Maya Robertson
Noom is a health & fitness app that is mostly preferred by those who want to lose weight and has increased its popularity significantly in 2020 due to coronavirus. Launched in 2016 by the company, Noom app is kind of different from the other weight loss apps as its content and methodology is created by a team of doctors, with the focus of changing your eating habits and developing healthy habits that last for a lifetime.
Noom app provides daily lessons and personal coaching and it allows you to track your food and exercise habits. Based on the answers you provided in the onboarding process, the app assigns you a daily calorie budget. Having a database of more than 3.5 million foods and over 1,000 interactive lessons, Noom claims that over 86% of its users keep the weight off beyond one year.
Company Overview
| Headquarter | New York, NY |
| Founded Date | 2008 |
| Founders | Artem Petakov, Saeju Jeong |
| Number of Employees | 2000+ |
| Crunchbase Profile | Profile Link |
| Google Play | Store Link |
| App Store | Store Link |
Funding Rounds
Noom has raised a total of $657.3 million in funding over 10 rounds so far. Their latest funding was raised on May 25, 2021 from a $540 million Series F round. The company reached a valuation of around $4 billion in this funding round.
| Date | Transaction Name | Money Raised |
| May 25, 2021 | Series F | $540 million |
| May 6, 2019 | Series E | $58 million |
| Mar 7, 2018 | Series D | $14 million |
| Mar 26, 2016 | Series C | $14.5 million |
| Apr 1, 2014 | Series B | $16.2 million |
| Dec 20, 2013 | Series A | $7 million |
| June 23, 2013 | Seed Round | $5 million |
| Dec 18, 2011 | Seed Round | $2.6 million |
Noom Revenue
Noom generated $400 million in revenue in 2020, almost twice the $237 million it made in 2019.
| Noom Revenue | |
| 2020 | $400 million |
| 2019 | $237 million |
| 2018 | $61.1 million |
| 2017 | $12 million |
According to Bloomberg, Noom has reportedly met with potential advisers to discuss an IPO in later 2021 or early 2022, with a targeted valuation of approximately $10 billion.
Noom Download & Usage Stats
+ As of May 2021, the Noom app has generated 45 million downloads to date in 100 countries including the U.S., U.K., Canada, Australia, Ireland and New Zealand.
+ 64% of Noom users lost 5% or more of body weight, greatly reducing their risk of diabetes and other conditions. (Noom)
+ The age of Noom users is spread relatively evenly among users aged 18 to 60 years old and up. The largest percentage of users on the platform are 40- to 59-year-olds at 24%. (Forbes)
+ New moms on Noom lost 3.94 kg (8.69 pounds) by week 16 and 4.08 kg (8.99 pounds) by week 24. 80% decreased in BMI by more than 2 units. (Noom)
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