The Health and fitness apps segment has been a rare winner during the Covid-19 pandemic. Sistema Asia Fund backed HealthifyMe has seen a 50% growth in customer engagement since March, with its app growing by a similar percentage according to CEO, Tushar Vashisht.
The company is on path to clocking $20 million in annual run rate by January 2021, Vashsisht told TechCircle.
“Use of AI-based plans have helped us keep the pricing varied. It ranges from Rs 250 for our smart plan to Rs 2000 for the high-end coach-plus plan,” Vashisht said, adding that the company has also managed to reduce its reliance on marketing due to an uptick in organic growth.
HealthifyMe, which is owned and operated by Caeruz Ventures, registered losses of Rs 34.4 crore for the financial year ending March 2019, as compared to losses of Rs 28.2 crore in the year before.
Founded in 2012 by Vashsisht and Sachin Shenoy, HealthifyMe differentiates itself from close competitors including CureFit and Fittr by focusing on weight loss as an end goal with a target group of people in their thirties or forties.
The company which has a presence in Malaysia and Singapore, plans on expanding its operations to Indonesia and the Middle East. The company has also added live workout classes to its product offerings and plans on testing its weight-loss program under clinical conditions during the coming year.