San Francisco-Based Fitbit Raises $12 Million in Third Round

San Francisco -- Fitbit, the San Francisco-based developer of digital health and fitness devices, said on Tuesday it has raised $12 million in its third round of funding from previous backers Foundry Group, True Ventures, SoftTech VC and Felicis Ventures. The company said it will use the proceeds to fuel expansion. "This funding will help us accelerate the hiring of the best hardware and software engineers, designers, product managers and marketers," said co-founder and CEO James Park. Founded in 2007, Fitbit makes the Ultra Wireless Activity and Sleep Tracker, a wireless fitness tracker sold through retailers such as Amazon.com, Best Buy, Brookstone, Radio Shack, REI and Target. The company also recently introduced its Aria Wi-Fi smart scale.
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