San Francisco-based Misfit Wearables has partnered with several smartwatch makers, including Pebble, to actually include its app in those smart devices.
Vu said that if people are going to buy a smartwatch, they are not going to also buy a wearable fitness tracker, so it makes sense to include its activity tracking software on as many smartwatches as possible, including the Apple Watch.
"I won't say further, but watch out for the Apple Watch launch and see if you see anything interesting," Vu said.
"Our view is have at it smartwatches, whichever ones come out we are going to want to integrate with them. Because for us, we make some money on our hardware. But that's not what is going to get the venture returns that we signed up for. It's the data and the analytics and the services that we can sell from that."
Paul Landau, founder and CEO of U.K.-based wearable company Fitbug, said that his company is also working to integrate some of its software in other companies' hardware in order to make money from the data. Specifically, Fitbug created a digital coach service called Kiqplan that helps people reach their fitness goals.
While Fitbug sells its own wearable devices, it opened up its Kiqplan platform about a year ago so that it works with devices that have been traditional competitors, including Jawbone, Samsung, Withings and Misfit Wearables.
"Essentially we are moving to the next chapter of wearables. So we are really excited about Apple Watch coming out. I think if it gets the traction we think it will get, it will give a really exciting boost to the sector as a whole. But we will find out on April 1," Landau said.
"It will bring more people into the category and then it is our job to make that hardware even more useful for people by putting that data to work and helping them achieve their goals."