Ventures, SAP Ventures and SoftBank Capital, along with previous investors Foundry Group and True Ventures.

AllThingsD reviewer Lauren Goode recently declared the Fitbit Flex the best option in a bake-off between activity-tracking wristbands.

Fitbit faces ever-increasing competition, with more wearable devices that help tell people how much they’ve moved and that connect to apps to give progress reports. That includes the Nike+ FuelBand, the Jawbone Up, the Basis Band, the Withings Pulse and the new Misfit Shine. At the same time, these devices still seem to be on the periphery of the mainstream, though none of the competitors are yet releasing sales numbers.

Fitbits are now sold at 15,000 U.S. stores, and the company is expanding into other regions, and into corporate wellness. It said it would use the additional money for hiring and building more “products that help people live healthier lives.”

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URL: http://allthingsd.com/20130813/fitbit-raises-43m-for-health-tracking/