Jawbone raises $250 million, valuing company at $3.3 billion
Jawbone, a maker of headsets and a fitness-tracker product, is in the process of raising $250 million in a deal that would value the company at $3.3 billion, a source familiar with the deal said on Thursday.
Rizvi Traverse Management, the New York private-equity fund known for its investments in Twitter and payment-service firm Square, is leading the round, the source said.
San Francisco-based Jawbone last raised $90 million in debt plus $20 million in equity in September. Not including the latest round, investors have poured around $370 million into the business, known for its wireless speakers, headsets and its wristband fitness-tracker, Up.
(Read more: Wearable smart bands set for 350% growth in 2014)
A spokeswoman for Jawbone did not immediately respond to a request for comment.
Existing backers include Andreessen Horowitz; Kleiner Perkins Caufield & Byers; Khosla Ventures; and Sequoia Capital.
The news was first reported by the online news site Re/code.