# Lumoback

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lumoback

- Industry: Medical Devices & Equipment
- Headquarters: Palo Alto, US
- Website: www.lumoback.com
- Total disclosed funding: $16M
- Latest round: Series B (Sep 29, 2015)
- Investors on record: 5

## About

Lumoback specializes in health and wellness solutions through its innovative posture tracking device, designed to enhance user alignment and alleviate discomfort from prolonged sitting.Lumoback, also known as Lumo Bodytech, develops products focused on improving posture and wellness. The company was co-founded by Andrew Chang and is led by CEO Bastien May. Based in Palo Alto, US, the firm has raised a total of USD 10.00 mn through Series B funding on September 29, 2015, with Wuxi Huading Capital as the lead investor and participation from AME Cloud Ventures, Innovation Endeavors, and Madrona Venture Group. The company has completed 4 deals since its inception.Lumo Back offers health and wellness solutions, primarily through its core product, the Lumo Back device. This device is engineered to enhance posture and mitigate discomfort from extended sitting, utilizing motion sensors to monitor user posture and provide vibrations for real-time feedback. The company targets various customers, including those in sedentary jobs, fitness enthusiasts, and the health-conscious. Its products are available in the US, Canada, and select areas in Europe and Asia, addressing the increasing demand for ergonomic solutions.Lumo Back's revenue generation strategy is centered around direct-to-consumer sales, focusing on online transactions for convenience. Customers can purchase the Lumo Back device outright or through a subscription model that may include ongoing software updates and enhancements. The pricing is designed to appeal to a diverse customer base, including individuals and businesses emphasizing workplace wellness initiatives, reflecting the growing awareness of posture-related health concerns.The recent funding of USD 10.00 mn raised in September 2015 will support Lumo Back’s expansion efforts. The company plans to develop new products aimed at enhancing its current offerings. Additionally, there are intentions to penetrate new geographical markets, particularly targeting Europe and Asia for expansion by 2026. These initiatives are designed to leverage the increased market demand for wellness technology solutions.

## Funding rounds

- Series B, Sep 29, 2015, $10M — Madrona Venture Group, Innovation Endeavors, AME Cloud Ventures, Wuxi Huading Venture Capital
- Series A, Dec 19, 2012, $5M — Madrona Venture Group
- Seed, Apr 2, 2012, $1.1M — Morado Ventures, Innovation Endeavors

## Investors

- Morado Ventures (https://capitalatlas.ai/funds/morado-ventures) — Seed
- Innovation Endeavors (https://capitalatlas.ai/funds/innovation-endeavors) — Seed, Series B
- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Series A, Series B
- AME Cloud Ventures (https://capitalatlas.ai/funds/ame-cloud-ventures) — Series B
- Wuxi Huading Venture Capital (https://capitalatlas.ai/funds/wuxi-huading-venture-capital) — Series B