US-based health maintenance app developer Noom received $58m in funding on Monday from investors including Samsung Ventures, a corporate venturing subsidiary of consumer electronics producer Samsung.
The round was led by venture capital firm Sequoia Capital and also featured Aglaé Ventures, a subsidiary of investment holding company Groupe Arnault, and private investors Jan Koum, Tony Xu, Josh Kushner and Scooter Braun.
Founded in 2008, Noon has developed a mobile app that helps users lose weight, live a healthier lifestyle or manage chronic illnesses, by providing access to a dedicated health coach and helpful personalised content.
The company also provides products for enterprise clients, such as apps focused on helping manage diabetes and hypertension. The cash will support strategic hires, including product managers, designers and engineers.
Samsung Ventures had already invested an undisclosed amount in Noom in 2016, the year after it raised $16.2m in series B funding from Qualcomm Ventures and Hanmi IT, respective subsidiaries of mobile chipmaker Qualcomm and drug developer Hanmi Pharmaceutical, as well as InterVest, LB Investment, RRE Ventures and TransLink Capital.
Noom previously received $7m in a 2014 series A round that included contributions from Qualcomm Ventures and Recruit Strategic Partners, a corporate venture capital vehicle for human resources firm Recruit, in addition to Translink Capital, RRE Ventures, Scrum Ventures and Harbor Pacific Capital.
Qualcomm Ventures, Harbour Pacific Capital and M8 Capital had already taken part in a $2.6m round for the company in 2012, adding to a $2.5m seed investment it received from Kleiner Perkins Caufield & Byers the year before.