Venture-Backed Startup Owlet Gains $24 Million in Series B Funding
Owlet Baby Care closed a $24 million Series B round led by Trilogy Equity Partners, with participation from existing investors Eclipse Ventures, Broadway Angels, and Enfield Ventures, and the addition of Pelion Venture Partners.
According to the company, Owlet is best known for its flagship product, the Smart Sock baby monitor, which uses pulse oximetry to track a baby’s heart rate and oxygen levels while sleeping. In 2017, Owlet launched the Connected Care platform, which provides parents with comprehensive data analysis and trends based on biometric information about their baby, including heart rate, oxygen levels, sleep trends, and notification history.
With two new products slated for release in 2018, the company plans to use the funding to accelerate its growth, continue international expansion, and increase product accessibility.