Total amount raised
$658.9 Millions
Latest funding date
Location
Title
Noom has successfully raised significant funding over multiple rounds, attracting notable investors such as Samsung Ventures and Sequoia Capital. The platform leverages a psychology-based approach to offer intelligent nutrition and exercise coaching.
Keep reading to explore the intricacies of Noom's fundraising journey and the investors backing this innovative platform.
What Is Noom?
Noom, founded in 2008 by Artem Petakov and Saeju Jeong, is headquartered in New York, New York. The company offers a psychology-based digital health platform that provides intelligent nutrition and exercise coaching.
Noom's platform helps users achieve personal health and wellness goals, including weight management, diabetes prevention, and stress reduction. The company has received multiple grants from the National Institutes of Health and is recognized by the Centers for Disease Control as a certified diabetes prevention program.
With a workforce of between 1001-5000 employees, Noom leverages data, technology, and human coaches to deliver personalized coaching and tools for tracking food, exercise, and weight loss progress.
How Much Funding Has Noom Raised?
- Seed Round
- Amount Raised: $2.6M
- Date: December 2011
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the Noom platform and validate the business model.
- Seed Round
- Amount Raised: $5M
- Date: June 2013
- Lead Investors: Qualcomm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and increase user acquisition.
- Series A
- Amount Raised: $7M
- Date: December 2013
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance the user experience.
- Series B
- Amount Raised: $16.2M
- Date: April 2014
- Lead Investors: InterVest Co.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand market reach.
- Series B
- Amount Raised: ₩1.8B
- Date: March 2015
- Lead Investors: Samsung Venture Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and enter new markets.
- Series C
- Amount Raised: $14.5M
- Date: March 2016
- Lead Investors: Samsung Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve the platform's scalability.
- Series D
- Amount Raised: $14M
- Date: March 2018
- Lead Investors: Sompo Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's offerings and enhance user engagement.
- Series E
- Amount Raised: $58M
- Date: May 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new international markets.
- Series F
- Amount Raised: $540M
- Date: May 2021
- Lead Investors: Silver Lake
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and address a broader range of health conditions.
Total Amount Raised: $657.3M
Current Valuation: Not publicly disclosed
Key Investors
- Samsung Ventures
- Details: Samsung Ventures is the venture capital arm of Samsung Group, focusing on investments in technology and innovation. They aim to support startups that align with Samsung's strategic interests.
- Investment Focus Areas: Technology, healthcare, consumer electronics.
- Notable Investments: Graphcore, AImotive, DeePhi Tech.
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm that invests in early and growth-stage companies across various sectors. They have a history of backing some of the most successful tech companies.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, LinkedIn, WhatsApp.
- Silver Lake
- Details: Silver Lake is a global private equity firm focused on investments in technology and technology-enabled industries. They manage over $75 billion in combined assets.
- Investment Focus Areas: Technology, technology-enabled industries.
- Notable Investments: Dell Technologies, Airbnb, Twitter.
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm investing in healthcare and financial technology. They aim to partner with entrepreneurs to build successful companies.
- Investment Focus Areas: Healthcare, financial technology.
- Notable Investments: One Medical, VillageMD, Poynt.
- Temasek
- Details: Temasek is a global investment company headquartered in Singapore. They have a diversified portfolio and focus on long-term sustainable returns.
- Investment Focus Areas: Telecommunications, media & technology, financial services, life sciences & agribusiness.
- Notable Investments: Alibaba, Gojek, Moderna.
What's Next for Noom?
With a fresh infusion of $540 million from its Series F funding, Noom is poised to expand its behavior change platform to address a broader range of health conditions, including stress, anxiety, diabetes, hypertension, and sleep. This significant opportunity could propel Noom to new heights, tapping into the growing demand for digital health solutions.
Future fundraising opportunities seem promising, given the substantial backing from high-profile investors like Silver Lake and Sequoia Capital. However, Noom will need to navigate challenges such as competition from other digital health platforms and ensuring the effectiveness of its psychology-based approach as it scales.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Noom and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy with unparalleled data and insights.
