Jiobit Completes an Oversubscribed $2M SAFE Round of Financing

In May 2021, Lab-137 client Jiobit Inc. completed and oversubscribed a $2MM SAFE round of financing.  Lab-137 served as placement agent.

Jiobit provides families a comprehensive safety solution for life on the go. The company’s patented technology combines hardware and software into a comprehensive solution to monitor loved ones.

 “The Jiobit technology enables precise location monitoring and adds critical flexibility through extended run times and the ability to select the most efficient communications protocol,” said Laurence Hayward of Lab-137.  “We were thrilled to have the opportunity to work with a world class Jiobit team and glad we could close the round quickly for them.”

The initial plan was to use the SAFE as a bridge to the next round of financing for which Lab-137 was also engaged.  However, in August 2021, Jiobit was acquired by Life360 providing an early and successful exit opportunity to participants in the SAFE.  The announcement can be found here:  https://www.jiobit.com/blog/life360-completes-acquisition-of-jiobit