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Fitbit Raises $43 Million, Says It Will Accelerate Hiring

The $43 million follows big rounds by health-tech competitors Withings and MyFitnessPal.

Fitbit Raises $43 Million, Says It Will Accelerate Hiring

Fitbit, which helped pioneer a blossoming health-tracking space, has raised $43 million in a series D round led by Qualcomm Ventures, SAP Ventures, and SoftBank Capital. The San Francisco-based company tells Fast Company it plans to use the capital to hire engineers, designers, product managers, data analysts, and marketers.

Named one of Fast Company's 50 Most Innovative Companies in 2012, Fitbit has expanded its retail footprint to 15,000 stores in the U.S. in the last year and has also increased its presence in Europe, the Middle East, Africa, and Asia Pacific.

The health-tech space has witnessed an explosion fueled by investment dollars. Last month, Withings raised $30 million, and earlier this week, boostrapped MyFitnessPal secured $18 million in its first round of funding.

[Image: Alice Truong]