Bengaluru: Well being and wellness platform HealthifyMe is mulling an preliminary public providing (IPO) within the subsequent 24 months even because it plans to clock an annualised income run price (ARR) of $200 million across the identical time.
Annual income run price is a forecasting methodology that helps predict the monetary efficiency of an organization over a yr based mostly on previous earnings information.
“We’re seeing a change in folks’s mindset in the direction of utilizing behavioural change apps like HealthifyMe and we plan to the touch $200 Million ARR in 20-24 months. We might consider an IPO after we attain there,” Tushar Vashisht, cofounder of HealthifyMe, informed ET.
The corporate plans to attain $100 million ARR within the subsequent eight months.
HealthifyMe, based in 2012 by Vashisht, Sachin Shenoy and Mathew Cherian, presents companies equivalent to calorie monitoring, one-on-one diet, health teaching, weight-reduction plan monitoring, and exercise plans.
The platform has round 30 million customers in additional than 300 cities. The app has round 2,000 well being and health coaches and round 300 workers.
HealthifyMe can also be launching offline expertise centres referred to as ‘HealthifyMe Shops’ within the subsequent three to 6 months to assist its customers perceive its choices within the subsequent 3-6 months. The shops may additionally have well being testing amenities.
“Even earlier than the pandemic we wished to launch this however we couldn’t. We’re planning to rent some senior administration folks to work on this. Up to now that is on the whiteboard stage,” Vashisht mentioned.
HealthifyMe has rebranded its choices and app by launching well being tech gadgets equivalent to a sensible weighing scale and real-time glucose displays. With the rebranded providing, the corporate plans to develop in world markets equivalent to North America, Southeast Asia and Western Europe.
“The brand new professional model will provide real-time glucose monitoring together with its different premium companies. We plan to clock at the least 20-30% of our total income from this new phase,” Vashist informed ET.
For the brand new model, the corporate has partnered with healthtech and pharma gamers equivalent to Healthians, Redcliffe Labs, MFine and PharmEasy.
HealthifyMe has raised $75 million in a funding spherical in July 2021, led by influence investor Leapfrog, US-based enterprise capital investor Vinod Khosla, and Elm, Saudi Arabia’s public funding fund.
With that, HealthifyMe’s complete fundraising stood at over $100 million.
In August, the corporate introduced an fairness buyback programme value $12 million (Rs 90 crore). HealthifyMe mentioned the shares of the buyers had been being purchased again by its treasury.
The corporate is now investing in its new initiatives, equivalent to its situation administration providing for patrons with power medical circumstances equivalent to diabetes, polycystic ovary syndrome, excessive ldl cholesterol, hypertension and thyroid-related illnesses.
Additionally it is trying to collaborate and associate with artificial-intelligence-based meals and neighborhood well being startups to supply companies on its platform.
“We’re focussed on hyper-scaling inside our platform proper now. From subsequent yr we are going to begin extra acquisitions and mergers,” Vashisht mentioned.