FitBit Inc. Raises $2 Million From True Ventures, SoftTech VC, and Angels
FitBit is a company that created a device and website to determine how much fitness and sleep you are getting. The device retails for about $99 and debuted at the TechCrunch50 conference. The device is wireless and comes with a recharging dock. The FitBit Tracker devices automatically uploads activities, calories burned, distance, and sleep quality to the website. This information is then presented to the device holder in an entertaining way.
True Ventures and SoftTech VC have decided to plug in about $2 million in funding into these companies. Through the round of funding, Jon Callaghan of True Ventures has joined the FitBit board. FitBit plans on using the funding to further the development and distribution of the device. The funding will also help develop additional products and services. Signing up for FitBit.com is free.
FitBit was started by Eric Friedman and James Park. Friedman has previously worked for Webshots and co-founded Windup Labs. Park was also a co-founded in Windup Labs.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry