HealthifyMe Secures $75 Million Investment for Expansion

HealthifyMe, a leading AI-driven health and fitness app, announced on Tuesday that it has raised $75 million in a Series C funding round led by LeapFrog and Khosla Ventures. With this latest funding, the total capital raised by HealthifyMe now exceeds $100 million. The company plans to utilize the funds to expand its presence in India, Southeast Asia, and North America, in addition to acquiring relevant companies in the digital health and fitness sector.

Expansion Plans and Investment Focus

The primary focus of HealthifyMe’s investment strategy includes expanding its operations in India, Southeast Asia, and North America. The company aims to strengthen its presence in these regions while also investing in AI-powered HealthifySmart Plans. Additionally, HealthifyMe intends to double its current engineering and design team and recruit senior leadership across various departments, including operations, marketing, HR, and technology.

Tushar Vashisht, Co-founder and CEO of HealthifyMe, emphasized the company’s commitment to leveraging AI and human empathy to deliver effective weight and lifestyle disease management solutions at a reduced cost.

Funding Round Participants

Alongside LeapFrog and Khosla Ventures, HealthQuad, Unilever Ventures, and Elm (Saudi Arabia PIF entity) participated in the Series C funding round. Existing investors such as Chiratae Ventures, Inventus Capital, and Sistema Asia Capital also contributed to the investment.

Growth Trajectory and Milestones

Despite the challenges posed by the pandemic, HealthifyMe reported significant growth, doubling its user base and revenue over the past year. The app recently surpassed 25 million downloads and is on track to achieve $50 million in annual recurring revenue (ARR) within the next six months, positioning itself as one of the largest health and fitness apps globally, outside of the US and China.

While HealthifyMe has its roots in India, it has been steadily expanding its international footprint, with approximately 25 percent of its revenues now coming from markets outside India, such as Malaysia and Singapore.

Vision for Global Expansion

Vinod Khosla, Founding Partner at Khosla Ventures, expressed optimism about HealthifyMe’s global potential, particularly in North America, where the prevalence of overweight and obese adults presents significant opportunities for innovative health and fitness solutions.

Strategic Hiring and Growth Initiatives

In addition to expanding its geographical reach, HealthifyMe plans to strengthen its leadership team and recruit over 1,000 trainers and coaches this year. Key positions will be filled across operations, HR, technology, marketing, and profit and loss (P&L) management, reflecting the company’s commitment to sustained growth and excellence in the digital health and fitness sector.