Foundry Leads Round In Fitbit

Boulder-based venture investor Foundry Group has led a new round in fitness device maker Fitbit, according to Fitbit this morning. Fitbit said it raised $12M in a Series C funding, led by Foundry Group and True Ventures, along with its other prior investors, SoftTech VC and Felicis Ventures. Fitbit makes wirelessly connected devices for tracking health and fitness, an area that has been of great interest to Foundry, and in particular to Managing Director and marathoner Brad Feld. Fitbit said the funding will go towards hiring hardware and software engineers, designers, product managers, and marketers. The firm is based in San Francisco. More information »