Singapore healthtech startup rakes in $75m in series C money

HealthifyMe, a digital health startup based in Singapore, has raised US$75 million in its latest round of funding.

More funding details

• Lead investors: LeapFrog and Khosla Ventures, an early-stage venture capital firm founded by Sun Microsystems co-founder Vinod Khosla
• Other investors: HeathQuad, Unilever Ventures, and Elm, a Saudi Arabia-based public investment fund
• Stage: Series C

More company updates

• With the new funding round, HealthifyMe has raised over US$100 million in total so far.
• The company will use the funds to expand its operations in Southeast Asia and India. It’s also looking to set foot in North America and acquire companies in the digital health and fitness space.
• According to a statement, HealthifyMe will invest “heavily” in developing its AI-powered fitness plans.
• It will also use the funding to bankroll two new initiatives: HealthifyPlus and HealthifyStudio. The former helps customers manage chronic medical conditions like diabetes, cholesterol, hypertension, and thyroid disease, while the latter is a live workout solution that was built during the pandemic.
• The company said that HealthifyPlus and HealthifyStudio make up 25% of its top line.
• HealthifyMe intends to double the current strength of its engineering and design team, and ramp up hiring for senior leadership roles across operations, marketing, human resources, and technology.
• The company said its user base and revenue have both doubled in the past year. Currently, it is on track to hit US$50 million in annual recurring revenue within the next six months.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.