Noom, Inc.

Based in New York, US, and founded in 2008 by Saeju Jeong and Artem Petakov, Noom, Inc. , f. k. a.

WorkSmart Labs, operates as a developer of fitness and health mobile application that provides individuals with online evaluations, advice, and personalized programs from coaches and experts towards their fitness goals. In May 2021, Noom, Inc. raised USD 540 million in a Series F funding led by Silver Lake, with participation from Novo Holdings, Oak HC/FT Partners, Temasek Holdings, RRE Ventures, Samsung Venture Investment, and Sequoia Capital. With the series F round, the company has raised a total of USD 635.

52 million in funding. In late 2019, the company hired 1,000 coaches, growing its employee count to 1,800 people. Noom, Inc. offers a psychology-based digital health platform that is powered by data, technology, and human coaches to help people meet their personal wellness and health goals.

The company products come under lose weight and enterprise categories. Lose weight product helps clients to lose weight using science and psychology. In addition, the company provides daily lessons, one-on-one coaching, support groups, coaching tools, evidence-based curricula, SOS plans and mobile tracking and protocol delivery tool for a healthy weight, diabetes management, hypertension management, hypertension prevention and type-2 diabetes prevention. In 2018, Noom, Inc.

generated USD 61 million in revenue, which increased from USD 12 million in 2017. Noom, Inc. plans to use its proceeds from May 2021 funding to expand its behavior change platform to address a broad range of conditions with meaningful opportunities to further generate positive change across the lives and health of its customers, including stress and anxiety, diabetes, hypertension, and sleep. In addition, the company also plans to reach more people from new geographies and use the new capital for share repurchases as a part of its broader capital allocation framework.