Gravity Labs, a global digital healthcare service provider, announced on the 2nd that it has secured a Series A round of funding worth 18 billion won. Following a 5 billion won Pre-A round in August of last year, the company secured an additional 18 billion won in Series A funding last month, bringing its total investment to 26 billion won in just three years since its founding.
This Series A round was led by Atinum Investment, with new investors including DSC Investment, Goodwater Capital, and Valon Capital. Existing investors Bass Ventures, Schmidt, Seoul National University Technology Holdings, HGI, and Tail Ventures all participated in follow-on investments. Bass Ventures, in particular, demonstrated strong confidence in the Gravity Labs team by investing in this round, its third consecutive investment, following its participation in the seed round and lead in the Pre-A round.
Gravity Labs, the operator of Moneywork, a global healthcare app that helps develop healthy habits through rewards and game elements, plans to use the funds raised through this investment to enhance its services and recruit talented individuals. As part of this effort, the company will begin a groundbreaking "key talent recruitment period" this month.
Moneywalk, operated by Gravity Labs, offers customers more than twice the rewards of other health reward apps, a key differentiator. In addition to walking, it also offers services for managing sleep, diet, emotions, body composition, and blood pressure, with increased rewards accruing for developing healthy habits.
Moneywork surpassed 1.3 million global monthly active users (MAUs) in just two and a half years since its launch. While generating operating profit, its monthly revenue has grown more than 20-fold compared to the previous year, demonstrating exceptionally rapid growth.
Gravity Labs is a global healthcare app used in 111 countries, including Korea, Japan, and the United States, with approximately 40% of its users coming from overseas. Gravity Labs' mission is to promote health and well-being for users worldwide by creating cumulative benefits from everyday healthy habits.
Kim Un-yeon, CEO of Gravity Labs, said, “We are preparing to evolve our existing services to achieve our mission of extending human health span by 10 years by creating a global No. 1 consumer healthcare service used by 100 million people every day.” He added, “Gravity Labs is recruiting the best talent to create a global No. 1 service, and we promise to provide them with appropriate treatment and compensation.”
Na Min-hyung, Director of Atinum Investment, which led this investment, said, "Gravity Labs is a team with a remarkable commitment to product and execution. They have built a virtuous cycle of service advancement and revenue growth through continuous experimentation. We decided to invest because we anticipate accelerated global business expansion and, ultimately, a leap forward in global healthcare services."
Yang Hyeong-jun, a director at Base Ventures who invested in Gravity Labs three times in a row, said, “Moneywork may seem like a simple health reward app, but CEO Kim Un-yeon is a founder who has been continuously solving problems related to extending human longevity and healthy lifespan since our first investment in 2022.” He added, “We invested three times in the company after seeing the team’s strong ambition to build the world’s largest healthcare business and their obsession with improving their products and business model.”
- See more related articles
You must be logged in to post a comment.