HealthifyMe, an AI health and fitness app has raised $30 million in a Pre Series-D funding round led by investors LeapFrog and Khosla Ventures along with FinnFund — a Finnish development financier, and Kempen Capital.
Existing investors like Unilever Ventures, Chiratae Ventures, Blume Ventures, and HealthQuad also participated in the round which also included some Venture Debt.
The investment will be channeled toward advancing the company’s AI capabilities, acquiring top-tier talent, and propelling global expansion. HealthifyMe’s last funding round was in 2021, and the company has raised $130 million to date.
Tushar Vashisht, Co-founder and CEO, HealthifyMe, said, “We’ve already demonstrated how blending human coaching and AI, enriched with users’ health data, can transform millions of lives. Now, with generative AI, we’re supercharging our mission to ‘healthify’ a billion people. This funding represents a vote of confidence in a future where everyone can access superior health and fitness outcomes. We’re spearheading this revolution, and we’re thankful for the unwavering support from our investors.”
HealthifyMe said it is set to augment the capabilities of ‘Ria’, its AI-powered virtual nutritionist, by infusing it with Generative AI. It is also retrofitting its coach-facing AI system ‘Jarvis’ with Generative AI to create a strong nutritionist and trainer ‘Copilot’.
Simultaneously, the company is readying for an upgrade to its Smart Plans — AI-enabled diet plans that contribute to half of the company’s current paying subscribers. Leveraging Large Language Models (LLMs) and data from millions of HealthifyMe diet plans, these new plans will provide more intuitive, precise, and personalised dietary guidance, said the company.
HealthifyMe claims that it is on a steady growth trajectory to achieve $50 million in annual recurring revenue (ARR) in the upcoming months. The company said it has witnessed its gross margins grow from 30 per cent to 70 per cent by combining AI with human experts over the years, and it expects generative AI to be a game-changer in driving scale and profitability.
It is also working on developing AI solutions that will facilitate multi-country coaching capabilities for its nutritionists, with 20 per cent of its revenues stemming from international markets currently.