Noom Announces Investment From Serena Ventures

Funds will be used to further expand the platform’s developer team and improve the user experience


NEW YORK--(BUSINESS WIRE)--Noom, the world's leading behavior change company, today announced it has received an investment from Serena Ventures to help fund the company’s continued growth. In addition to capital, Noom will have access to the firm’s expansive network and growing list of portfolio companies. Noom’s clinically-proven programs combine compassionate human coaches with modern technology and psychology to provide customized support, guidance, and motivation for each person’s weight loss journey.

Since its launch in 2014, Serena Ventures has invested in more than 30 startups, all of which embrace diverse leadership, individual empowerment, creativity, and opportunity. The firm’s mission is to present opportunities to founders of companies from an array of industries that touch e-commerce, food & beverage, fashion, health & wellness, and social good. Its portfolio—which includes Lola, Impossible Foods, the Wing and Masterclass—consists of 60 percent diverse founder investments, now including Noom which was founded by two immigrants, Saeju Jeong and Artem Petakov, who are from South Korea and Ukraine, respectively.

“I’m a true believer that everyone should have easy access to a healthier life, which is why I decided to invest in Noom,” said Serena Williams. “Noom’s mix of empathetic human support paired with modern technology and science makes it possible for people to achieve significant, lasting behavior change.”

“What Noom offers resonates with users in search of living healthier lives—not just those looking for the next short-term weight-loss fad—and we are grateful for its recognition,” said Saeju Jeong, co-founder and CEO of Noom. “Serena Williams is a force on and off the court, and her passion for empowering others is palpable. Her investment in Noom is a testament to the industry's confidence in our team and mission, and a significant validation of the need to shake up the weight-loss industry as we know it so that the focus is on sustainable, long-term change.”

Noom has spent the last decade working with over 50 million users in order to perfect its proprietary behavior change programs—all designed to drive meaningful health outcomes and lasting lifestyle changes that improve lives and lower healthcare costs. Noom’s combination of technology and science paired with the support of over 1,000 coaches makes it possible for people to experience consistent and sustainable changes. Instead of a one-size-fits-all solution, Noom’s data-informed approach focuses on the psychology of healthy behaviors—how habits are broken and created, how users see and think about themselves and their abilities, and so much more.

About Noom, Inc.
Noom is the world's leading behavior change company, disrupting the weight loss and healthcare industries. By combining the power of artificial intelligence, mobile tech, and psychology with the empathy of over 1,000 personal coaches, Noom helps people live healthier lives by changing their long-term habits. More than 50 million people have benefited from Noom’s behavior change courses, including its virtual diabetes prevention program, which was the first of its kind to be recognized by the CDC. The Noom platform is already being used by leading healthcare and pharmaceutical companies to improve treatment outcomes for patients worldwide. The company is headquartered in New York City with offices in Seoul and Tokyo.

About Serena Ventures
Serena Ventures focuses on early-stage companies and giving them the opportunity to be heard. As we grow, we hope to mentor young founders and take burgeoning entrepreneurs to the next level. Serena Ventures extends relationships, encourages collaboration among portfolio companies, and expands partnership opportunities across my vast network. Similar to many of the companies we have invested in, we are just getting started and are hoping to make a difference.


Contacts

Nicole Bestard/Meghan Shields
InkHouse on behalf of Noom
noom@inkhouse.com