Fitibit raises $43M as competition grows

Fitbit raises $43M as competition grows

19 AUG 2013

Health-device tracker Fitbit has raised $43 million in a fourth round of funding with new backers numbering prolific health tech investor Qualcomm Ventures as well as SoftBank Capital and SAP Ventures.

The company raised $12 million in January last year and two participants from that round, the Foundry Group and True Ventures, were also part of this latest round.

The health tracker market is getting hectic between the leading rivals. In addition to Fitbit, there is also the Nike + Fuelband, the Jawbone UP, the Withings Pulse, the Misfit Shine and Basis Band fighting in a similar space.

Fitibit says the funds will support the company’s growth, specifically hiring more staff including engineers and marketing staff.

The company also said its devices are now sold in 15,000 retail outlets across the US.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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