Health and wellbeing technology company Palta has raised £72 million in a Series B funding round.
The London-headquartered firm is aiming to empower a billion health-aware people through its ecosystem of innovative health and wellness apps.
The round was led by Per Brillioth at VNV Global, with participation of Target Global and other existing and new investors.
Palta health products deliver preventative healthcare for its customers. The platform has had more than 100m active users over the last 12 months and 2.4m active paid subscribers in its apps such as Flo.Health, Simple Fasting and Zing Fitness Coach.
“Stemming from my passion for building products which positively impact millions globally, Palta collaborates with those who share our values and vision,” said Yuri Gurski, CEO and founder of Palta.
“Palta Brain platform, the foundational powerhouse that drives our consumer digital apps, allows for much faster scaling of both products that we envisage internally, as well as those that come to us from the market. This can be seen clearly in our 10x growth in two years alone.
“Almost every tech company in the top-50 globally has more than one product, so do we. We believe that it helps to address the pain points of more customers, as well as creating opportunities for learning and cross-pollination.
“We are interested in adding more products to our offering by providing strategic investment into the new generation of health and fitness focused mobile apps.”
Brillioth added: “Mobile and preventative health services are the future of the health industry. As a result, Palta has proven its capabilities to develop and scale its wide range of leading mobile subscription products.
“This is why VNV and our partners Black Ice Capital and Winter Capital backed Palta because of their proven track record of success with products like Flo.Health and Simple Fasting that are delivering real word results to over 100m global consumers.”