Pebble Time Is the Fastest Funded Project in Kickstarter History In a few short hours, the new Pebble smartwatch has already raised $4.6 million and shows no sign of slowing down.

By Jason Fell

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Pebble

UPDATE: Less than 48 hours after launching, Pebble Time officially topped the company's previous Kickstarter record. The original Pebble raised $10,266,845 (from 68,929 backers) over more than 30 days on Kickstarter in 2012. As of 9:40 a.m. ET on February 26, Pebble Time has raised $10,267,596 from 47,562 backers. It is now the second most-funded Kickstarter project behind The Coolest Cooler, which raised nearly $13.3 million last year. Pebble Time still has 29 days before the campaign closes.

Palo Alto, Calif.-based smartwatch company Pebble had a great idea when it decided to launch its newest watch, the Pebble Time, on Kickstarter today. In just 49 minutes, the watch had already raised $1 million, displacing the previous record holder -- Reaper Miniature Bones, a gaming miniatures project, which hit $1 million in two hours, 42 minutes.

Sounds impressive. Oh, but the story isn't over yet. Pebble Time hit $4 million in less than three hours after going live on Kickstarter at 10 a.m. ET today. For that record, the previous holder was the Ouya game console, which took two days, 19 hours to reach that funding level.

"It's clearly the fastest funded project in Kickstarter history," Kickstarter communications director David Gallagher says. Pebble had set a funding goal of just $500,000.

Related: Pebble Is Launching a New Smartwatch Today on Kickstarter

Pebble Time is the newest iteration of the company's popular smartwatch. Among the new features, Pebble Time includes a color e-paper display (instead of just black and white), a microphone and is about 20 percent slimmer than the original Pebble. It will also run on an updated Pebble operating system called Timeline.

The watch will retail later this year for $199 but is available on Kickstarter for $159.

In 2012, Pebble launched its flagship smartwatch on Kickstarter, raising more than $10 million. It is the second most-funded Kickstarter project behind The Coolest Cooler, which raised nearly $13.2 million.

So far, Pebble Time has raised nearly $5 million (in just over four hours!) and ranks as Kickstarter's 8th must-funded project. Pebble Time still has 31 more days before the fundraising window is over.

Related: Pebble Gets Even Smarter, Rolls Out Interactive Notifications for Android Users

Jason Fell

VP, Native Content

Jason Fell is the VP of Native Content, managing the Entrepreneur Partner Studio, which creates dynamic and compelling content for our partners. He previously served as Entrepreneur.com's managing editor and as the technology editor prior to that.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Business Ideas

Here's How the Entrepreneur Behind Carvana Got the Idea That's Revolutionizing the Way We Buy Cars

'If nobody thinks you're crazy, you probably aren't on to anything truly novel.'

Starting a Business

This Retiree's Leisurely Side Hustle Makes $66,000 a Year and, 'You Don't Even Need to Go to High School to Do It'

Barbara Hill wanted a flexible, part-time job that would transition well into retirement. Now she mentors younger people who are making over $200,000 a year. Here's her insider's guide to getting started.

Leadership

Women Are More Likely to Be Laid Off Than Promoted in Tech — Here's How We Can Change the Status Quo

In the face of a tech industry where women are more likely to be laid off than be promoted to leadership positions, it's time to hack the system and reboot the gender balance for good to turbocharge innovation and propel the industry.

Business News

Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study

Some surprising schools outranked Ivy League universities with the likelihood that their grads would found a unicorn.

Health & Wellness

Get Healthy with Jillian Michaels While Her Fitness App Is on Sale for Hundreds Off

Don't let your health and wellness slip through the cracks.

Starting a Business

This Is How Entrepreneurs Can Achieve Financial Fitness

Entrepreneurs aiming for financial fitness, akin to physical training, must focus on bootstrapping — a process of self-funding a business.