Wellness Company Noom Raises $58 Million, Led by Sequoia Capital to Grow Its Team and Improve Its Consumer Offering
NEW YORK, May 6, 2019 (Newswire.com) - Noom, the mobile wellness company, has completed a $58 million financing, led by Sequoia Capital. Groupe Arnault’s tech arm Aglaé Ventures, Jan Koum, co-founder of WhatsApp, Tony Xu, co-founder of DoorDash, Josh Kushner, co-founder of Oscar Health, Scooter Braun, founder of SB Projects, and existing investor Samsung Ventures have also joined the round.
Noom’s clinically-proven behavior change programs combine human coaches with personalized content to help people achieve their wellness goals. Users complete a questionnaire, download the Noom app and are paired with a dedicated health coach and customized content that dynamically evolves based on their needs. Rather than relying on strict rules and fad diets that are difficult to maintain, Noom’s program seeks to understand individual motivations and obstacles to best guide users toward sustainable behavior change.
As Noom enters its next stage of growth, the company will use funds from this round to expand the team and improve the customer experience. “We were able to achieve so much with just 55 people in our New York City headquarters and our community of wonderful coaches,” said Saeju Jeong, CEO and co-founder of Noom. “This influx of capital will help us hire more Noomers -- passionate people who want to use their business and technical skills to make personalized coaching accessible to everyone in the world.”
Co-founder and President of Product and Engineering Artem Petakov added: “We have more product ideas to serve and delight our community than we have product managers, designers and engineers to build them right now, and we’re excited to close that gap. It is our mission to use technology to help people live healthier lives -- and these folks will help us do it."
Jan Koum said he believes Noom is well positioned to transform the wellness sector. “Noom has many of the same traits that helped WhatsApp disrupt the communications industry,” said Koum. “Noom is so far ahead of the competition when it comes to technology, execution and brand recognition that it will be difficult for any company to catch up.”
“Noom is by far one of the fastest growing companies that we are in business with globally. Sequoia is thrilled to partner with the Noom team as they help people achieve healthier lives,” said Michael Abramson, partner at Sequoia and Noom board member.
About Noom, Inc.
Noom, Inc., the world's leading mobile behavior change company, combines the power of technology with the empathy of human coaches to deliver successful behavior change at scale. Noom’s direct-to-consumer mobile weight loss and wellness behavior change programs positively impact many lives every day. Noom’s fully mobile diabetes prevention program was the first of its kind to be recognized by the CDC and the only 100% mobile program clinically proven in a peer-reviewed journal. Studies showing the efficacy of Noom's prediabetes, diabetes and hypertension programs have appeared in over a dozen medical journals, including the Journal of Human Hypertension, Nature's Scientific Reports and British Medical Journal Open Diabetes Research & Care. Noom is headquartered in New York City with offices in Seoul and Tokyo.
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Source: Noom