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Fitness tracking company Fitbit seals $43m financing round from venture firms

14 Aug 2013

FitbitA gang of venture capital investors have boosted digital fitness tracker Fitbit’s funding to $96m by backing a $43m financing round.

Qualcomm Ventures, Softbank Capital and SAP Ventures all made new investment in the business through the round alongside existing backers True Ventures and Foundry Group.

Fitbit is part of a rising tide of startups creating wearable devices to monitor fitness, with the company’s pedometer designed to track the number of steps taken and relay the data and analytics to the user’s smartphone.

The deal comes hot on the heels of online calorie counting app MyFitnessPal sealing an $18m Series A investment round from US venture capital heavyweights Kleiner Perkins Caufield & Byers, which also included Accel Partners.

That deal is KPCB’s largest early stage investment according to the FT.

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