Noom, a US-based health app developer, has raised $16.15m in its series B round from investors including Qualcomm Ventures, the investment arm of US-based semiconductor company Qualcomm.
Qualcomm Ventures was joined in the round by South Korea-based venture capital firm InterVest, South Korea-based private equity firm LB Investment, and US-based venture capital firms RRE Ventures and TransLink Capital.
Hanmi IT, a subsidiary company of South Korea-based Hanmi Pharmaceutical, also took part in the round.
Noom also raised $7m in its February 2014 series A round from Qualcomm, Translink, RRE and US-based venture capital firms Scrum Ventures and Harbor Pacific Capital along with US-based incubator and venture capital firm Recruit Strategic Partners.
In December 2012 Noom received KRW2.8b ($2.5m) from Harbor Pacific Capital, Qualcomm and UK-based venture capital firm M8 Capital. This followed the KRW2.8b seed round in June 2011 that saw US-based venture capital firm Kleiner Perkins Caufield & Byers invest.
Noom plans to use the funding to develop its coaching platform that uses human and artificial intelligence systems to drive changes in behaviour. This can be used to help those with chronic illnesses control their conditions.
Saeju Jeong, chief executive of Noom, said: “We have had a tremendous response from the healthcare industry already this year. This round of funding will enable us to rapidly expand upon the work we have already begun in diabetes prevention to include helping cancer and congestive heart failure patients.”