Healthifyme

Bengaluru, July 20 (IANS) Leading AI health and fitness app HealthifyMe on Tuesday announced it has raised $75 million (nearly Rs 560 crore) in a Series C round led by LeapFrog and Khosla Ventures. The company, which has raised over the total capital raised by HealthifyMe to over $100 million till now, said in a statement that it will use the funds to expand in India and Southeast Asia, make inroads into North America as well as to acquire relevant companies in the digital health and fitness space. It will also be investing heavily behind its AI powered HealthifySmart Plans and intends to double its current engineering and design strength. It will furthermore be hiring senior leadership members across operations, marketing, HR and technology. "We are already the market leaders in India and Southeast Asia and by combining AI and human empathy, we can deliver results in weight and lifestyle disease management at a fraction of the cost possible today," said Tushar Vashisht, Co-founder and CEO, HealthifyMe. HealthQuad, Unilever Ventures, and Elm (Saudi Arabia PIF entity) also participated in the round, along with existing investors Chiratae Ventures, Inventus Capital and Sistema Asia Capital. HealthifyMe said it has doubled its user base and revenue in the last one year during the pandemic. It crossed 25 million downloads recently and is on track to hit $50 million ARR (annual recurring revenue) within the next six months, potentially becoming the largest health and fitness app outside the US and China. While HealthifyMe's base has been India, it has been expanding internationally and now nearly 25 per cent of its revenues come from outside the country like Malaysia and Singapore. "What they have achieved in India with their AI coaching solution at scale is truly pioneering for the world. We are excited about the potential as they scale globally -- specifically in North America, where 2 out 3 adults are overweight or obese," said Vinod Khosla, Founding Partner at Khosla Ventures. HealthifyMe is also planning to invest in building its leadership team and will hire for key positions across operations, HR, technology and marketing as well as P&L heads. The company aims to hire over 1,000 trainers and coaches this year.

Bengaluru, Sep 29 (IANS) Artificial Intelligence (AI)-driven health and fitness app HealthifyMe on Tuesday said it crossed $15 million revenue run rate in August and is on track to cross $20 million run rate by January next year, with nearly 20 per cent of its revenues coming from outside India.The company said it has nearly doubled its active paid subscriber base since April to 1 lakh customers while its downloads have crossed 16 million on back of its AI-powered smart plans.The Covid times have created tailwinds for the business as customers strive to eat healthier and get fitter to reduce the disease risk."We are able to offer world-class fitness and diet solutions to hundreds of thousands of customers globally at an affordable price point rendered by AI. On the consumer side, the demand for our subscriptions has also gone to an all-time high, as more and more people are looking to get fitter and eat right," said Tushar Vashisht, Co-founder and CEO, HealthifyMe. Most of HealthifyMe's growth came from low-cost smart plans as well as its doctor-integrated 'Coach Plus' plans. The company said it has also reduced its burn by half in six months. Smart plans are diet and workout plans designed by AI assistant Ria and available at a fraction of the price of HealthifyMe's flagship coach plans. Smart plans are now contributing to 70 per cent of HealthifyMe's over 1 lakh paid subscriber base, the company informed.The company has over 700 employees and has raised $30 million so far from leading investors like Chiratae Ventures, Sistema, Inventus, Blume, Samsung, Atlas and DI.--IANSna/