On Heels of Setback, Jawbone Secures $40M
Bluetooth maker Jawbone yesterday announced that it has secured $40 million in growth funding from Deutsche Telekom, Kleiner Perkins Caufield & Byers, private investor Yuri Milner, and investors advised by J.P. Morgan Asset Management.
"This new group of investors – with their world-class expertise in mobile, consumer Internet and technology, and international markets – will help us achieve the next level of expansion," said Hosain Rahman, CEO of Jawbone, in a statement.
The new capital brings Jawbone's funding from investors to date close to $210 million. The company says the additional funding will allow it to broaden its end-to-end offerings and its global footprint.
Jawbone counts Deutsche Telekom, with its presence in over 50 countries worldwide, as a “key strategic and lead carrier partner for the company’s European expansion.”
Jawbone makes everything from Bluetooth headsets and speakers to its latest fitness monitoring bracelet, the Jawbone UP.
While the company has emerged as a strong competitor in the Bluetooth market, the UP was not such a hit with consumers. Jawbone recently acknowledged a range of complaints about performance issues with the wristband. The company said it is going back to the drawing board and has cancelled all pending orders for the UP.
Beginning Dec. 9, customers were offered a full no-questions-asked refund if they are not satisfied with their UP wristband. Customers who asked for a refund were not asked to return their device.