Back in November, Basis officially took on Jawbone, Nike and Fitbit, releasing its long-awaited wrist-based mobile health tracker. Capitalizing on the popularity of the Quantified Self Movement, the $200 sensor-happy Basis band its accompanying web dashboard allow novices and fitness enthusiasts alike to easily track their activity, skin temperature, heart rate, calories burned, sleep patterns and more.
The initial demand for the mobile health tracker has been high, and shortly after its launch, the company was forced to shut down the store on its website and tell customers it had sold out of its first batch, as it scrambled to fill its initial orders. Today, Basis is getting some help in that regard, announcing that it has raised $11.5 million of fresh funding to help it accelerate production and meet that early customer demand.
The series B round was led by Mayfield Fund with contributions from existing investors, including DCM and Norwest Venture Partners. As a result of the round, Mayfield Fund Managing Director Tim Chang (a long-standing supporter and investor) will be joining the startup’s board of directors.
Over the last year, the market for health tracking gadgets has become increasingly crowded, as startups look to capitalize on growing consumer interest in mobile health and wellness devices that help them lose a few pounds, get in shape or just get a better night’s sleep. While Basis is looking to distinguish itself from the competition by offering a greater array of sensors and a deeper web analytics product, it’s also now getting some help from some big-name advisors.
Today, Basis also announced that it is adding the well-known healthy living expert, Deepak Chopra, along with long-time healthtech investor and analyst, Esther Dyson, to its advisory board.
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