September 29, 2010

Foundry Group backs San Fran firm

BOULDER – A San Francisco-based company with a $99 device that measures how many calories you burn recently received $9 million from the Foundry Group, a venture capital firm in Boulder.

Consumers can wear the Fitbit tracker on their clothes. It has a 3-D motion sensor that also measures how many steps you take and how well you sleep, among other things. Two other venture capital companies also invested in Fitbit, Brad Feld, a managing partner in the Foundry Group, wrote in a blog post.

“Over the past year, we bought numerous products in a search for the best company in a market – human instrumentation – that we believe will explode over the next decade,” Feld said in the blog post. “With Fitbit, we believe we have found it.”

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The Foundry Group was launched in 2007 with $225 million. It is run by Feld and three other managing partners. The firm has invested in more than 120 companies, according to its website. Feld previously started Mobius Venture Capital Inc. in Boulder.

BOULDER – A San Francisco-based company with a $99 device that measures how many calories you burn recently received $9 million from the Foundry Group, a venture capital firm in Boulder.

Consumers can wear the Fitbit tracker on their clothes. It has a 3-D motion sensor that also measures how many steps you take and how well you sleep, among other things. Two other venture capital companies also invested in Fitbit, Brad Feld, a managing partner in the Foundry Group, wrote in a blog post.

“Over the past year, we bought numerous products in a search for the best company in a…

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