Health training app designer Noom revealed today that it has actually raised $58 million led by Sequoia Capital.
Other individuals consist of Agla Ventures, the tech financial investment arm of French holding business Groupe Arnault, WhatsApp co-founder and previous CEO Jan Koum, DoorDash co-founder and CEO Tony Xu, Oscar Health co-founder Josh Kushner, SB Project co-founder Scooter Braun and returning financier Samsung Ventures.
Headquartered in New York City with workplaces in Seoul and Tokyo, Noom is best understood for its direct-to-consumer weight reduction app, however it likewise establishes business items, consisting of an app concentrated on diabetes and high blood pressure . Noom’ s customer app completes for users with Under Armour’ s MyFitnessPal and Weight Watchers, however its closest competitor is most likely nutrition and weight-loss app Rise since both deal customized programs and training for a membership cost.
Noom intends to set itself apart by concentrating on long-lasting way of life and habits modifications, in addition to nutrition, calorie and workout tracking. Users get access to 1:1 training and physical fitness programs customized by an algorithm based upon how they address a survey.
The business will utilize its brand-new financing to employ more individuals for item advancement. In a press declaration, Koum stated he purchased Noom since it “ has much of the exact same qualities that assisted WhatsApp interrupt the interactions market. Noom is up until now ahead of the competitors when it concerns brand name, execution and innovation acknowledgment that it will be challenging for any business to capture up.”
