Axon Labs Becomes Zeo Inc. and Announces $8.3 Million in Series C Venture Financing

Fri Jan 16, 2009 8:35am EST

* Reuters is not responsible for the content in this press release.

New Leader in Sleep Technology Poised For Significant Growth in 2009
BOSTON--(Business Wire)--
Newton-based Axon Labs, a leading innovator in sleep education and motivational
sleep coaching technology, has announced its name change to Zeo Inc. on the
heels of receiving $8.3 million in a Series C financing. The financing was led
by Trident Capital of Palo Alto, Calif., and includes additional investment from
iD Ventures America, the company`s Series B lead investor. 

"Our team is confident this continued support from our valued investors
underscores our future success," said Zeo Inc. CEO Dave Dickinson. "We look
forward to delivering a new and powerful kind of sleep education and coaching
technology to the marketplace in 2009." 

Zeo Inc.`s Series C financing reflects the significant progress Zeo Inc. has
made in preparing its lead product for introduction into the large and
fast-growing sleep, health and wellness industries. With its latest round of
financing, Zeo Inc. will complete final development of Zeo, the first personal
sleep coach, and use the proceeds to enter into the estimated $23.7 billion
sleep product market later this year. 

"We are committed to helping Zeo Inc. grow as they move to launch their highly
anticipated sleep technology platform," added Peter Meekin, managing director at
Trident Capital. "As an emerging thought leader in the growing sleep industry,
Zeo has great potential to truly revolutionize the way we approach sleep in our

Since its founding in 2003, Zeo Inc.`s patent-pending, SoftWave sensor
technology, which enables consumers to discover both the quantity and quality of
their personal sleep patterns, has already generated significant interest within
the sleep science and sleep research community. Zeo Inc. has raised more than
$14 million to date, led by investments from venture capital funds, Trident
Capital and iD Ventures America, and significant contributions from a number of
angel investor groups and individuals within the United States and abroad. 


The mission of Zeo Inc. is to help people to discover new, scientifically-based
ways to improve the quality of their lives through the power of sleep. We will
accomplish this by combining breakthrough educational sleep technology and tools
with proven coaching methods from both sleep science and behavioral science. For
more information, visit 


Trident Capital is a leading private equity and venture capital firm committed
to empowering entrepreneurs to build innovative and industry leading businesses.
Founded in 1993, the firm manages over $1.6 billion of capital in a focused
effort to develop world class information services and software business. Our
team has invested in more than 150 companies since inception, including market
leaders such as CSG Systems, Viant, Mapquest and iRobot. Trident invests in
companies independent of size or stage of growth. We leverage our experiences,
industry expertise and contacts to guide talented entrepreneurs to market
success. Trident has offices in Palo Alto, Calif. and Westport, Conn. For more
information, visit 


iD Ventures America, LLC (formerly known as Acer Technology Ventures America,
LLC) is a venture capital business unit of iD SoftCapital Group, a group
established by Acer founder Stan Shih and former Acer senior management to offer
consulting services, and asset and venture fund management. iD Ventures
America`s mission is to facilitate the Intellectual Development of the New
Economy through venture investing. We apply our industry experience, market
knowledge, and supply chain relationship to assist many young start-ups to their
eventual success including companies such as ArtX Inc., iRobot, Harmonix Music,
and Monolithic Power System. 

For Zeo Inc.
Shawna Sullivan, 617-646-3336
Mobile: 978-273-8478

Copyright Business Wire 2009

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