FokusLabs Raises Seed Round To Market Distraction Assistance Device
CARY, NC (June 14th 2016)— FokusLabs announced today it has raised a $300,000 seed round investment, led by Cofounders Capital and Bootstrap Advisors. FokusLabs launched the RE-vibe™ wristband in late 2015 and is now ready to mass produce and market its new patent- pending ware-able. The wristband provides the wearer with periodic gentle vibration (based on proprietary algorithms and bio feedback) that reminds the wearer to avoid distractions and stay on task.
Inventor and founder Rich Brancaccio knows firsthand the challenges ADHD, autism and similar focus inabilities can create for students, teachers and parents. “I’ve seen the struggles these kids endure each day so I decided to tackle this problem head-on”, says Brancaccio who states that he wanted to create something that would empower kids and bolster their self-esteem by allowing them to better monitor their own distractibility. “This investment is going to help us market and improve our product adding key features requested by schools, parents and kids”, he continued”, he continues.
Brancaccio is thrilled with the investors he has garnered stating, “This is the local A-team of hands-on-investors that can really help us get this resource to the people who need it most- kids.”
David Gardner, General Partner of Cofounders Capital says, “Fokus Labs could be a real game-changer empowering parents with a new tool to help them help their children deal with distraction issues...I believe a lot of parents would want to try something like this before putting their children on medication.”
FokusLabs has already sold over 1,000 units and is in use at over 300 schools across the country. Recently, the RE-vibe wristband has been featured in numerous publications including The New York Times, What’s Next: Ideas and Innovations, Digital Trends, and Yahoo News. FokusLabs is a winner of both the 2014 fall cycle NC IDEA grant award and the Innovation Fund NC Grant. Brancaccio is the only founder to have won grants from both of the prestigious organizations after going through a rigorous application and pitch process for both.
Additional Media Coverage
Triangle Business Journal - Read More
WRAL Tech Wire - Read More
Based in Wake Forest, North Carolina, FokusLabs dedicated to helping children and adults overcome obstacles faced in the classroom and workplace by fusing psychology with technology. School psychologist Rich Brancaccio founded FokusLabs in 2013 to create specialized tools to help kids overcome their difficulties by leveling the playing field through technology. He formed FokusLabs with the goal of creating products that increase productivity and learning to better support children and their families at home and in school.
About Cofounder’s Capital
Cofounders Capital is an early stage seed fund focused on software ventures in the Triangle. Cofounders Capital is managed by serially successful entrepreneur, David Gardner with a team of over seventy advisers and volunteer mentors who are all investors in the fund, eager to support entrepreneurship in the Triangle and to help portfolio companies and entrepreneurs succeed. For more information, visit www.cofounderscapital.com
About Bootstrap Advisors
Bootstrap Advisors is a Durham-based hands-on advisory and venture firm focusing on innovative consumer products. The fund is run by a trio of local serial entrepreneurs; Ben Feldman, Chris Ng Cashin, and Jay Mebane, representing three of the original four founders behind Thundershirt. For more information, visit www.bootstrapadvisors.com
Rich Brancaccio, CEO
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