Stockholm-based Lifesum (formerly ShapeUp Club) has more than 4 million registered members for its app which helps users set health-eating plans and track exercise. The megahit from Sweden first became popular in the Scandinavia and since then their reach has taken them across all of Europe.
Today the company announced the closing of a $6.7 million investment round led by Bauer Media Group and SparkLabs Global Ventures. What makes the round somewhat particular is the fact that its by far this years largest first round financing in Europe.
The significant sum will be used to drive the Lifesum app towards increasingly international expansion and deeper into the multibillion global mobile health markets which is only speculated to grow in size in the near future. .
Bauer Media Group is a german publishing company with more that 600 magazines including Intouch, Cosmopolitan and Shape. SparkLabs is a recent newcomer in the seed-stage investment funds.