Fitness-wristband maker Jawbone raises $113 million

Reuters SAN FRANCISCO, Sept 12 – Jawbone, the maker of the fitness-tracker Up, has raised $113 million in debt and equity financing.
The funds raised by San Francisco-based company comprise $93 million in debt financing, a spokesperson said, plus about $20 million in equity financing. The news was first reported by Fortune.
In the short term, the company will use the cash to meet demand for its products, particularly its Up devices, wristbands that track metrics such as physical activity and sleep patterns, the spokesperson said. Longer term, it will provide general working capital, the spokesperson said.
The debt financing came from Silver Lake, Fortress Investment Group, J.P. Morgan, and Wells Fargo, while the equity financing came from existing venture capital backers Andreessen Horowitz, Kleiner Perkins, Khosla Ventures and Sequoia, the spokesperson said.
Earlier this year, the company paid upwards of $100 million to acquire Pittsburgh-based health-tracking company BodyMedia. Before the latest round, Jawbone had raised more than $200 million.
Jawbone is also known for its headsets and speakers.