Healthify (formerly HealthifyMe), a Health and fitness platform, raised USD 20 million in fresh capital as part of a USD 45 million equity round. This funding round was led by Khosla Ventures and LeapFrog Investments. Furthermore, the round showcased new participation such as Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai.
Healthify raised USD 30 million in a pre-Series D round, which included USD 5 million in venture debt back in June 2023. Also to note, the company said in a press release that this fresh capital will drive Healthify’s expansion into the US market while at the same time enhancing its AI-driven nutrition and fitness coaching capabilities.
Till date, Healthify has successfully raised a total of USD 125 million in equity financing, wherein, prior to this, the company secured USD 75 million in Series C in July 2021 from Khosla Ventures, LeapFrog Investments, Sistema Asia Fund, and Chiratae Ventures.
Healthify was established by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, and it uses a combination of software, wearable devices, and fitness trainers to aid people reach their fitness goals. It claims to have served over 40 million users and is expanding its presence across 300 cities in India.
According to Healthify, with features that accommodate local languages, food preferences, and cultural habits, its AI capabilities are being tailored for new markets like the US. Furthemore, Healthify has a B2B vertical focused on corporate wellness, in addition to its consumer app, with partnerships in the diagnostics, insurance, and pharmaceutical industries.
If we look at it from the financial front, Healthify’s Indian operations have reached operational profitability, and further expects to be EBITDA-positive by the end of the fiscal year. It ha also registered Rs 229.71 crore in revenue for FY23 with a Rs 142 crore loss, while it has yet to file its annual report for FY24.
