STRUCTURAL CAPITAL

Meet Noom

Born in South Korea to a family of doctors, Noom Founder Saeju Jeong has always had an intense desire to help people. From an early age, he knew his life’s work would be dedicated to improving the well-being of as many people as possible. After founding South Korea’s first-ever heavy metal record label, it was the death of his father that prompted Saeju to become motivated to change lives for the better and use his entrepreneurial spirit to make an impact. After dropping out of college and moving to the US, Saeju met his co-founder Artem Petakov, who shared his vision of helping people live healthier lives, and Saeju convinced him to leave Google to start Noom in 2008.

After consistently ranking as the top health and wellness app in the Google Play store for ~4 years, the Company started seeing a broader market opportunity and evolved its food logging and fitness app to a broader diabetes prevention and weight loss app in 2013. After starting to gain product-market fit in 2017, the Company repositioned itself to primarily focus on the DTC channels in 2017, which began to experience Noom’s fast-paced growth. Noom sought out non-dilutive capital to help fuel this growth and in a competitive process, Structural Capital stood out for its flexible growth capital structure. Structural Capital’s extensive track record of working with successful companies at all stages of their lifecycle helped guide our insights to identify the massive potential of the Noom investment opportunity. Structural’s financing enabled the Company’s accelerated growth well ahead of top tier investors Sequoia Capital and Silver Lake.

Today, Noom is one of the most recognized behavior change platforms and most loved weight loss programs, helping to transform the lives of millions around the world.