Mobile health and fitness platform HealthifyMe has announced that it had raised a $12 million (₹ 77.2 core) in a Series-B round of funding led by Sistema Asia Fund, the India-focused fund of Russia’s largest conglomerate.
Silicon Valley-based Samsung NEXT, Singapore’s Atlas Asset Management, and Japan’s Dream Incubator are the other participants in the latest round of funding alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai-based NB Ventures, the company has stated in a release.
HealthifyMe, co-founded in 2012 by Tushar Vashisht and Sachin Shenoy who worked previously at UIDAI (Aadhar, Government of India), Deutsche Bank and Google across India and Silicon Valley, delivers measurable results on eating habits, fitness, and weight and works with leading corporates and healthcare partners in India.
HealthifyMe works on a freemium model and has an estimated five million downloads across 200 cities with over 200 coaches. Its app is rated 4.6/5 on Play Store, and has been featured by Google and Apple multiple times for its quality benchmarks.
The app enables users to keep a track of their calories, set personal fitness goals, and measure progress. The platform claims to have the world’s largest database of Indian foods and syncs with all leading wearables, Google Fit and Apple Health.
Tushar, CEO of HealthifyMe, noted that the company had grown 3.5 times in 2017 to five million downloads, spread to 200 cities, and is booking $4.5 million in ARR (Annualised Run Rate) revenue.
HealthifyMe had received a shot in the arm when the app reached a new benchmark of quality on Google Play. Recognized by Google in its annual round-up of apps, games, movies, books and more, HealthifyMe had received the award for “Best Apps of 2017” under the ‘Best Daily Helper’ category, alongside Zomato and Paytm.
The company in its Series A funding had received $6 million (₹ 40 core) from IDG Ventures India, Inventus Capital, and Blume Ventures during May 2016. In June 2015, HealthifyMe had raised an undisclosed amount in pre-Series A funding from individual investors. In May 2015, the company had also secured money from mobile handset manufacturer Micromax as part of its pre-Series A funding round.