Noom, Inc., the creator of fun and easy-to-use health and wellness apps, announced today that it has closed a $7 million Series A round of funding led by New York-based RRE Ventures with participation from TransLink Capital, Scrum Ventures, Recruit Group Japan, Qualcomm Ventures and Harbor Pacific Capital. RRE’s Jim Robinson IV will join the company’s board.
“Noom has designed a comprehensive mobile weight loss program complete with guidance and motivational support accessible to anyone with a smartphone,” said Jim Robinson IV, RRE Ventures. “We’re eager to support their mission of coaching people around the world to change their lives for the better.”
The team at Noom plans to use the funds to build upon its rapid user acquisition and deep engagement demonstrated in 2013. In the past year, Noom’s audience reached more than 20 million installs across the company’s suite of apps, attracting users from every country around the world, led by its flagship product Noom Weight Loss Coach. Representing Android’s highest grossing health and wellness app, Noom Weight Loss Coach was named by Google Play as one of the Best Apps of 2013.
Noom’s award-winning engineering team also released several new products in 2013, including Noom Weight for iPhone, which is currently featured on the App Store as one of 2014’s Best New Health & Fitness apps, as well as Noom Walk, a pedometer that takes advantage of Android™ 4.4's new sensor technology. Noom Weight for iPhone also features a built-in pedometer and is one of the first in its category to utilize Apple’s M7 motion co-processor. Noom’s users have taken a combined 265 billion steps to date.
“All of our products motivate and coach users to make healthier choices, rather than simply track data. We have found that this combination is essential for long-term positive outcomes,” said Saeju Jeong, Co-Founder and CEO of Noom. “With this funding, we can enhance our products to drive the best outcomes for the people around the world; already we’ve translated our apps into German, Japanese and Korean and the user response has been phenomenal.”
A testimony to Noom’s focus on research-backed product development, the Company was recently awarded a grant from the National Institutes of Health (NIH) to fund a study in conjunction with Mt. Sinai Hospital on the impacts of smartphone technology in eating disorder treatment.
About Noom: Noom, Inc. creates fun and easy-to-use mobile apps that provide intelligent nutrition and exercise coaching. With more than 20 million installs, the company’s suite of apps includes CardioTrainer, Noom Walk, Noom Weight for iPhone and its flagship app Noom Weight Loss Coach, which was Android’s #1 grossing Health and Fitness App for 2013. They have offices in New York City, Berlin, Seoul and Tokyo.
