Pebble raised about $43 million across three Kickstarter campaigns and set records each time. Pebble Time reached $1 million in 49 minutes in 2015, a Kickstarter record. Then the company sold its assets to Fitbit in December 2016.
The numbers
| Pebble (2012) | $10,266,845 from 68,929 backers; goal $100,000, reached in two hours |
| Pebble Time (2015) | $20,338,986 from 78,471 backers; goal $500,000, reached in 17 minutes |
| Pebble Time speed | $1M in 49 minutes; $10.3M in 48 hours (both records) |
| Pebble 2 (2016) | $12.8 million |
| Outcome | Insolvency and asset sale to Fitbit, 6 December 2016 (reported at $23M) |
How Pebble got there
1. Kickstarter after investors said no
Founder Eric Migicovsky took the idea through Y Combinator and raised $375,000 from angels, but couldn’t raise venture capital. Kickstarter became the proof of demand investors had asked for.
2. The second campaign used the first one’s community
By 2015 Pebble had tens of thousands of owners from its first campaign. Pebble Time’s 17-minute funding came from that base, which is why its first hours beat everything before it.
3. Records as marketing
Each record (“fastest to $1M”, “most funded ever”) became a headline that brought new backers mid-campaign.
What went wrong
Pebble 2 shipments were delayed by about half a year, and in December 2016 the company filed for insolvency and sold its software and IP to Fitbit. Crowdfunding proved demand, but it couldn’t fund the costs of competing in a crowded smartwatch market.
Our take
- Your best launch is your second one, if you keep your backers engaged between campaigns.
- Plan for the press moment. A record or milestone in the first hours is the story journalists want.
- Funding isn’t a business plan. Budget for manufacturing, support and the next product before you launch.
Timeline
| April 2012 | Pebble launches with a $100,000 goal, funded in two hours |
| May 2012 | Ends at $10,266,845 from 68,929 backers |
| February 2015 | Pebble Time funded in 17 minutes, $1M in 49 minutes |
| March 2015 | Ends at $20,338,986, the record until 2022 |
| May 2016 | Pebble 2 raises $12.8M |
| December 2016 | Assets sold to Fitbit |
Apply it to your launch
- Keep your first campaign’s backers engaged between launches with updates and early access.
- Give returning backers a reason to pledge first, such as a loyalty tier.
- Plan a milestone you can announce in the first hours (for example ‘funded in 20 minutes’).
- Prepare a press release for each milestone in advance.
- Budget the business after the campaign: manufacturing, support and the next product.
How it compares with other record campaigns
| Campaign | Platform | Year | Raised | Backers | Goal |
|---|---|---|---|---|---|
| EufyMake E1 (Anker) | Kickstarter | 2025 | $46,762,258 | 17,822 | $500,000 |
| Brandon Sanderson | Kickstarter | 2022 | $41,754,153 | 185,341 | $1M |
| Pebble Time | Kickstarter | 2015 | $20,338,986 | 78,471 | $500,000 |
| Snapmaker U1 | Kickstarter | 2025 | $20,161,265 | 20,206 | n/a |
| Coolest Cooler | Kickstarter | 2014 | $13,285,226 | 62,642 | n/a |
| Flow Hive | Indiegogo | 2015 | $12M+ | ~25,000 orders | A$70,000 |
| Exploding Kittens | Kickstarter | 2015 | $8,782,571 | 219,382 | $10,000 |
Totals at campaign close. Some campaign pages now show more, from pledges taken after the campaign ended.
More breakdowns in our campaign teardowns.
Frequently asked questions
How much did Pebble raise on Kickstarter?
About $43 million across three campaigns: $10.3M (2012), $20.3M (2015) and $12.8M (2016).
How fast did Pebble Time reach $1 million?
In 49 minutes, a Kickstarter record at the time.
What happened to Pebble?
Pebble filed for insolvency and sold its software and IP to Fitbit in December 2016.
Planning a launch like this? We have run Kickstarter and Indiegogo marketing since 2015 and helped creators raise $150M+. Book a free discovery call or see our Kickstarter agency service.
Sources
Free: Kickstarter launch checklist
Everything to do in the 12 weeks before launch, on launch day and after. Two pages, free.
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