HealthifyMe deliberates IPO, aims $200 million ARR by 2024
- ByStartupStory | April 22, 2022
Health and Wellness platform, HealthifyMe, is deliberating over an initial public offering (IPO) in the next two years and targets an annual revenue run rate (ARR) of $200 million around the same time.
HealthifyMe aims to earn $100 million ARR in the next 8 months.
Founded in 2012 by Tushar Vashisht, Sachin Shenoy and Mathew Cherian, HealthifyMe provides services such as calorie tracking, one-on-one nutrition, fitness coaching, diet tracking, and workout plans. It caters to 30 million users in more than 300 cities, with the aid of 2000 health and fitness coaches and 300 employees.
In July 2021, it raised $75 million in Series C funding, led by Leapfrog, US-based venture capital investor Vinod Khosla, and Elm, Saudi Arabia’s public investment fund.
In August 2021, the company introduced an equity buy back programme worth $12 million.
The company intends to step into the offline market in the next three to six months through offline experience centers called “HealthifyMe Stores” to enable its users to understand its offerings and also have health testing facilities.
It has launched health tech devices like smart weighing scale and real-time glucose monitors. The company is now looking at investing in its new initiatives, such as its condition management offering for customers with chronic medical conditions such as diabetes, polycystic ovary syndrome, high cholesterol, hypertension and thyroid-related ailments.
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