Health and fitness platform Healthify (formerly known as HealthifyMe) has raised $20 million in fresh funding as part of a larger $45 million equity round, with plans to fuel its expansion into the US market. The funding round was led by Khosla Ventures and LeapFrog Investments, along with new investor Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai.
In June 2023, Healthify had already raised $30 million in a pre-Series D round, which included $5 million in venture debt. The company’s total equity financing to date now stands at $125 million.
The new capital will support Healthify’s ambitious plans for US expansion and enhance its AI-driven nutrition and fitness coaching capabilities, according to a press release from the company. These AI-powered features will be customized for new markets, like the US, with localization that includes language support, food preferences, and cultural adaptations.
Founded by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify combines software, wearable devices, and personalized fitness coaching to help its users achieve their health and fitness goals. With over 40 million users and a presence in 300 cities across India, Healthify is now gearing up to replicate its success in international markets.
In addition to its consumer app, Healthify has a growing B2B vertical that focuses on corporate wellness. The company has established partnerships with organizations in the diagnostics, insurance, and pharmaceutical sectors, aiming to provide comprehensive wellness solutions to businesses.
Financially, Healthify’s Indian operations have achieved operational profitability, and the company anticipates becoming EBITDA-positive by the end of this fiscal year. While the company has yet to file its annual report for FY24, it recorded Rs 229.71 crore in revenue for FY23, despite reporting a Rs 142 crore loss.
With its fresh capital, growing user base, and strong foothold in both B2C and B2B markets, Healthify is well-positioned to become a global leader in the health and wellness space, particularly with its forthcoming US expansion.
