Pebble Time has successfully made it through another round of Kickstarter campaign funding raising $20 million, which will go toward the production.
Pebble Time had yet another successful round of funding come from their Kickstarter campaign, which totaled a massive $20 million. The startup has been one of the most popular and successful ventures, which has ever been run through Kickstarter, and rightfully so. The wearable has successfully deviated from what the overall brand sells, and at the same time – done enough of the things that consumers want to not just be a novel product.
The Kickstarter was listed as having a little over 78,000 backers, but that isn’t truly what the numbers worked out to. In fact, they worked out a little better for Pebble in terms of how many preorders they actually had. In all, Pebble Time saw 95,906 total preorders for their devices. They were split up between the Pebble Time, and Pebble Time Steel, which saw 58,966, and 36,940 preorders respectively. This round of preorders is actually a little more impressive than the first, which totaled at 85,419.
The company plans to have delivered 48,690 orders by the end of May, and then have a second batch ready to hit users wrists by July. This will keep them in check with their current sales goals. The success of this round of fundraising is also interesting given the timing of the overall event. Over the course of the last several months, hype and excitement have been reaching a climax over the launch of the Apple Watch.
However, this is further proof that Pebble Time has been doing a lot better than people realize, and even performing better in specific categories than some of the bigger names. Pebble Time has prided itself on being useful, cost-effective, and something that users really do want because they know what the startup is doing behind the scenes. This is one of the first pieces of technology over the last few years – that has done exceptionally well by making consumers feel involved – as each device and prototype goes through various rounds of funding.
Historically, this is the most-funded campaign of all-time raking in $76 million since its inception in 2012. That’s saying something, too, given the fact that it was started with very low expectations. Overall, this is just another major accomplishment for Pebble, who has successfully navigated numerous exciting moments through Kickstarter.