Kleiner Perkins' iFund invests in Android fitness app maker WorkSmart
WorkSmart Labs, which develops health and fitness applications optimized for Google's (NASDAQ:GOOG) Android mobile operating system, is the latest beneficiary of venture capital firm Kleiner Perkins Caufield & Byers' iFund, created to fund innovations across Apple's (NASDAQ:AAPL) iOS platform. The funding total was not disclosed.
Kleiner Perkins' iFund invests inWorkSmart Labs, the makers of Noom Weight Loss (pictured).
The WorkSmart Labs portfolio includes the Noom Weight Loss exercise tracking and food logging motivation app, fitness trainer solution CardioTrainer and calorie counter Calorific. The startup reports 6 million downloads to date, up from 4 million early this year. Speaking at an iFund event Thursday evening, Kleiner Perkins partner Matt Murphy said WorkSmart Labs recently submitted its first iPhone app to Apple's App Store.
Three years after first launching the iFund--increased to $200 million in March 2010--Kleiner Perkins has now invested in 25 application developers and notes that iFund-backed apps are expected to generate over 300 million downloads by the end of 2011. TechCrunch reports that iFund-backed apps are on pace to yield $250 million in revenues this year.
- read this WorkSmart Labs blog entry