Owlet Closes $24M Series B Round
Ladies and gentlemen, I bring good tidings from the world of babies, smart monitors, and parental care. Owlet woke up this morning and found $24 million stuffed in their socks, carefully arranged by investors both lead (Trilogy Equity Partners) and participant (Eclipse Ventures, Broadway Angels, Enfield Ventures, Pelion Venture Partners). Not too long ago, Owlet woke up and found $15 million gently placed beneath their pillow. This series of events leads us to a logical question: should the fine folks of Owlet be induced into a Rip Van Winkle-esque, 20-year slumber, guaranteeing they wake to all the world’s riches laid at their feet? I say yes but I’ve also had trouble sleeping lately, it seems awesome to be able to get a little shut-eye while also padding the old bank account. I really do need some sleep. And money. This is an unpaid job, I haven’t received anything in 3.5 years. That’s probably contributing to my lack of sleep. Life is stressful, you guys. It really is. Count your blessings, whether sleep-based or financial. Be nice to people and cloth your children’s feet in smart socks, track their vital signs through pulse oximetry and know they will sleep well while you will not.
Kurt Workman, Owlet Co-Founder and CEO:
“As a company of parents, it is important to us to bring innovative technology into a family’s everyday life. This new round of funding will enable us to expand our product line, looking at ways we can support the health and wellness of families at all stages, from pregnancy on, as well as increase the brand’s availability internationally and improve our accessibility and affordability. We are very grateful for the continued support of our investors Trilogy Equity Partners, Eclipse Ventures and Broadway Angels, who help make achieving our big vision and mission possible.”
Owlet released their Smart Sock in 2015 and continues pushing product line expansion, slated to release two new products this year. In conjunction with the funding, Trilogy Equity Partners Managing Director Amy McCullough joins the Owlet board of directors.