/// Jawbone Raises More Than $100 Million to Meet Demand for Wearable Tech

September 12, 2013  |  All Things Digital

Jawbone, the Bay Area-based electronics company that makes colorful Bluetooth speakers and the activity-tracking Up wristband, has raised more than $100 million through debt financing and new equity. Jawbone UP The funding round was first reported by Fortune earlier this morning. AllThingsD has independently confirmed the funding. The company has said it needs cash in the short term to meet demand for its products, as it has “millions of back-orders to fill,” according to the Fortune report. Its long-term strategy, I’m told, includes the hiring of more data engineers to work on its wearable products. Jawbone raised over $90 million in debt financing and asset-backed loans from Silver Lake Partners, Fortress Investment Group, J.P. Morgan and Wells Fargo. Previous investors Andreessen Horowitz, Sequoia Capital and Kleiner Perkins also contributed to a new round of equity said to be at $20 million. In recent months, Jawbone, which is led by founder and CEO Hosain Rahman, has made at least a few strategic acquisitions in addition to expanding its product line and making key hires. In February, Jawbone bought two mobile-focused health and lifestyle companies, Visere and Massive Health , for an undisclosed amount. In April, it spent more than $100 million to acquire BodyMedia , a veteran Pittsburgh-based health-tracking company, for both its talent and its patents. Since then, it has also hired data scientist Monica Rogati as a “VP of Data” and has been looking to hire more data-focused scientists and engineers. Jawbone’s $130 Up wristband is part of a growing category of devices that are worn on the wrist and other parts of the body to track wearers’ activity levels throughout the day and sync the data to a mobile device. Competitors include Fitbit’s products and the Nike+ FuelBand — and competition may be creeping up from within the mobile phone itself, as sensors inside smartphones get better and more plentiful

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Jawbone Raises More Than $100 Million to Meet Demand for Wearable Tech

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