Health and fitness startup HealthifyMe raises $75 million from multiple investors
HealthifyMe has raised $75 million in a Series C round led by US-based LeapFrog and health-tech focused venture capital firm Khosla Ventures. HealthQuad, Unilever Ventures, and Saudi Arabia-based public investment fund Elm also participated in the round along with existing investors Chiratae Ventures, Inventus Capital and Sistema Asia Capital.
It takes the total capital raised by HealthifyMe to over $100 million till now.
The company will use the funds to expand in India and Southeast Asia, make inroads into North America, as well as to acquire relevant companies in the digital health and fitness space.
It also intends to double its current engineering and design strength. It will furthermore be hiring senior leadership members across operations, marketing, human resource and technology.
HealthifyMe doubled its user base and revenue in the last one year during the pandemic. It crossed 25 million downloads recently and is on track to hit $50 million ARR within the next six months.
Leapfrog is one of the world's largest impact-oriented private equities having raised over $2 billion and holding a long track record in healthtech and fintech in the region.
Khosla Ventures on the other hand is one of the pre-eminent health-tech and AI-focused VC funds in the world with over $5 billion in management.
HealthifyMe caters to more than 25 million users in 300 cities with over 1500 coaches. The company delivers measurable results on eating habits, fitness, and weight through tracking lifestyle, providing access to human coaches and its artificial intelligent nutritionist.