Fitness and health platform HealthifyMe on Tuesday (July 20) announced to have raised $75 Mn in its Series C round led by LeapFrog and Khosla Ventures. HealthQuad, Unilever Ventures, and Elm along with existing investors like Chiratae Ventures, Inventus Capital, and Sistema Asia Capital participated in the round.
With the latest capital infusion, the startup has raised a total of $100 Mn in funding. The Bengaluru-based startup will utilise the capital raised to expand its operations in India, Southeast Asia while also making market penetration in North America. The company has also expressed its intention to acquire companies present in the digital health and fitness space. The company also plans to invest in AI powered HealthifySmart Plans and hire more talent in various teams. HealthifyMe will be hiring multiple positions in leadership roles. HealthifyMe will also invest the funds in HealthifyPlus and HealthifyStudio.
Founded in 2012 by Tushar Vashisht and Sachin Shenoy, HealthifyMe is a mobile health and fitness app that combines the technology with human services. The platform claims to be India and Southeast Asia’s largest digital wellness platform catering to more than 25 Mn users in over 300 cities with over 1500 coaches. The company has over 250 employees, with a physical presence in Bangalore, Kuala Lumpur and Singapore.
Commenting on the investment Vashisht, cofounder and CEO, HealthifyMe said, “We are excited to partner with Leapfrog, Khosla Ventures and other global investors in our mission to healthify a billion people. We are already the market leaders in India and Southeast Asia and by combining AI and human empathy, we can deliver results in weight and lifestyle disease management at a fraction of the cost possible today. With our Series C, we are excited to take our offerings global – North America being a key part of the plan – and we are looking forward to hiring and partnering with people around the world who are passionate about using technology to drive positive behavior change.”
The company last received funding worth $6 Mn in an extended series B round back in 2018. The round saw participation from Sistema Asia Fund which is the venture capital fund of Russian conglomerate Sistema JSFC, Samsung NEXT, Chiratae Ventures, Inventus Capital, Blume Ventures, and Innoven Capital. The company directly competes with Curefit which received investment worth $75 Mn from Tata Digital in a bid to provide a super app. Curefit led by Mukesh Bansal has to date received funding worth $475 Mn.