Weight loss and wellness app Noom raises whopping $58m

Ben Heathcote

In App Deals. May 13, 2019

Noom, the New York-headquartered wellness company best known for its weight loss app, has closed a $58 million financing round 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.

The company has developed ‘behaviour change programmes’ which combine human coaches with personalised content to help people achieve their wellness goals. Users who download the Noom app are paired with a dedicated health coach and given access to customised content that evolves based on their needs.

“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.”

“Noom is by far one of the fastest growing companies that we are in business with globally,” added Michael Abramson, partner at Sequoia and Noom board member. Sequoia is thrilled to partner with the Noom team as they help people achieve healthier lives.”

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.