Report: Fitbit raises $30 million at $300 million valuation

By Brian Dolan
11:48 am

Fitbit Zip Fitbit OneSan Francisco-based Fitbit, which offers activity monitors and a connected weight scale, has raised an additional $30 million in its fourth round of funding at a valuation of $300 million or more, according to a report over at TechCrunch. While the investors announced for its $12 million third round of funding in January 2012 included Foundry Group, True Ventures, SoftTech VC and Felicis Ventures, the investors in this fourth round are still unknown. The recent funding makes Fitbit one the best funded activity and weight tracking companies in digital health.

At the Consumer Electronics Show (CES) this year, Fitbit unveiled a new Bluetooth Smart-enabled, wrist-worn activity tracker, called Fitbit Flex. Like most of its other trackers, the Flex also helps users track their sleep health if worn at night. What set it a part from previous offerings from the company was that all of Fitbit’s previous activity trackers were intended to be worn clipped on to clothing or tucked into users’ pockets. The Flex, which is priced at $99.95 for preorders, was the first wrist-worn device from the company.

fitbitariaIn September 2012 Fitbit launched its first Bluetooth-enabled activity trackers: Fitbit One and Fitbit Zip. Legacy Fitbit devices only uploaded information to the Fitbit portal and app when the wearer was nearby a wireless-enabled hub that plugged into the user’s computer via USB, and the new Fitbit devices offer this too for users that do not use Bluetooth 4 compatible devices.

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At the beginning of 2012, Fitbit unveiled the Aria WiFi scale, its first product offering outside of wearable activity monitors. Similar to Withings’ WiFi scale, the Aria measures weight, body fat percentage, as well as BMI and uploads the data via the user’s home WiFi network to Fitbit’s online portal.

Fitbit sells its devices in various retail stores including Target, Best Buy, Brookstone, REI, RadioShack, and more. It also worth noting that former Allscripts CEO Glen Tullman has written about the possibility of including Fitbit data in EHRs in the future.

Fitbit Flex__ColorsIn October 2011 Fitbit launched the Ultra, the second generation of its original wearable fitness monitor. Like the original Fitbit device, the Ultra is a wireless-enabled, fitness and calorie tracking device small enough to clip on to the user’s clothing. Fitbit leverages an internal motion detector to track the wearer’s movement, sleep, and calorie burn during both the day and night. Fitbit provides users with metrics like: steps taken, miles traveled, calories burned, calories consumed, bedtime, time to fall asleep, number of times awoken, total time in bed, and actual time sleeping.

Last month Fitbit announced an upgrade that enabled its devices wirelessly sync to Android phones and tablets via Bluetooth 4.0. Initially, syncing is enabled for the Samsung Galaxy S3 and the Samsung Galaxy Note II, with more promised to come.


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