Samsung Ventures Invests in Noom, Inc. to Change Behaviors That Cause the Most Pressing Chronic Conditions
The financing will be used to further accelerate Noom's human-assisted coaching technology and grow the company's enterprise business
NEW YORK, Dec. 20, 2016 /PRNewswire/ -- Noom, Inc., the world's leading behavior change company, today announced an investment from Samsung Ventures. Noom's platform combines human coaching and artificial intelligence to deliver successful, scalable behavior change programs that prevent and manage chronic conditions.
The company's current programs target cardiometabolic conditions like obesity, pre-diabetes, diabetes, hypertension that can be mitigated through better nutrition and exercise. Participants follow disease-specific curriculums that include daily tasks assigned by a trained coach, short-form educational content, food-logging, exercise-logging, one-on-one coaching and group support. Noom's programs both improve short-term health and drive lasting behavior change that leads to long-term health outcomes.
The British Medical Journal Open Diabetes Research & Care recently published an article about the efficacy of Noom's Diabetes Prevention Program (DPP); it was the first-ever peer-reviewed study of a fully mobile DPP. The study found 64% of participants who completed Noom's program lost over 5% of their body weight. Results were comparable to the CDC findings from the traditional in person diabetes prevention program and far more successful than other virtual DPP providers.
In the U.S., Noom has expanded its enterprise customer base to include payers, employers, solution providers and health systems. Internationally, Noom's enterprise success continues to grow in Japan working with payers and employers; in South Korea, Noom has partnered with the National Health Institute of Science. Additionally, the largest and most prominent medical centers in both countries are utilizing the Noom platform in their populations.
"Noom's platform is uniquely positioned to meet people where they are -- on their mobile phones, addressing their specific needs, whether that be combating hypertension, obesity or diabetes," said Dr. Hyuk-Jeen Suh, Head of Samsung Ventures America East Coast.
"This opportunity opens the door to the ever-evolving capabilities of mobile devices to further improve the way consumers address pre-chronic and chronic disease. We look forward to accelerating mobile health and chronic disease prevention at a global, yet personal, level," said Saeju Jeong, CEO of Noom.
About Noom Inc.:
Noom Inc., the world's leading behavior change company tackling chronic and pre-chronic conditions, combines the power of technology with the empathy of real human coaches to deliver successful behavior change at scale. Noom's direct-to-consumer weight loss and exercise tracking mobile applications have reached more than 45 million users worldwide. Leveraging the success of their ground-breaking health and fitness programs, Noom developed a behavior change platform to treat chronic and pre-chronic conditions, beginning with the CDC's Diabetes Prevention Program (DPP). On the first day, the CDC began recognizing mobile and online DPP providers, Noom was there. Since then, Noom has expanded its curricula across the acuity spectrum and now features programs for pre-hypertension, hypertension and diabetes management in addition to its flagship weight loss and diabetes prevention programs. Noom has offices in New York City, Seoul and Tokyo.
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SOURCE Noom
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