Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.

Pebble’s second go at crowdfunding has come to an end with $20 million raised on Kickstarter for its upcoming Pebble Time smartwatch.

The campaign’s initial goal was $500,000. Pebble raised more than 40 times that amount.

When it launched on Kickstarter last month, the campaign surpassed $1 million in preorders in just 34 minutes. At the time, Kickstarter claimed that “Pebble is the fastest project to ever raise $1 million on Kickstarter.”

In 48 hours, the Pebble Time project surpassed the total amount raised by the original Pebble on Kickstarter ($10,266,845). By March 3, Pebble broke the all-time Kickstarter record set by the Coolest Cooler project (that one raised $13,285,226).

Since then, Pebble’s simply made it harder for some other project to come along and set a new record.

Pebble sold its first smartwatch on Kickstarter back in 2012 and, just a few weeks before the Apple Watch launch, has proved it can still drive considerable demand.

The Pebble Time is the company’s third device, a $159+ smartwatch with several new features. Among them, a redesigned OS, a colorful display reminiscent of e-paper, a Gorilla Glass screen, and a smaller form factor. After the Time debuted on Kickstarter, Pebble added a fancier version that will run the same OS: the Pebble Time Steel.

For more on Pebble’s upcoming smartwatch, head here: Pebble unveils Pebble Time, a $159 color e-paper watch available first on Kickstarter.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.