Healthify, a leading health and fitness platform, has raised $20 million in fresh funding as part of an ongoing $45 million equity round. The funding round was spearheaded by Khosla Ventures and LeapFrog Investments, with additional backing from Claypond Capital, the family office of Indian healthcare magnate Dr. Ranjan Pai.
Earlier, in June 2023, the company secured $30 million through a pre-Series D round, which also included $5 million in venture debt.
The newly secured funds will support Healthify’s plans to enter the US market and further enhance its AI-driven nutrition and fitness coaching capabilities, the company revealed in a statement.
With this latest funding, Healthify’s total equity financing now stands at $125 million. In 2021, the platform raised $75 million in a Series C round from Khosla Ventures, LeapFrog Investments, Sistema Asia Fund, and Chiratae Ventures.
Founded by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify combines technology, wearable devices, and fitness experts to help users achieve their health goals. To date, the platform claims to have served over 40 million users and is active in more than 300 cities across India.
The company’s AI solutions are also being adapted to cater to international markets, with an initial focus on the US. These features will consider regional languages, food preferences, and cultural habits.
Alongside its consumer offerings, Healthify operates a B2B arm specializing in corporate wellness programs. It partners with companies in the diagnostics, insurance, and pharmaceutical sectors.
On the financial front, Healthify’s operations in India have achieved operational profitability. The company is also targeting EBITDA-positive results by the end of the fiscal year. In FY23, Healthify reported revenue of Rs 229.71 crore, while posting a Rs 142 crore loss. The company’s financial performance for FY24 is yet to be disclosed.