Not everyone gets a second chance in Silicon Valley. Entrepreneur Hosain Rahman You have been given many more than that. Despite the fact that his last company, Jawbone, which produced wireless speakers and Bluetooth headphones, sold out in 2017 after spending $ 1 billion in venture funds over the course of ten years, Rahman managed to raise $ 65.4 million for his new company. . Here’s a new SEC file that, coincidentally or not, was processed late yesterday, with most of the world’s attention focused on Uber’s IPO.
The company, Jawbone Health, is not new. According to reports from two years ago and Rahman’s biography on LinkedIn, he began working seriously on his new endeavor when the original Jawbone It was running in smoke in the summer of 2017.
In fact, according to LinkedIn, Jawbone Health. now employs 51 people, including some who previously worked with Rahman. Among them is the new team’s vice president of engineering, Jonathan Hummel, who had been a senior engineering manager at Jawbone for the last two years of his life. Others are new to the organization because of its focus on healthcare. These include Yaniv Kerem, vice president of IT for Jawbone Health, whose last job was as an ER physician with Kaiser Permanente.
Certainly, the company has a very different mission than even the wearable fitness trackers that Jawbone began to perform as a sort of Hail Mary pass, and whose failure signaled the end of the wearables industry, although it was actually just the Jawbone ending.
As Rahman told reporter Kara Swisher last fall, what Jawbone Health is selling is a “personalized subscription service where we take all this ongoing health information about you and combine it with a lot of machine intelligence.” . . “
The idea is to prevent preventable diseases that end up killing two-thirds of us due to poor decision-making and simple inattention. “If you catch that early and change your behavior or whatever, you can eliminate half of those deaths and save 70 percent of the cost,” he told her, adding that Jawbone Health is Making your own devices, which will come free with the service.
However, an obvious concern for the new company is competition. Where Jawbone made its mark, wireless speakers got ahead of many other companies whose products now litter our homes, Rahman seems to be late to the party with Jawbone Health. There are already rings that track sleep activity and heart rate; wristbands that come with built-in accelerometers, heart rate sensors, and temperature sensors; and even textiles that unlock biometric knowledge.
That says nothing about the Apple Watch, which has already put many startups out of business.
Rahman says one of the biggest differentiators of Jawbone Health is that the product and service are “clinical grade.” That can be a selling point for some consumers, although we imagine most don’t mind. After all, humans don’t have the best track record when it comes to taking care of themselves.
Either way, the new funding, which already has so much lost capital, is sure to frustrate some founders who have been given fewer opportunities. It can also confuse others who have worked for or financed Rahman in the past.
On the other hand, Rahman would not be the first founder to recover from failure, and he has a lot to prove. Your new supporters may well count on it.
According to filing, Jawbone Health is backed by SignalFire and Refactor Capital in the Bay Area, and Polymath Ventures in Dubai. In his meeting with Swisher, Rahman had also said that Meraas in Dubai is an investor. In fact, he described him as the company’s “primary” investor.
We will have more on the company soon.