Lumo BodyTech, a smart sensor and big data company has closed a $5 million Series A round led by Madrona Venture Group. Backers for this round also include Innovation Endeavors, Eric Schmidt ‘s investment fund, and Jerry Yang . The company says it will use the funding to accelerate investments in sales and marketing, product development and engineering.
Founded in 2011, Lumo BodyTech uses smart sensors and software to help people improve their health. Lumoback, the company’s first product, is a wearable sensor and smartphone app for posture. The company was founded by Stanford entrepreneurs Monisha Perkash , Dr. Charles Wang, and Andrew Chang. It is backed by Madrona Ventures, Innovation Endeavors, Morado Venture Partners, and Jerry Yang ‘s AME Cloud Ventures.