Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by HealthifyMe.
Having a fit and healthy body is everyone's dream, but it has somehow not been everyone's cup of tea. Lack of motivation and guidance bars people from achieving their health goals. HealthifyMe app was designed to solve this very problem. HealthifyMe app allows the users to keep track of their diet and exercise regime, take expert advice and connect to other fitness enthusiasts thus equipping them to maintain a healthy lifestyle. The HealthifyMe plans offer its customers and fitness enthusiasts many premium options that can help them reach their goals.
Recently, HealthifyMe has also introduced an array of free services to help its users maintain a healthy lifestyle during the 21-day lockdown. With HealthifyMe's Funding of around $25 Million, it has clocked a revenue of Rs. 100 crore in 2020. Let's have a look at the journey of one of the best Health-tech app in India and how it is helping millions of people attain their health and fitness goals. Here is everything you about HealthifyMe Founders, Revenue, Funding, Business Model, Competitors, and its Growth.
HealthifyMe - Company Highlights
| Startup Name | HealthifyMe |
|---|---|
| Headquarter | Bangalore |
| Founders/Owners | Tushar Vashisht, Sachin Shenoy & Mathew Cherian |
| Sector | Wellness |
| Founded | 2012 |
| Revenue | Rs. 182 Crores (January 2021) |
| Total Funding | ~ $100.1 million |
| Parent Organization | HealthifyMe Wellness Private Limited |
| Website | www.healthifyme.com |
HealthifyMe - About and How it Works
HealthifyMe - Product and Services
Heathifyme Plans
HealthifyMe during Covid Pandemic
HealthifyMe - Founders/Owners and team
How was HealthifyMe Started?
HealthifyMe - Business Model and Revenue Model
HealthifyMe - Revenue
HealthifyMe - Funding and Investors
HealthifyMe - Partnership and Tie-ups
HealthifyMe - Competitors
HealthifyMe - Awards
HealthifyMe - Growth
HealthifyMe - Future Plans
HealthifyMe - FAQs
Vidhi Punamiya
HealthifyMe - About and How it Works
HealthifyMe was co-founded in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy. Initially, incubated by Microsoft Accelerator, the company delivers measurable results on eating habits, fitness, and weight and works with leading corporates and healthcare partners in India.
HealthifyMe works on a freemium model and has witnessed 10 million downloads, used by an estimated 25 million users, and spread across 300+ cities with over 1,500 coaches. Its app is rated 4.6/5 on Play Store and has been featured by Google and Apple multiple times for its quality benchmarks.
HealthifyMe's vision is to build the world’s largest online health and fitness service. It wants to help millions of consumers achieve their goals by engaging with nutritionists and other health experts empowered with artificial intelligence.
Shubham Kumar
HealthifyMe - Product and Services
What is HealthifyMe app?
HealthifyMe app serves as a calorie tracker, allowing users to lose weight and track their food and exercise regimens through their phones or computers. The HealthifyMe pricing for the premium version is low as it allows users to interact with nutritionists, fitness experts and yoga instructors.
HealthifyMe consists of three components. First is its lifestyle tracker, which it launched three years ago as the first calorie counter in India. The second is its social feed, which allows users to find others like themselves, with similar goals and problems. The third, and most innovative aspect, is HealthifyMe's tech augmented coaching, which uses a combination of artificial intelligence and human trainers to help its users stay healthy and engaged with the app.
By integrating AI with the user data, the HealthifyMe app is able to map its user's nutritional patterns and needs. Now the HealthifyMe fitness coach is an AI named Ria, can handle 77% of all user questions, which allows the trainers and nutritionists to put their focus on the other 23% of more complicated questions. Even in those cases, Ria is able to make suggestions but isn't sure enough of the actual answer to do so on its own, so it relies on human judgment.
In February 2020, HealthifyMe announced that it will foray into the mental health segment. It's Mental Wellness vertical 'HealthifySense' will provide the user's access to qualified counselors on the HealthifyMe platform. This move will let the company grow into a complete health and wellness platform from just being a weight loss or fitness app.
The company also launched a ‘HealthifySmart Legends Edition'. Under this program, the company will tie-up with sports and fitness legends to bring to its users, expert diet and workout tips from these fitness celebrities. Currently, HealthifyMe India has roped in celebrity tennis player Mahesh Bhupati, as a strategic advisor for ‘HealthifySmart Legends Edition'.
In a bid to provide its users a complete health and fitness package, HealthifyMe tied up with food delivery and gym apps too. Users will now be able to order food as per their diet plan or find a curated list of restaurants (powered by HealthifyMe) for serving healthy food on Swiggy. Besides, users can also order groceries from HealthifyMe's partner app, 'Milkbasket' in selected locations. Again for workouts, HealthifyMe joined hands with Fitternity, the fitness discovery and booking app, which will give the HealthifyMe users access to 12000+ gyms and fitness studios across India.
PV Vyshnavi
Heathifyme Plans
The current HealthifyMe subscription plans cost range from Rs 999 to 1699 per month. Depending on what the users choose they get the number of coaches they need, while Healthifyme premier plan includes targeted programs like weight loss, muscle gain, diabetes prevention.
The HealthifyMe smart plan that is Rs. 999 includes a personalized diet plan, unlimited meal recommendations, access to Ria (AI personal assistant), and the customer's daily and weekly reports. HealthifyMe membership can also be canceled easily as you can simply choose the HealthifyMe weight loss plan subscription the user wishes to cancel and then tap on the "Cancel Subscription" option.
| HealthifyMe Plans | Cost | Features |
|---|---|---|
| Smart plan | Rs. 999 | Personalized Diet Plan, track calories, nutrient tracking and insights, Healthy Recipes, Daily and Weekly Reports, RIA |
| Coach Plan 1 | Rs.1299 | Personalized Diet Plan, track calories, nutrient tracking and insights, Healthy Recipes, Daily and Weekly Reports, RIA, 2 Consultation Calls per month and Unlimited chat with coach |
| Coach Plan 2 | Rs.1699 | Personalized Diet Plan, track calories, nutrient tracking and insights, Healthy Recipes, Daily and Weekly Reports, RIA, Dedicated Diet Coach, Dedicated Fitness Coach, Personalized Fitness Plan, 2 Consultation Calls per month and Unlimited chat with coach |
HealthifyMe during Covid Pandemic
Recently in June 2021, the company hired the popular team of Under 45 to help find slots for covid vaccination. The HealthifyMe vaccine slot booking is available on both HealthifyMe app and website. It has also registered itself as an Application Service Provider (ASP) with CoWin. The HealthifyMe charges for vaccines were kept according to the Governments orders.
Earlier, Health- tech startups also took an initiative to help people lead a healthy and fit life during this 21-day nationwide lockdown to fight Covid-19. The company has introduced a free Immunity Assessment Test on the app and is also offering a free consultation to those who score low on immunity.
Some other services that HealthifyMe is offering to make its users stand strong in this coronavirus crisis are home workouts; daily live workouts with coaches and trackers for sleep, smoking, and hand washing. Users can access all these services under the 'Immunity Tab' of the HealthifyMe app. Many HealthifyMe reviews acknowledged the efforts that HealthifyMe made during the pandemic.
Vidhi PunamiyaHealthifyMe - Founders/Owners and team
Tushar Vashisht (CEO), Mathew Cherian, and Sachin Shenoy (CTO) are the Founders of HealthifyMe
Tushar Vashisht
HealthifyMe founder and current CEO is Tushar Vashisht. Before starting HealthifyMe, Tushar worked with the Unique ID Authority with the Government of India for nearly two years. Tushar started his career as an investment banker on Wall Street and in the Bay Area before moving to Singapore with Deutsche Bank. Tushar is a graduate of the University of Pennsylvania and a passionate musician by hobby.
Sachin Shenoy
HealthifyMe co-founder and CTO Sachin Shenoy is a Google Code-Jam finalist and is one of the fastest coders we know. He has over 15 years of experience out of which 6 were with Google, where he worked across Google Finance, Google SMS Channel, Orkut Developer Platform, and Google Dev. Platform. Sachin has 5 patent disclosures associated with his work.
Mathew Cherian left HealthifyMe in 2013. HealthifyMe has a team of more than 400 members and is continually growing.
How was HealthifyMe Started?
Tushar Vashisht was overweight when he returned to India eight years ago, after a stint as an analyst with Deutsche Bank in Singapore. His sedentary lifestyle continued after he took up a demanding project management role with the formative team that built India’s digital ID Aadhaar. Tushar was determined to do something about his flab and began by tracking the calories and nutrients in what he ate.
But he soon ran into a problem: there was little help available online in evaluating Indian dishes. Also at that time, Tushar and Mathew were working with UIDAI, and they took up an experiment to see what it feels like to live below the poverty line. Both the co-founders started living on just Rs 100 per day. During the experiment, Tushar and Mathew built an excel sheet with nutritional information on various Indian food.
Tushar came up with an analytical tool to break down the calories and main nutrients in 900 foods and presented it to the government’s planning council as a healthcare aid. This was how HealthifyMe started, the startup was then established in late 2011. Former Google employee Sachin Shenoy later joined him as a co-founder.
Rishabh Rathi
HealthifyMe - Business Model and Revenue Model
Ria AI first began interacting with HealthifyMe’s users in October 2017, when the company rolled out the service to a section of its paid subscribers as a pilot. Now, the service is available to all paid users among HealthifyMe’s more than one million users. The company, however, declined to reveal either the investment made into the bot so far or the firm’s paid subscriber base.
HealthifyMe subscription plans cost between Rs 999 and Rs 1,699 a month based on the features opted for. HealthifyMe has B2C as well as a B2B2C Business model. Though nearly 80% of the company's revenue comes from the B2C model, HealthifyMe also has a B2B2C model. In the B2B2C model, HealthifyMe distributes its services via corporates and healthcare institutions.
HealthifyMe - Revenue
HealthifyMe revenue is top Rs 100-cr level, the active user base of the app was reportedly doubled to 16 million. As of July 22, 2021, the app is now used by around 25 million users. Health and fitness app HealthifyMe has witnessed 3X growth, surpassing Rs 100 crore in revenue, fueled by the extensive adoption of its AI-enabled Smart Plans and international expansion
HealthifyMe - Funding and Investors
In total, HealthifyMe's total fundraising is worth around $100.1 million with over 8 rounds to date. Here are the details of HealthifyMe Funding and Investors.
Recently, in July 2021, the company raised over $75 million (Rs. 560 crores) in the Series C funding round led by investor Leapfrog, which is a leading US-based venture capital firm. The other new investors were Vinod Khosla and Elm, Saudi Arabia’s public investment fund.
While Healthify's existing investors include HealthQuad, Unilever Ventures, Chiratae Ventures, Inventus Capital, and Sistema Asia Capital, also participated in this round. The company is said to use these funds towards growing its customer base in America and deepen its focus and target local demographics in 12 different countries.
HealthifyMe funding also includes angel funding of $134,238 from angels introduced via the Microsoft accelerator and anchored by Tushar’s mentor from Aadhaar days Raj Mashruwala and Cofounder of AppLabs Sashi Reddi — both Raj and Sashi after their entrepreneurial successes in the US were now investing and mentoring start-ups in India. Microsoft Accelerator required them to be in Bangalore, India’s very own Silicon Valley.
| Date | Stage | Amount | Lead Investors |
|---|---|---|---|
| January 11, 2013 | Non Equity Assistance | $134,238 | Microsoft Accelerator Bangalore |
| February 3, 2014 | Venture Round | - | Microsoft Accelerator |
| June 18, 2015 | Seed | - | Gopal Srinivasan, Roopa Nath, Sashi Reddi, Pallav Nadhani & Amit Gupta |
| May 10, 2016 | Series A | $6 Million | Blume Ventures, Chiratae Ventures, Inventus Capital & NB Ventures |
| December 28, 2016 | Series A | $1 Million | Neelesh Bhatnagar |
| February 9, 2018 | Series B | $12 Million | Sistema Asia Capital |
| November 16, 2018 | Series B | $6 Million | InnoVen Capital |
| July 20, 2021 | Series C | $75 Million | Leapfrog, Vinod Khosla, Elm, HealthQuad, Unilever, Chiratae Ventures & Investus Capital |
Vidhi Punamiya
HealthifyMe - Partnership and Tie-ups
HealthifyMe works in partnership with various medical institutions such as Medanta, Apollo Hospitals, and Manipal Hospitals, with the aim to treat and prevent clinical obesity, diabetes, cardiovascular problems, and other lifestyle diseases. It has also partnered with MI to provide free consultation worth rupees 499 on the purchase of Redmi 3.
In February 2020, HealthifyMe announced partnerships with -
- Swiggy - For delivering healthy food ( from a list of restaurants offering healthy food curated by HealthifyMe) to its users.
- Milkbasket - HealthifyMe users can order groceries from Milkbasket through the HealthifyMe app.
- Fitternity - It is a fitness discovery and booking app, that will give the HealthifyMe users access to 12000+ gyms and fitness studios across India.
Chayanika Goswami
HealthifyMe - Competitors
HealthifyMe CEO, Tushar Vashisht once jokingly said that their biggest competitor is “lethargy”. Some of the main HealthifyMe competitors are WebMD Health, Weight Watchers International, GOQii and Curefit.
HealthifyMe - Awards
Some of the top HealthifyMe awards include the Google Play Top Developer Badge, which it received in December 2015. In addition to this, HealthifyMe was chosen as one of Google Play’s “Best Apps of 2015” and a 'Made in India' feature on the App Store.
In December 2016, HealthifyMe received the Google award for best apps on the Google Playstore in the Health & Fitness category for the second time in a row.
In December 2017, HealthifyMe app received the Google "Editor's Choice" award in the Health & Fitness category, apart from being named amongst the best apps of the year for the third time in a row. There are numerous HealthifyMe reviews that have given the platform 5 stars in many categories.
HealthifyMe - Growth
Around the last 12 months (Fy 2019-2020) , HealthifyMe has seen 3 times growth, surpassing Rs 100 crore in revenue run rate. As per February 2020 data, HealthifyMe's user base has increased four-fold, while, the number of active users doubled from 8 million to 16 million. Last year, the company entered Singapore, Malaysia and Brunei. In less than a year, it recorded a turnover of $ 1 million in the Southeast Asian Market.
The company has launched in Gulf Cooperation Countries market too and is already in the top 3 on Google Play in the UAE. HealthifyMe now has over 250 nutritionists and trainers on its platform, who are able to handle up to 250 clients, each thanks to the help they get from Ria. That’s up from around 100 users each back in 2016.
HealthifyMe - Future Plans
Expanding to new territories and giving Ria more capabilities are HealthifyMe’s short-term goals. The long-term goal is to be the world's go-to health and wellness service provider, giving users access to more services than nutrition and fitness.
The company is currently looking to explore new geographies in Southeast Asia and Asia Pacific Region. HealthifyMe aims to cross $50 million in Annual Recurring Revenue in the upcoming 12 months, and is targeting a turnover of $400 million by 2025.
HealthifyMe - FAQs
Who are the Founders of HealthifyMe?
HealthifyMe was Co-Founded in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy.
How much is the Revenue of HealthifyMe?
HealthifyMe revenues top Rs 100-cr level, the active user base doubles to 16 million.
Who are the Top HealthifyMe Competitors?
Some remarkable competitors of HealthifyMe are WebMD Health, Weight Watchers International, GOQii and Curefit
How much Funding did Healthify raise to date?
HealthifyMe has raised funding worth around $100 million over 8 rounds to date. Here are the details of HealthifyMe Investors.
What is HealthifyMe?
The company delivers measurable results on eating habits, fitness and weight and works with leading corporates and healthcare partners in India. HealthifyMe works on a freemium model.
How much does HealthifyMe cost?
Healthifyme diet plan cost range from Rs 999 to 1699 per month.
Is HealthifyMe a paid app?
Healthifyme is free, but also has a premium plan with numerous offers.
Is HealthifyMe safe?
HealthifyMe is one of the most trusted health and fitness app with over 16 million users and a 4.4 overall rating on play store.
What is HealthifyMe smart plan?
HealthifyMe smart plan offer costs Rs. 999 and includes a personalized diet plan, meal recommendations, access to RIA, daily reports.
Author: Shubham Kumar
Source : https://startuptalky.com/healthifyme/
Date : 2021-07-22T11:18:00.000Z