Date: Apr 01, 2015 Author: Catherine Shu (@catherineshu) Source: TechCrunch (
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Noom, a mobile healthcare startup that focuses on using data to prevent diseases, announced today that it has raised a $16.15 million Series B.
The round was led by InterVest Co Ltd, a South Korea venture capital firm, with participation from LB Investment, Hanmi IT, RRE Ventures, TransLink Capital, and Qualcomm Ventures. Noom raised its $7 million Series A in February 2014 and has also received grants from organizations including the National Institutes of Health (NIH).
Noom, which currently claims 32 million users in total, makes Noom Coach, a weight-loss app, and Noom Health, a platform that connects patients and their healthcare providers.
Noom Coach's closest competitors include MyFitnessPal and Rise, the app that connects people with a nutritionist. Noom Coach hits the middle ground, however, by using artificial intelligence to deliver personalized recommendations based on food and exercise logged by each user.
It also differentiates by analyzing data to develop eating and exercise programs designed to help prevent diabetes. CEO Saeju Jeong tells TechCrunch that the company will use its funding to focus on other chronic conditions, like heart disease.
The startup will also expand it coaching platform Noom Health by adding new features, including ones that give patients guidance about their prescription medicine.
