Weight-Loss App Noom Raises Whopping $540 Million In Latest Funding Round

"Psychology-based digital health platform Noom today raised $540 million in a Series F round led by Silver Lake, with participation from Oak HC/FT, Temasek, Novo Holdings, Sequoia Capital, RRE, and Samsung Ventures. Silver Lake and technology leader Stacy Brown-Philpot will join Noom’s board of directors.
Like the “Freshman 10,” which refers to the number of pounds students typically put on during their first year in college, the “Covid 15” signifies the amount of weight U.S. adults gained during the pandemic. Noom’s weight-loss app was clearly a beneficiary, generating approximately $400 million in revenue in 2020, almost double the 2019 revenue. Noom reached a record number of signups during the most recent New Year’s season.
Noom saw an uptick in new user sign-ups last spring at the onset of the coronavirus pandemic, and saw the same level this spring as lockdowns neared an end. Throughout the year there are different triggers that motivate people to begin their journeys on Noom, from internal triggers such as negative self-talk to external ones such as clothes that fit pre-pandemic no longer fit. The end of the pandemic qualifies as a trigger, the company said..." Lire la suite