Noom
“Can a behavioral-science weight-loss app become the dominant end-to-end chronic-condition management platform by combining GLP-1 telehealth, AI coaching, and employer benefit distribution?”
Founded2008
HQNew York, NY (also Princeton, NJ listed as corporate office)
Total raised$659M+
Latest roundSeries F, 2021
IndustryVertical SaaS / Healthcare
The story
Founded in 2008 as WorkSmart Labs, Noom pivoted to a consumer subscription weight-loss app leveraging behavioral psychology and human coaching. It expanded into employer/B2B wellness partnerships, then aggressively entered the GLP-1/telehealth space with Noom Med circa 2023—positioning itself at the intersection of digital health coaching and prescription weight management. The $540M Series F in 2021 was intended to fund global expansion and deeper penetration of employer benefit programs.
Product timeline
2008
Founded as WorkSmart Labs in New York City.· pivot
2016
Rebranded to Noom; pivoted fully to consumer weight management subscription app.· pivot
2019
Raised $58M Series E led by Sequoia; began expanding enterprise/employer wellness programs alongside D2C.· banking
2021
Raised $540M Series F led by Silver Lake to expand geographies and employee benefits programs.· banking
2023
Launched Noom Med, a telehealth program offering GLP-1 medications (e.g., Wegovy, Ozempic) alongside behavioral coaching.· pivot
2024
Expanded Noom Med with branded medication-included plans and telehealth for branded meds.· pivot
The stack
1 layer disclosed in Noom’s embedded-finance stack
Payments / PSP
Accounting gap: none