healthtech

HealthifyMe Secures $45 Million to Fuel U.S. Expansion and Advance AI Capabilities

• ByStartupStory     |    October 25, 2024

HealthifyMe, the health and wellness platform founded in 2012 by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, announced the successful closure of a $45 million financing round. This latest funding, led by existing investors Khosla Ventures and impact investor LeapFrog Investments, also welcomed new participation from Claypond Capital, the family office of Ranjan Pai. This capital infusion includes $20 million in fresh funds, adding to an earlier tranche raised in 2023, bringing HealthifyMe’s total primary equity raised to approximately $125 million.

The new funding comes at a critical time as HealthifyMe accelerates its global expansion efforts, with a keen focus on the U.S. market. The company is enhancing its AI capabilities to cater to diverse cultures, languages, and health preferences across different markets. HealthifyMe has already conducted successful alpha tests in the U.S. and is preparing for an official launch in the coming months. According to HealthifyMe, the AI is being tailored to understand U.S. food items, fitness habits, and local dialects, offering personalized and culturally relevant health guidance.

The company has reported operational profitability in its India operations and aims to become EBITDA-positive by the end of the fiscal year. While the consumer business remains HealthifyMe’s core, the company is also targeting growth through its B2B strategy, focusing on corporate wellness partnerships and collaborations with diagnostic, insurance, and pharmaceutical companies to promote sustainable health outcomes.

Tushar Vashisht, Co-founder and CEO of HealthifyMe, shared his excitement about the expansion: “After delivering outcomes at scale in India with our unique blend of AI and human coaching, we’re thrilled to bring this approach to the US, the world’s largest health and fitness market. With this funding, we’re one step closer to achieving our mission of putting a high-acuity health coach in every person’s pocket.”

Founded in 2012, HealthifyMe has grown into a leading platform offering a range of health services, including calorie tracking, personalized nutrition and fitness coaching, diet tracking, and workout plans. The latest financing round further supports its ambitious global expansion and commitment to transforming health and wellness on a global scale.

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