OMsignal Inc has secured $10 million in a Series A financing round led by U.S. venture capital firm Bessemer Venture Partners. Bessemer was joined in the deal by existing investors, including Real Ventures, Mistral Venture Partners, Golden Venture Partners, Techstars‘ managing partner David Cohen, Flextronics and Primera Capital. Founded in 2011, the Montréal-based OMsignal is a provider of smart clothing technology and the maker of Biometric Smartwear, clothing that includes sensors to track fitness, health and performance. The company will use the new funds to achieve greater scale and take wearable technology to a wider consumer base.
OMsignal Raises $10 Million Series A Round From Bessemer Venture Partners
MONTREAL, QC–(Marketwired – Jun 24, 2014) – OMsignal, the leader in smart clothing technology and maker of the first-ever collection of Biometric Smartwear, today announced it has raised a $10 million Series A investment led by Bessemer Venture Partners (BVP). Also participating in this round are existing investors including Real Ventures, Mistral Venture Partners, Golden Venture Partners, David Cohen (managing partner, Techstars), Flextronics (FLEX) and Primera Capital.
Rob Stavis, partner of BVP, and Ori Sasson, partner of Primera Capital, are also joining the company’s board of directors.
OMsignal was founded in 2011 by Frédéric Chanay and Stéphane Marceau on the vision that clothing is the ultimate wearable medium, the only wearable we have been wearing our entire life and that smart clothing will help people be healthier, fitter and happier.
“Smart clothing will become a pervasive and normal aspect of consumers’ lives,” said Stéphane Marceau co-founder and CEO of OMsignal. “Following the recent launch of our Biometric Smartwear collection, we are continuing to receive orders from all over the world, developing new designs and working with top partners to bring our technology to an even wider consumer base. This new funding as well as BVP’s track record in taking disruptive technologies to the masses will further help OMsignal in achieving its company intent at scale and to continue to drive the next evolution of wearable technology.”
“Smart apparel is the next frontier of the wearable revolution and OMsignal’s technology is breaking new ground with a full software stack that provides users with highly accurate and valuable data insights for fitness and daily health,” said Rob Stavis, partner at Bessemer Venture Partners. “OMsignal has the component technologies to become a standard technology for data extraction in the apparel industry and we are excited to work with Stéphane and the OMsignal team as they change the way we think about clothes.”
OMsignal’s team is comprised of scientists, software and hardware engineers, fashion designers, intelligent textile specialists, product and UX experts, and has developed a pioneering platform in bio-sensing clothing. The first collection of Biometric Smartwear included four shirts that track your performance, health and fitness via health sensors embedded into the fabric. These sensors are connected to a small electronic module on the shirt and send your activity, physiological stress and fitness levels to the OMsignal mobile app in real-time, giving you total insight into your health.
For more information on OMsignal, please visit: http://www.omsignal.com/.
OMsignal designs Biometric Smartwear that tells you what’s up with your body so you can better yourself daily. The leading product is a collection of biometric smartwear shirts that track your fitness performance as well as your health and wellness every day, so that you can push your fitness and make live a healthier life. For more information and to order your OMsignal shirt, visit: http://www.omsignal.com.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya and Sao Paulo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, Cornerstone OnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public. Learn more at bvp.com and follow us on Twitter @BessemerVP.
Inner Circle Labs for OMsignal
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