Will use the cash to expand into Asia and Europe.
New York-based Noom has clinched a $2.6m funding round to further its Android-only mobile health and fitness app developments, which have been installed more than 15m times.
The fundraiser comes following the Noom Weight Loss Coach sitting as the number one health app on Google Play since launch in May last year. The customised app enables millions of users to lose weight, get fit and stay on target, and subscribers have collectively lost a weight of more than 19 million pounds.
The UK is the number two market for Noom products, and the company will look to use this base for a European expansion, while the capital will also be used to support Noom expanding into Asia with the opening of a marketing office in Korea, the firm's number three international market.
The funding round was generated by m8 Capital, Qualcomm Ventures, Harbor Pacific Capital, and ex-executives from Nexon.
Saeju Jeong, Noom co-CEO and co-founder, said: "We are very happy to have gained a valuable partner in m8 Capital as well as additional support from existing partners. With this support we will continue to expand internationally as well as to other mobile platforms."
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Source: http://www.mobile-ent.biz/news/read/mobile-health-and-fitness-developer-noom-secures-2-6m/020168
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