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Nanit Secures $21 Million in Growth FundingNEW YORK, May 12, 2020 /PRNewswire/ -- Nanit, the company behind the most advanced smart baby monitor and sleep tracker, today announced the completion of $21 million in financing, even as COVID-19 has developed into a global pandemic. Led by existing investors Jerusalem Venture Partners (JVP), Upfront Ventures, RRE Ventures, and Rho Capital Partners, this funding brings the company's total capital raised to $50 million. Nanit will use the proceeds for the next phase of its product development and to further grow its global footprint. Nanit's consumer success has been driven by its ability to keep families connected. Nanit parents are able to loop friends and families into the parenting team, so everyone can feel together even if they can't be there in person. During the COVID-19 pandemic, this has become an essential feature for families with grandparents, aunts, uncles and others making up 20% of Nanit's active users - demonstrating how important the solution is for families separated by a few blocks or even countries. Sarah Dorsett, CEO of Nanit said, "The company has experienced incredible growth from 2018, and our recent funding points to the confidence and demand in the marketplace for innovative consumer products. Having a baby is one of the most significant life moments not only for parents but for the entire family. We are so fortunate to be able to use our technology to keep families connected and sharing in this precious new journey, no matter where they are." "We've increased our commitment to Nanit as we believe the Company is strongly positioned to take advantage of the rapid growth in the connected nursery industry. Nanit uses artificial intelligence and computer vision to truly revolutionize the sleep category; a crucial dimension of the wellness industry. The coronavirus crisis has demonstrated once again how important technology is for families to stay connected," said Erel Margalit, Founder, and Chairman of JVP. "We are sure the unique solution and advanced technology will be futher expanded into new and exciting product lines." Over the past year, Nanit's exponential growth can be attributed to numerous factors:
"Nanit has solved the age-old problem of teaching your baby to fall asleep. The company's products are expanding our understanding of "life in the crib" and giving families more ways to share in the joy of parenting. The company has achieved incredible product-market fit and we believe Nanit is well-positioned to address a wide range of health and wellness questions for families and physicians," said Will Porteous, General Partner, RRE Ventures. About Nanit Media Contact:
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