Noom, a NYC-based digital health platform focused on behavior change, raised approximately $540m Series F funding.
The round was led by Silver Lake, with participation from Oak HC/FT, Temasek, and Novo Holdings and existing investors Sequoia Capital, RRE, and Samsung Ventures.
The company intends to use the funds to expand its business reach and for share repurchases.
Led by Saeju Jeong, Co-founder and CEO, Noom is a psychology-based digital health platform powered by data, technology, and human coaches. The company will use the capital to expand its behavior change platform to address a broad range of conditions with meaningful opportunity to further generate positive change across health, including stress and anxiety, diabetes, hypertension, and sleep.
The company also announced two new board members, Adam Karol, Silver Lake Managing Director, and Stacy Brown-Philpot, former TaskRabbit CEO and SB Opportunity Fund Founding Member, who joins Noom as an independent director.