Noom raises $16M for its food logging apps, enters licensing deal with Rodale

Noom Coach

Wellness app maker Noom has managed to secure $15 million in funding, according to an SEC filing. Han-Sing Hi-Tech Fund and two existing investors — TransLink Capital and RRE Ventures — contributed to the round, bringing the company’s total funding to at least $24.6 million.

Other existing investors include Recruit Strategic Partners, Scrum Ventures, Qualcomm Ventures, and Harbor Pacific Capital.

The new money will be used for “research and development, general corporate and working capital purposes, some of which may include salaries and/or other compensation paid to executive officers in the ordinary course of business.”

Noom has also announced licensing deal with Rodale to give its users a virtual library of healthy recipes.

Founded in 2007 as WorkSmart Labs, the company changed name in 2011 to match its flagship product, a weight loss app with a focus on food tracking, called Noom Coach. Said application, available for iOS and Android, provides users with a virtual coach, which assigns them educational articles and challenges associated with their daily schedules.

Noom also has two other apps, Noom Walk and Noom Cardio, both of which are available on Android handsets, only. The company’s products were a part of the announcement for Google’s fitness platform, called Google Fit.

UPDATE (April 1st, 2015): The company has officially announced the Series B round totaling $16.15 million, led by Seoul, Korea-based venture capital firm InterVest.

[Via: mobihealthnews]