There is very little doubt that the wearable tech market is only getting more popular the farther we go into the 21st century. While Jawbones and Fitbits are still leading the way with more fitness applications coming all the time, the market has also turned to designer labels more than ever before in order to put a product out that looks good as well as serving a very specific purpose.
Strap, one of the leading analytics platforms for wearable tech is looking to make itself even more powerful with the infusion of more than $1.25 million in seed money. The company says the money will fuel the company’s growth through product development, which will also increase the number of partnerships with developers, enterprises and a number of brands.
“We are very fortunate to have a great group of investment partners on board with us,” said Steve Caldwell, co-founder and CEO of Strap in a recent statement announcing the funding. “The wearables market is poised for hockey-stick growth in the next 12 months, but challenges of fragmentation and increasing data points make it very difficult for existing app developers and stakeholders to jump in with both feet. We are in a perfect position to grow our world class suite of tools and platforms to lower the barrier to entry in the growing wearables ecosystem.”
With the influx of capital, the company also wants to be able to expand its offering in what kind of analytics it can measure.
Edited by Maurice Nagle
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