Beddit Sleep Monitor Closes Funding From Inventure; To-Date Totals $8 Million

Investment Lets Sleep and Fitness Monitor Maker Stock Nationwide Retailers and Distributors for Holiday Season

HELSINKI--()--Sleep monitoring specialist Beddit today announced the closing of its latest financing round with Inventure, a leading Nordic early-stage venture capital firm, who joins the company as a new investor. Beddit's funding now totals $8 Million, with the latest round enabling the company to strengthen the presence and distribution of its non-intrusive sleep monitor to US and European retailers for the holiday shopping season.

Beddit debuted its consumer-grade sleep monitor with a record-breaking Indiegogo campaign, and recently partnered with Misfit Wearables to launch the Misfit Beddit Sleep System. Currently Beddit has signed agreements with a US nationwide reseller and strong partners in key European markets.

Beddit Sleep Monitor is an ultra-thin film sensor placed under the bed sheet. Beddit’s highly sensitive force sensor measures the user’s resting heart rate, respiratory rate and movement during sleep – all done without attaching sensors or touching the body. Beddit sends the sleep data over Bluetooth to a companion app on a smartphone where the data is analyzed using sophisticated algorithms based on ballistocardiography (BCG). Each morning Beddit’s mobile app presents a sleep analysis and coaching tips on how to improve sleep.

“While helping out stressed and restless people to sleep and feel better, we’re looking at improving the understanding of the key factors affecting a good night's sleep,” said Lasse Leppakorpi, CEO, Beddit. “The funding enables us to reach wider audiences through a stronger distribution network, with a target of nationwide US availability by Christmas. In addition, we’ll continue improving our service to offer the best consumer experience available.”

“Beddit is a forerunner in next generation sleep monitoring services, providing the user with actionable insights and supporting them with better decision-making,” says Ilkka Kivimaki, Partner at Inventure. “Thanks to its natural user experience and useful recommendations, we strongly believe that Beddit is the winning concept in the race from the quantified self innovation space to retail success."

Links:

- Read scientific research about Beddit’s technology: www.beddit.com/science

- Buy the Beddit Sleep Sensor & Smartphone App: http://shop-us.beddit.com/

- Like Beddit on Facebook: www.facebook.com/beddit

- Follow Beddit on Twitter: www.twitter.com/beddit

About Beddit

Beddit (founded in 2006) has offices in Finland and Silicon Valley. Beddit develops and markets revolutionary products and applications for sleep and wellness monitoring. Utilizing special sensor technology and sophisticated signal analysis algorithms, Beddit has created products for tracking of sleep, heart rate and breathing without any disturbing wearable sensors. Beddit products are used globally by medical and training professionals as well as by consumers. www.beddit.com.

Contacts

Beddit USA:
Annina Pierson, +1 408-457-4500
annina(at)beddit.com
or
Rocket Science PR (for Beddit)
Renee Newby-Friedman, +1 415-464-8110 ext. 213
mobile: +1 757-651-6554
renee(at)rocketscience.com
or
Beddit Europe:
Ida Lönnroth, +358 50 50 60 723
Communication Lead
ida(at)beddit.com
or
Netprofile (for Beddit)
Juha Frey, +358 40 57 24 674
juha(at)netprofile.fi

Release Summary

Beddit, maker of award-winning Beddit Sleep Monitor, closes funding round to total $8 million

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Contacts

Beddit USA:
Annina Pierson, +1 408-457-4500
annina(at)beddit.com
or
Rocket Science PR (for Beddit)
Renee Newby-Friedman, +1 415-464-8110 ext. 213
mobile: +1 757-651-6554
renee(at)rocketscience.com
or
Beddit Europe:
Ida Lönnroth, +358 50 50 60 723
Communication Lead
ida(at)beddit.com
or
Netprofile (for Beddit)
Juha Frey, +358 40 57 24 674
juha(at)netprofile.fi