Codoon Funding, Investors & Competitors

Codoon has raised $130M across 5 funding rounds, most recently a $20M strategic investment round in December 2021.

Last Codoon funding round

$20M

Strategic investment · Dec 2021

Cumulative funding Codoon raised

$130M

across 5 funding rounds

Key investors in Codoon

  • SBCVC
  • SIG China (SIG Asia Investments)
  • Shenzhen Capital Group
  • CITIC Capital Holdings
  • FountainVest Partners
  • Focus Media
  • Fu Ding He Private Equity
  • APEC

Codoon Overview

About Codoon

Codoon is a Beijing-based sports and wellness provider operating Codoon.com and related apps. It manufactures fitness trackers, hand bracelets, and plans wireless heart rate monitors alongside slimming scales. Through Internet-of-Things integration, the company monitors user sports, sleep, and health data, storing personal profiles in cloud storage while fostering an online community for sports and healthy lifestyles.


Founded

2009

HQ

ChinaChengdu

Website

codoon.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales, Subscription

Codoon Funding History

Codoon has raised a total of $130M across 5 funding rounds.

Codoon's first fundraising round was a $10M Series A in March 2014. The most recent completed round was a $20M strategic investment round in December 2021.

Codoon funding rounds

Codoon funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2021Strategic investmentHuaying Securities (lead)$20M-
Feb 2018Series CAPEC (lead); Fu Ding He Private Equity; SBCVC$20M-
May 2016Series CFocus Media (lead); FountainVest Partners (lead); SBCVC; SIG China (SIG Asia Investments)$50MCodoon is a Chinese sports and wellness service provider founded in 2010 that integrates mobile apps and wearables, creating smart devices such as fitness bands and weighing scales, and organizing online sports events. The company had grown to over 50 million users by the time of its Series C funding, positioning itself as the largest online, mobile, and social networking platform for sports in China. In May 2016, Codoon closed a $50 million Series C round led by the Focus Media-FountainVest Sports JV, a $400 million investment fund established by Focus Media and FountainVest Partners specifically focused on the sports sector. The round also included participation from existing investors Susquehanna International Group (SIG) and SBCVC, which had previously co-invested $30 million in the company's November 2014 Series B round. The capital was designated for increasing online content offerings, developing the company's big data platform, and boosting its online sports event franchise, with Focus Media and FountainVest providing additional support through access to advertising resources and their combined user base. Codoon's funding history included a $10 million Series A from Shenzhen Capital Group and CITIC Capital in March 2014, establishing a total raised amount of $90 million by the end of Series C.
Nov 2014Series BSBCVC (lead); SIG China (SIG Asia Investments) (lead)$30M-
Mar 2014Series AShenzhen Capital Group (lead); CITIC Capital Holdings$10MCodoon, a Chengdu, China-based company founded in 2010, develops smart fitness-tracking wearables. In March 2014, it raised $9.8 million in Series A funding led by Shenzhen Capital Group, with participation from CITIC Capital. This followed a prior $3.6 million investment from Shanda in 2011.

Who has invested in Codoon?

9 investors have backed Codoon across its funding rounds, including SBCVC, SIG China (SIG Asia Investments), Shenzhen Capital Group, CITIC Capital Holdings, FountainVest Partners and Focus Media.

Lead investors include Huaying Securities, APEC, Focus Media, FountainVest Partners, SBCVC and 2 other investors.


Codoon Investors

Investors in Codoon by funding rounds participated
InvestorHQRoundsRoleFirst check
SBCVCChinaShanghai3LeadNov 2014
SIG China (SIG Asia Investments)ChinaGuangzhou2LeadNov 2014
Fu Ding He Private EquityChinaChina1ParticipantFeb 2018
FountainVest PartnersHong KongHong Kong1LeadMay 2016
Shenzhen Capital GroupChinaShenzhen1LeadMar 2014
Focus MediaChinaShanghai1LeadMay 2016
APECTaiwanHsinchu1LeadFeb 2018

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Codoon Competitors

Codoon competitors include listed companies like Sleep Cycle, Keep Inc. and Garmin, and private ones like Icon Health Fitness, Oura and Tonal.

Public and private companies comparable to Codoon
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Icon Health FitnessUnited StatesLogan, UTPrivate$1B-$7B7.0x
Sleep CycleSwedenSwedenPublicly listed$24M$7M$44M1.5x
OuraFinlandOuluPrivate$500M-$11B22.0x
TonalUnited StatesSan Francisco, CAPrivate--$575M-
Keep Inc.ChinaChinaPublicly listed$244M($8M)$82M-
GarminUnited StatesUnited StatesPublicly listed$7.2B$2.1B$53B6.4x

Codoon Public Comps

Codoon is still privately-owned, but its public comps include Apple, Meta, Samsung, Garmin, Bending Spoons, Huaqin Technology, Huaqin Co, Goertek, Kakao and Match Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Apple$416B$144B11.9x10.4x34.2x29.4x
Meta$201B$104B8.8x7.4x17.0x12.7x
Samsung$243B$67B4.4x2.4x15.8x4.4x
Garmin$7.2B$2.1B7.0x6.4x24.4x21.7x
Bending Spoons$2.6B$520M11.0x-54.9x-
Huaqin Technology$26B$887M0.7x0.6x19.5x16.8x
Huaqin Co$26B$900M0.6x0.5x16.5x14.4x
Goertek$14B$1.2B0.8x0.8x10.0x11.5x

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Common questions about Codoon

When was Codoon founded?Codoon was founded in 2009.
Where is Codoon headquartered?Codoon is headquartered in Chengdu, China.
Is Codoon publicly listed?No, Codoon is a private, VC-backed company.
How much funding has Codoon raised?Codoon has raised $130M across 5 funding rounds.
What was Codoon's last funding round?Codoon's last funding round was a $20M strategic investment round in December 2021, led by Huaying Securities.
Who are Codoon's investors?Codoon's investors include SBCVC, SIG China (SIG Asia Investments), Fu Ding He Private Equity, FountainVest Partners, Shenzhen Capital Group, Focus Media, APEC, CITIC Capital Holdings and Huaying Securities.
Which companies are comparable to Codoon?Companies comparable to Codoon include Icon Health Fitness, Sleep Cycle, Oura, Tonal, Keep Inc. and Garmin.

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