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Mar 16

RETROFIT Raises $2.7 Million From Three Leading Chicago Venture Funds and Angels

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SKOKIE, Ill.--(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 nations 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. RETROFITs 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 RETROFITs revolutionary model.

The capital infusion will be used in RETROFITs 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. Its a very different approach and our clients love it, Tucker Toft-Dupuy, one of Retrofits 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 peoples 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 Partners Brian Jacobs, General Partner, Emergence Capital Partners Renee LaBran, Partner, Rustic Canyon Fontis Partners Matt Ocko - Partner, Three Kingdoms Capital Partners Shaun Abrahamson - Partner, EigenValue Fund Matt Dickinson - Partner, Growth Angels Larry Levy, Chairman, Levy Restaurants Dan Malven, Chairman, Analyte Health Sridhar Murthy - CEO, Analyte Health Jai Shekhawat, CEO, Fieldglass Ancelmo Lopes, CEO, Ameritox James Roberts, CEO, Chamberlain Group Jerry Acuff - CEO, DeltaPoint Jeff Hughes - CEO, BizLab Tom Peterson - CEO, Social Leverage Brian Spaly - CEO, Trunk Club Howard Lindzon - CEO, StockTwits Dan Clifford - CEO, AnswerLab Matt Gray, President, G Bar David Rosenblatt, Vice Chairman, Arava Power Bob Brinker - Publisher, Brinker Advisory Services

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RETROFIT Raises $2.7 Million From Three Leading Chicago Venture Funds and Angels

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