People who run a fitness app already have plenty of options: MyFitnessPal, Noom, and Lifesum, to name a few. Founded in India by HealthifyMe, HealthifyMe is committed to ensuring that users around the world prefer a range of customized healthcare programs. The Bangalore-based company announced today that it has closed $ 75 million Series C to LeapFrog and Khosla Ventures, with plans to increase its user base in India, Southeast Asia and North America.
HealthifyMe is the largest investment made by Khosla Ventures in India to date. The company did not give a subsequent valuation of its money, but one of the founders and CEO Tushar Vashisht told TechCrunch that it is now in the “Soonicorn” state.
Unilever Ventures, Elm and Healthquad also participated in the round, along with investor returns from Chiratae Ventures, Inventus Capital and Sistema Asia Capital. HealthifyMe has now raised more than $ 100 million.
Vashisht said HealthifyMe is India’s leading health and fitness app, but its long-term goal is to become a world leader. It is popular among North American expatriates and Indian American communities, and is now targeted at other customer segments as well.
HealthifyMer’s products include HealthifySmart, which uses AI-based technology to customize diet plans for users, and HealtifyCoach, which includes live interviews with coaches. During the pandemic, he launched two products: HealthifyPlus, for people who manage chronic diseases such as diabetes, polycystic ovary syndrome, high cholesterol or hypertension, and HealthifyStudio, who have live training classes.
The app features an AI-based nutritionist named Ria, trained in different market cuisines, combining user tracking data, local nutritionist guidance, and databases from sources such as the U.S. Department of Agriculture.
HealthifyMe will work with LeapFrog’s research and development center, ImpactLabs, to develop more programs for people with chronic health conditions.
HealthifySmart and HealthifyStudio, its newest products, already contribute 25% to the company. HealthifyMe said it has doubled the number and revenue of users in the past year, recently exceeded 25 million downloads, and now aims to raise $ 50 million in repeated revenue over the next six months. It has about 1,500 coaches and coaches on the platform, and plans to add an additional 1,000 to help with the expansion.
Since HealthifyMe began operating in high-cost markets for the first time, AI began using it to scale effectively in the beginning, Vashisht said. As a result, it is able to offer products at lower prices than the competition.
“Today, in the U.S., you have free DIY-telling solutions like MyFitnessPal and expensive solutions for human-assisted trainers and dieters like Noom and WeightWatchers,” Vashisht said. “But there’s nothing in the middle that allows you to keep track of your nutrition and calories while getting advice at an affordable price.”
About 25% of HealthifyM’s revenue is from outside India, including Singapore and Malaysia. When it enters a new market, the company locates its services through a playbook.
“Initially we start building a food database with local food. We also adapt our search algorithms and application language so that specific food searches can be done in the app, ”Vashisht said. When we have enough data, we have been able to rename and re-bill our AI to suit local priorities. ”That’s how the company founded HealthifySmart in Singapore and Malaysia, and intends to do the same in North America.
The company measures the effectiveness of its program through statistics reported by users and by working with researchers such as Sridhar Narayan, a professor at Stanford Graduate School of Business, to verify and analyze its data. Vashisht said the average paid subscriber loses about eight pounds in 180 days, and the best 10% lose more than 20 pounds.
For HealthifyPlus customers, the company has had a statistically significant impact on levels of A1oglemin (Hb1AC), LDL cholesterol and thyroid stimulating hormone (TSH). Vashisht added that HealthifyMe plans to publish the results in the coming months, and hopes to integrate them with diagnostic providers in the future to monitor clinical indicators.
Part of the new funding will be used to duplicate HealthifyMe’s current engineering and design teams, as well as through contracted purchases, with the company looking to buy digital health and wellness companies. He will also serve as a senior leader in operations, marketing, human relations and technology.
Update: The message has been corrected to indicate that LeapFrog has invested in other health technology startups in India.