FitBit Raises $43 Million
RT : Fitbit raises $43 million from three new investors http://t.co/WxbWVBWabY via . ”
— Linda Stotsky (@EMRAnswers)
This is great news for FitBit the company. That should be enough cash to really aggressively go after the mobile health market. Of course, with $43 million of funding and their previous $12 million third round of funding, they have no choice but to hit it out of the park now.
One advantage that FitBit has over a lot of the mobile health industry is that the FitBit is now sold in 15,000 retail locations across the US. Getting that type of distribution takes time and is a very strong asset for the company.
I’ll be interested to see where they take the technology next. One problem with being a hardware company is that your next model has to be better than your previous model. I’ll be interested to see how well they can execute their next FitBit models. Will they continue to make huge step forwards in mobile health devices or will they be just an evolution of their current product? The answer to that will determine whether FitBit is a great investment or not.
My question for you is: Does this amount of funding help to legitimize the mobile health space?
