Noom Inc., a mobile health company, announced today that it has raised $16.15 million in Series B funding led by new partner InterVest Co. Ltd., a Seoul, Korea-based venture capital firm, with participation in the round from LB Investment, Hanmi IT, a subsidiary company of Hanmi Pharmaceutical Co., Ltd, New York-based RRE Ventures, TransLink Capital and Qualcomm Ventures.
The company’s major products in the market are Noom Coach, which is a user friendly weight loss app and Noom Health, a platform that connects patients and their healthcare providers.
CEO, Saeju Jeong says that the newly raised funding will be used to work on programs for other major diseases. Constant increase of users to the Noom products is evident as the company claims to have more than 32,000 active users as reported by TechCrunch.
The company had previously raised $7 million in series A in February 2014 and has also received grants from organizations including the National Institutes of Health (NIH).