Led · Series E · Jun 2018

Led by Michael Dering, CEO, Valencell produces biometric sensor systems and provides patent-protected technology to consumer electronics manufacturers, mobile device and accessory makers, medical device makers, sports and fitness brands, and gaming companies for integration into their products. The technology, protected by more than 60 granted patents and more than 100 patents pending, can be used in wearables and hearables and is scalable to multiple form factors including earbuds, smartwatches, armbands, and wrist devices. The company is based in Raleigh, NC. Valencell secured $10.5M in Series E financing, bringing total funding to date to $35M. The round was led by Sonion a/s with participation from existing investors TDF Ventures, GII LLC, and WSJ Joshua Fund. The company plans to use the funds to accelerate investments in its biometric sensor technology and expand sales growth, and Sonion and Valencell recently announced a strategic partnership to make biometrics universal in the hearables and hearing health markets. Valencell, led by CEO Michael Dering, is a Raleigh, N.C.-based developer of performance biometric sensor technology. It licenses its PerformTek® sensor technology to consumer electronics manufacturers, mobile device and accessory makers, sports and fitness brands, and gaming companies. PerformTek employs active signal characterization to remove physical noise and extract accurate biometric information, enabling continuous heart rate, activity and other biometric measurements. The company has over 25 licensees around the world producing wearables and hearables. Valencell recently introduced BioPack™, a biometric sensor system with the PerformTek technology package ready for immediate integration into devices. It plans to use the new funding to continue growth and accelerate innovation in accurate biometric wearable technology and has raised $24.5M to date. Valencell develops PerformTek biometric sensor technology that measures biometric data “on anyone, doing anything, anywhere on the body,” aimed at improving the accuracy of fitness tracking and other wearables. The company collaborates with license partners to validate the reliability, performance and accuracy of wearable products using its technology. In February it received approvals for eight patent applications intended to support its sensor technology, including methods using light to filter noise and a photoplethysmography sensor as an alternative to ECG. Valencell says the new patents will help make calorie-burn monitoring more accurate by assessing energy expenditure without relying on footsteps. The company recently joined the National Sleep Foundation’s sleep technology council to work with other sleep-tech firms on insights and innovations. Financially, Valencell has raised capital across multiple rounds, most recently securing $2.64 million and earlier raising $7 million as part of a Series C, bringing total funding to $14 million. Valencell, founded in 2006 and based in Raleigh, North Carolina, develops performance biometric data sensor technology. Its PerformTek®-powered biometric sensors measure real-time heart rate and activity continuously and are available in multiple form factors, including ear-worn designs. The sensors target consumer electronics manufacturers, mobile device and accessory makers, sports and fitness brands, gaming companies, and headset and earbud manufacturers. Valencell's technology is currently powering four wearable products. The company has raised more than $13M in venture funding and more than $3M in grants. With newly appointed CEO Michael Dering, Valencell plans to use new funds to further technological development, sales and marketing of its sensors. Valencell’s Healthset® platform integrates vital-sign sensors directly into music earbuds and audio headsets to track heart rate, calories burned, steps taken, distance traveled, speed and other physiological metrics. Sensor data is streamed to smartphones and MP3 players via wired or wireless links, enabling live body metrics, training and coaching through mobile and online fitness applications. The company licenses its sensor technologies to industry partners for integration with brand-name consumer products across consumer mobile, fitness, gaming, mHealth and PPE markets. Valencell validated the accuracy of its sensors in a 2010 clinical study at the Duke University Center for Living and is actively signing licensing deals with strategic partners. The Series B funding will be used to expand the team, increase the number of licensing deals with strategic partners, and accelerate the product pipeline to include additional physiological monitoring capabilities. Valencell was seeded by its three founders, previously raised a $1 million Series A, and has been awarded more than $3 million in R&D grants.