Healthify raises $20 Mn, aims for US expansion

Health and fitness platform Healthify (formerly HealthifyMe) has raised $20 million in fresh capital as part of a $45 million equity round. This round was led by Khosla Ventures and LeapFrog Investments, with new participation from Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai.

In June 2023, Healthify raised $30 million in a pre-Series D round, which included $5 million in venture debt

The fresh capital will fuel Healthify’s expansion into the US market and enhance its AI-driven nutrition and fitness coaching capabilities, the company said in a press release.

Healthify has raised a total of $125 million in equity financing to date. Prior to this, the company secured $75 million in Series C in July 2021 from Khosla Ventures, LeapFrog Investments, Sistema Asia Fund, and Chiratae Ventures.

Launched by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify uses a combination of software, wearable devices, and fitness trainers to help 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, its AI capabilities are being tailored for new markets like the US, with features that accommodate local languages, food preferences, and cultural habits.

In addition to its consumer app, Healthify has a B2B vertical focused on corporate wellness, with partnerships in the diagnostics, insurance, and pharmaceutical industries.

On the financial front, Healthify’s Indian operations have reached operational profitability, and the company expects to be EBITDA-positive by the end of the fiscal year. While the firm has yet to file its annual report for FY24, it registered Rs 229.71 crore in revenue for FY23 with a Rs 142 crore loss.