RETROFIT Raises $2.7 Million From Three Leading Chicago Venture Funds and Angels
March 15 2012 - 1:00PM
Business Wire
RETROFIT LLC (retrofitme.com) – the data-driven weight
loss program for data-driven people – announced today that the
company completed a $2 million financing round led by I2A Fund, New
World Ventures, and FireStarter Fund, in addition to the $700,000
previously raised in late 2011. A number of prominent business
leaders committed to defeating the nation’s obesity epidemic also
participated in the financing.
“Although the obesity epidemic has reached crisis proportions in
the United States, there has been almost no disruptive thinking in
the weight loss industry. RETROFIT’s data-driven nutrition,
fitness, and counseling program promises to change that. The
approach is intensive without being invasive and the results are
promising. Over 90% of all clients report positive weight-loss
results, with an average of 1.1 pounds lost per week,” said Stuart
Larkins, Managing Director, I2A Fund. “We see great potential in
RETROFIT’s revolutionary model.”
The capital infusion will be used in RETROFIT’s ongoing efforts
“to ensure that our customers realize long-term weight loss
success,” said CEO Jeff Hyman. “Our mission is to free the healthy
person within all of us. We achieve this through a blend of
sustainable behavior change, data analysis, and personalized
support.”
“Our program marries advanced internet technology with direct
one-on-one counseling by a team of nutrition, fitness, and behavior
professionals,” Hyman said. “It is an optimal solution for busy
people whose schedules and responsibilities have made achieving
healthy weight levels so challenging. We are committed to turning
the tide on the obesity epidemic.”
During the 12-month program, RETROFIT clients follow a
personalized nutrition and fitness plan; attend weekly Skype video
meetings with a private team of registered dieticians, behavior
coaches, exercise physiologists; and use advanced wireless devices
to track weight, body composition, physical activity, and sleep
patterns from home.
Clients receive ongoing communication and reinforcement from
their personal professional advisors that helps new habits stick.
“It’s a very different approach and our clients love it,” Tucker
Toft-Dupuy, one of Retrofit’s 40 Wellness Experts, shares. “Our
Wellness Experts love it too. I get the high impact expert
interaction of my peers and we work together to change people’s
lives for good. Nothing could be more exciting.”
Retrofit markets its innovative service directly to consumers,
through employers, and physicians.
The investment group includes:
Lon Chow, General Partner, Apex Venture PartnersBrian Jacobs,
General Partner, Emergence Capital PartnersRenee LaBran, Partner,
Rustic Canyon Fontis PartnersMatt Ocko - Partner, Three Kingdoms
Capital PartnersShaun Abrahamson - Partner, EigenValue FundMatt
Dickinson - Partner, Growth AngelsLarry Levy, Chairman, Levy
RestaurantsDan Malven, Chairman, Analyte HealthSridhar Murthy -
CEO, Analyte HealthJai Shekhawat, CEO, FieldglassAncelmo Lopes,
CEO, AmeritoxJames Roberts, CEO, Chamberlain GroupJerry Acuff -
CEO, DeltaPointJeff Hughes - CEO, BizLabTom Peterson - CEO, Social
LeverageBrian Spaly - CEO, Trunk ClubHoward Lindzon - CEO,
StockTwitsDan Clifford - CEO, AnswerLabMatt Gray, President, G
BarDavid Rosenblatt, Vice Chairman, Arava PowerBob Brinker -
Publisher, Brinker Advisory Services
About RETROFIT:
RETROFIT provides a new high-tech, high-touch, and data-driven
approach to weight loss designed to deliver lasting results. Its
innovative year-long program includes wireless monitoring of a
client's weight, activity and sleep quality. Each client also
receives ongoing, individualized counsel from a registered
dietitian, exercise physiologist, and behavior coach. Retrofit can
be found on the web at www.retrofitme.com and 855-4-RETROFIT.