LUMO BodyTech, a Palo Alto, CA-based smart sensor and big data company which creates health apps, has closed a $5m Series A funding.
The round was led by Madrona Venture Group, with participation from Eric Schmidt’s Innovation Endeavors, and Jerry Yang.
The company plans to use the funding to accelerate investments in sales and marketing, product development and engineering.
Founded in 2011 by Monisha Perkash, CEO, Charles Wang and Andrew Chang, LUMO BodyTech provides LUMOback, a smart sensor and smartphone app that encourages small behavioral changes that can yield meaningful improvements in posture and overall health. LUMOback uses a lightweight sensor to track posture and movement, and provides a vibration reminder (via Bluetooth to a mobile application) to the wearer when he/she slouches or sits for extended periods. It also uses real-time feedback and data visualizations to inspire improvements in posture and increased mobility. it will be available for retail in early 2013.
The company also raised $200.5 k via Kickstarter (read here).
FinSMEs
19/12/2012