Misfit Raises $15.2M Led by Horizons Ventures

REDWOOD CITY, Calif.--()--Misfit Wearables, makers of Shine, an elegant physical activity monitor that you can wear anywhere, today announced a $15.2 million Series B financing led by Hong Kong-based Horizons Ventures. Jason Wong from Horizons will be joining Misfit’s Board. All existing investors, including Founders Fund, Khosla Ventures, Norwest Venture Partners, OATV, Max Levchin, and incTANK, took their full pro-rata amounts in the round. Other new investors include Translink Capital, The Coca-Cola Company, TenOneTen Ventures, Atom Factory, and Nick D'Aloisio.

Misfit is focused on making the world's most wearable technology products. A pioneer in digital health, the Company launched Shine in 2013 to provide a simple, beautiful tool that helps people live healthier lives by inspiring them to be more active.

Award-winning for its sleek design, Shine is an all-metal activity monitor that tracks activity and sleep. Shine syncs wirelessly and effortlessly with iOS and Android devices and runs on a coin cell battery, allowing users to forego cables for syncing or charging. Made from diamond-cut, aircraft-grade aluminum, Shine was designed to be timeless and built to last a lifetime.

On the heels of a record-breaking crowdfunding campaign on Indiegogo in January 2013, Shine has shipped hundreds of thousands of units to over 20 countries in the last few months. In the US, Shine is available at the Apple Store, Best Buy, Target and at: http://store.misfitwearables.com

This funding will support the continued growth of Misfit driven by the success of Shine and the commercialization of upcoming products currently being developed. "Shine has been a great start for us," said CEO Sonny Vu. "We have a bold vision for the future of wearables, for making them desirable, accessible, and deliver on great use cases. The funding and new partners we have will be essential in helping us achieve these goals."

About Misfit

Misfit Wearables invents and manufactures highly wearable computing products. The company was founded in 2011 by Sonny Vu with John Sculley, the former CEO of Apple and Pepsi, and Sridhar Iyengar, co-founder and CTO of AgaMatrix.

Misfit product images and videos: http://www.misfitwearables.com/media

Copyright 2013 Misfit Wearables Corporation. All rights reserved.

Contacts

Misfit Wearables
Media contact:
Justin Butler, 603-475-9782
jbutler[at]misfitwearables[dot]com

Release Summary

Misfit Wearables, makers of Shine, an elegant physical activity monitor that you can wear anywhere, today announced a $15.2 million Series B financing led by Hong Kong-based Horizon Ventures.

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Contacts

Misfit Wearables
Media contact:
Justin Butler, 603-475-9782
jbutler[at]misfitwearables[dot]com