Founded in 2011 by Silicon Valley billionaire Peter Thiel, the two-year program offers young entrepreneurs $100,000 to skip or drop out of college to pursue their dreams. The Fellowship said it does not take any ownership stake in the projects.
Proud was the first fellow to exit a company, selling in 2012 Giglocator, a concert-tracking website he started when he was 17.
He subsequently founded Hello, originally with a vision of making a better activity-tracker, which turned to the sleep space. In 2014, Hello launched a Kickstarter campaign with a goal of $100,000 — and made $2.4 million in a month.
The Forbes profile said Proud has since raised about $40 million for his startup, which has an estimated $250 million valuation. He owns about half of Hello.
In the bigger picture, Proud told CNBC he sees his products helping people live healthier and more productive lifestyles.
With all the talk about how to make health-care less expensive, he said, "I think there's a huge conversation being missed around preventative" medicine, he argued. "It's a lot cheaper to prevent being sick."