Jawbone builds consumer fitness trackers and wearable devices. The company confirmed a new $165M funding round from The Kuwait Investment Authority to fund operations, growth, and bring new products to market. It has created a 30 percent equity pool for current employees and earlier this year cut about 4 percent of its workforce. Jawbone declined to disclose a valuation for the round, though previous rounds had pegged its valuation around $3.3 billion and the new round is almost half the size of one raised in April 2015. To date the company has raised more than $1 billion, and prior investors include Andreessen Horowitz, Sequoia, Khosla, Kleiner Perkins, BlackRock, and others. The company has sued rival Fitbit alleging employee and trade secret theft, which Fitbit has denied. President Sameer Samat is leaving to rejoin Google but will remain an advisor and investor, while CEO Hosain Rahman and CFO Jason Child will share Samat’s responsibilities. Jawbone builds consumer wearable devices and associated software, focused on activity trackers. Its most recent wearables launched months late and have drawn unfavorable user reviews for performance relative to price. The company says it has strong demand, plenty of cash and an exciting product pipeline. Bloomberg reported Jawbone took a $300 million loan reportedly from Blackrock Investments that was secured by current and future licenses, intellectual property, royalties, accounts receivable and revenue from IP or licenses; Jawbone later said the $300 million came by way of a convertible note. Jawbone faces intense competition from Fitbit, whose IPO prospectus cites an 85% share of the connected activity tracker market. The company is also pursuing legal action against Fitbit, alleging recruited employees stole confidential information. Jawbone is best known for its compact Jambox speaker but also offers a line of fitness-tracking bracelets and Bluetooth headsets. The company reports a $600 million revenue run rate projected forward 12 months, with most revenue coming from the Jambox. Jawbone recently completed a large financing as it amasses cash ahead of an intended public offering. Management is positioning the raise as a final financing before starting on the path to an IPO, aiming for a more successful gadgets IPO than GoPro. The company remains independent and is not in serious acquisition talks with Google. Founder Hosain Rahman is mentioned in the coverage and is reported to be friends with Google CEO Larry Page. Jawbone develops wearable technology and audio devices, including Bluetooth headsets and wireless speakers. Its product portfolio includes the NoiseAssassin noise‑eliminating technology, the Jawbone ERA and ICON Bluetooth headsets, and the JAMBOX wireless speaker and speakerphone. The company is led by founder and CEO Hosain Rahman. According to the report, Jawbone raised significant financing in 2013, reflecting its capital needs and investor interest. The financing structure included both equity and debt components from multiple institutional investors. Jawbone builds consumer hardware products including the Jawbone UP, the ERA headset and the Jambox speaker. The company announced a $40 million financing from Kleiner Perkins Caufield & Byers, Deutsche Telekom, private investor Yuri Milner and J.P. Morgan Asset Management, bringing its total funding to $162 million. The article highlights Jawbone's design-forward products and suggests strong prospects heading into 2012, despite noting "some notable bumps along the way." Hosain Rahman is identified in the article as the UP founder. The article does not report operating metrics, a valuation, or specific use of proceeds.

Total raised

$987M

Funding rounds

9

Latest round

Equity

Latest activity

Jan 2016