People who need reminders that they are working too hard and need to build healthier habits may benefit from Basis Science’s new wrist-based health tracker and online platform. It’s garnered enough interest from venture capitalists to raise $11.5 billion in series B funding that was led by Mayfield Fund, and included existing investors DCM and Norwest Venture Partners. The new funding will be used to scale production and improve the platform, says CEO Jef Holove.

Tim Chang, managing director at Mayfield, and a long-time supporter of Basis, will join Basis’ board of directors, while world renowned healthy living expert, Deepak Chopra, and angel investor and technology analyst, Esther Dyson will join its advisory board.

“No other health tracking device has packed in as many sensors, including the ability to track heart rate from the wrist, as Basis has, or created a system like Basis’ healthy habits that keep wearers engaged over time,” says Chang.

The San Francisco-based startup says people often don’t have the time or energy to engage in healthy habits without some help. It has designed a wrist-based health tracker and online personal dashboard to help users easily incorporate healthy habits into their daily routine. The device’s sensors calculate steps taken, calories burned, and sleep quality, as well as physiological metrics like heart rate. It also suggests health goals and adjusts weekly targets based on progress, in other words, it helps a person stay on track with the idea that eventually the goals will become habits, hopefully for a lifetime.

“People can now get a more complete picture of their overall health, with visibility into their activity and sleep, as well as important physiological metrics like heart rate,” says Deepak Chopra, a trained doctor and author of more than 65 books on sustaining a holistic approach to health. “This means Basis can offer a more engaging and insightful way for people to get and stay healthy.”

According to an IMS Research report released in August 2012, the market for wearable devices will be at least $6 billion by 2016. Today the sector is mainly focused on health: activity monitors such as Basis and products from Fitbit, Nike, and others, and products such as glucose meters that address the growing global population with diabetes. By 2016, however, the market will move beyond health and wellness to “include smart watches, smart glasses, sleep sensors, industrial and military heads-up displays and hand-worn terminals,” says IMS.

“A $6 billion market in 2016 is our most conservative forecast which assumes that the adoption of wearable technology will be limited by factors including lack of suitable technology, poor user compliance and lack of an overall enhanced experience from devices that are wearable as compared to non-wearable products,” says Theo Ahadome, senior analyst at IMS Research.

“In our mid-range and upside projections, product introductions such as Google’s Smart Glasses and the rumored Apple Smart Watch come to fruition and are successful. In addition, an increasingly self-aware consumer seeks more and more data on their health and fitness, leading to even more rapid expansion in the market for wearable technology.”