Jawbone Secures $70M in Growth Funding From J.P. Morgan Asset Management
Jawbone to Expand its Products and Services for the Mobile Lifestyle
SAN FRANCISCO, July 12, 2011 /PRNewswire/ -- Jawbone, a leading innovator of products and services for the mobile lifestyle, today announced it has secured $70 million in funding from investors advised by J.P. 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 $170 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," said Larry Unrein, managing director of J.P. 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 J.P. Morgan Asset Management is fantastic for us as we continue to rapidly expand our business," said 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 J.P. 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," said 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 J.P. 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.
For more information, images and product demos, please visit www.Jawbone.com/Press, or follow @Jawbone on Twitter.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under supervision of approximately $1.9 trillion and assets under management of $1.3 trillion (as of 3/31/11), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated, and J.P. Morgan Alternative Asset Management, Inc.
For more than a decade, Jawbone has developed products and services for the mobile lifestyle unparalleled in their innovation, ease-of-use and sophistication of design. The company is the creator of the award-winning and best-selling premium Jawbone ICON™ Bluetooth headset; the inventor of NoiseAssassin® technology, the world's first and only military-grade noise-eliminating technology; JAMBOX, the first intelligent wireless speaker and speakerphone; as well as THOUGHTS, a free mobile service that allows users to utilize their voice in a new way. A 2010 IDSA Design of the Decade winner, Jawbone is committed to delivering innovative products that improve the mobile lifestyle through ever-changing software and wearability. Jawbone is privately-held and headquartered in San Francisco.
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