Wednesday, December 19, 2012

LUMO Bodytech Gets $5M

Palo Alto-based LUMO BodyTech, a developer of sensors, devices, and software which monitors a user's posture to help improve back health and reduce back pain, has raised $5M in a Series A funding round. The round was led by Madrona Venture Group, and also included Innovation Endeavors and Jerry Yang. The firm said the funding will go towards sales, marketing, product development, and engineering. The firm is led by Monisha Perkash, and develops devices which send information on a user's posture via Bluetooth to a mobile app; that app helps users become aware of bad posture. The firm also is backed by Morado Venture Partners. More information »