Fitness technology and hardware startup Fitbit is raising north of $30 million in growth capital at a $300 million-plus valuation, according to multiple sources. The company last raised $12 million in January 2012 from Foundry Group, True Ventures, SoftTech VC and Felicis Ventures. It’s unclear who the investors are in this round.
Fitbit, which was a TechCrunch 50 finalist in 2008, offers a number of devices that track weight, nutrition, exercise, sleeping patterns and other health-related data for users.
The company originally launched the Fitbit Tracker, which has now evolved into the One Wireless Activity and Sleep Tracker. This device clips onto clothing or slips into a pocket and captures information about daily health activities, such as steps taken, distance traveled, calories burned, exercise intensity levels and sleep quality. Fitbit’s Wi-Fi-enabled scale, the Aria, will transmit both weight and body fat measurements wirelessly to your Fitbit account.
In the past year, Fitbit launched a more lightweight version of the tracker called the Zip, which measures steps, distance and calories burned. And most recently, the company debuted the Flex Flex Wristband, which is similar in form to the Jawbone UP or Nike FuelBand, and also tracks steps, distance, calories burned, active minutes, hours slept and quality of sleep.
While there is no shortage of health and fitness trackers that have emerged in the past few years, Fitbit was one of the first. So the company has a leg up on some of the competition when it comes to manufacturing, ironing out the kinks, developing companion products and more. And we’re told the company is making meaningful revenue these days, justifying its heftier valuation.