Zeo Gets $1M Debt Deal

8/10/10

Zeo, a Newton, MA-based provider of sleep coaching devices and software, has raised $1 million of a proposed $1.5 million round of debt financing, according to an SEC filing. The company, formerly known as Axon Labs, plans to use the funding for new product development, additional customer service, and operational expenses, Jason Donahue, the company’s co-founder and vice president of brand management, said in an e-mail. When Xconomy last chronicled Zeo and its progress in May, the company had raised a total of $14 million, primarily from iD Ventures America and Trident Capital.

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