Jawbone, a leading innovator of products and services for the mobile lifestyle, has secured USD70 million in funding from investors advised by JP Morgan Asset Management.
Jawbone is one of the largest privately-held, venture capital-backed consumer electronics companies in the world, and this round brings total investment in Jawbone close to USD170 million to date. The funding will allow Jawbone to continue its rapid growth and expand into new markets and categories, building on its successful portfolio of premium mobile products and services.
"We seek to invest in the best high-growth companies," says Larry Unrein (pictured), managing director of JP Morgan Asset Management. "Given the widespread adoption of smartphones globally, we are seeing a massive shift in user expectations around having a complete, high-quality and seamless experience wherever they are. Jawbone, with its long-standing expertise in mobile user experience, has been delighting customers by enabling them to get the most out of their smartphones through a combination of cutting-edge technology and great design. We believe Jawbone is poised to be the next great mobile computing company coming out of Silicon Valley."
"Funding from JP Morgan Asset Management is fantastic for us as we continue to rapidly expand our business," says Hosain Rahman, CEO of Jawbone. "As people’s digital lives become increasingly centered around mobile devices, we see no shortage of opportunities for our technology and products to unlock the potential of a full mobile experience. The support of JP Morgan Asset Management will help us be even more aggressive in our pursuit of these opportunities."
Jawbone’s innovation has resulted in unprecedented demand for its products and services on a global scale. The company is known for leading and disrupting categories with its breakthrough software, strong commitment to design, and award-winning products.
"Jawbone is one of the most important mobile companies with which Sequoia Capital has partnered," says Roelof Botha, partner at Sequoia Capital and Jawbone board member. "Jawbone’s relentless building of great products that consumers love gives the company a unique ability to redefine established markets. We are delighted to have JP Morgan Asset Management on board."
Jawbone first made its mark in the industry by creating an entirely new class of intelligent Bluetooth® headsets, and has successfully expanded its portfolio of products for the past decade. The JAMBOX Smart Speaker is one of the best-selling speakers globally, and the recently-launched Jawbone ERA headset is the first to include HD audio and motion sensors.
