Kevin Hart Invests in Weight-Loss App Simple: $35M Series B

The Genesis of Simple: Addressing Personal Struggles with AI

Mike Prytkov, the founder of Simple, understands the pervasive impact of stress on personal well-being. During the initial stages of building his previous company, Appness – an adtech firm – he experienced firsthand the consequences of overwork, including weight gain.

Following the successful exit from Appness, Prytkov explored various weight loss methods. These included rigorous exercise regimens, meticulous calorie counting, and intermittent fasting. While these approaches yielded results, maintaining consistency proved to be a significant challenge, as he shared with TechCrunch.

The Birth of Avo: An AI-Powered Health Companion

Prytkov’s primary desire was for a dedicated coach who could provide accountability. This realization led to the launch of Simple in 2019, an application leveraging artificial intelligence to facilitate weight loss. A pivotal addition came in 2023 with the introduction of Avo, an AI coach designed to deliver personalized guidance based on individual user needs and progress.

The core philosophy behind Simple, as Prytkov explains, is to empower individuals to achieve weight loss without succumbing to the guilt and restrictive practices often associated with conventional diet culture.

Having scaled the company to a substantial $160 million in annual recurring revenue (ARR) with a user base of 700,000 subscribers, Simple recently announced the successful completion of a $35 million Series B funding round. This round was spearheaded by HartBeat Ventures, the investment firm of actor Kevin Hart, bringing the company’s total funding to $45 million.

Initially, Prytkov had a co-founder, but is now leading the company independently.

Avo's Capabilities and Data Processing

Currently, Avo manages over 100,000 coaching interactions daily and processes nearly 300,000 meal logs each day, according to Prytkov. New users complete an initial assessment to create a customized program, and are then introduced to the AI coach.

The AI gathers data through user input, such as meal logs, and conducts evaluations to assess habits and nutritional intake. “The coaching is delivered through a chat powered by LLMs that adapt tone and content to each person, with memory for long-term context and constitution-based fine-tuning,” Prytkov stated.

Competitive Landscape and Differentiation

Simple directly competes with established players in the behavioral dieting space, notably Noom, which boasts millions of users. It also faces competition from WeightWatchers and MyFitnessPal. However, Prytkov emphasizes that Simple distinguishes itself by avoiding generic lessons and strict calorie tracking, and by not offering GLP-1 medications.

“We provide personalized coaching, not just tracking,” he clarified. “Avo dynamically adjusts daily plans encompassing nutrition, fasting, physical activity, and habit formation, while also offering real-time meal feedback and tailored check-ins.”

The app also serves as a complementary tool for individuals utilizing GLP-1 medications, functioning as a “behavior engine” to help maintain healthy routines even after medication is discontinued.

The Impact of LLMs and Future Expansion

The advent of Large Language Models (LLMs) has significantly enhanced the app’s personalization capabilities. “AI has changed both the product and the model,” Prytkov explained.

“Every conversation and every logged meal contributes to a closed-loop learning system that refines each user’s profile and improves our overall models,” he added. “With each iteration, Avo becomes more precise and proactive.”

HartBeat Ventures initiated contact with the company following the launch of Avo two years ago, recognizing its potential. Prytkov noted that while they weren’t actively seeking investment at the time, HartBeat’s alignment with their vision made the partnership appealing. The app had already demonstrated strong metrics, profitability, and growth.

Liquidity also participated in this funding round.

Vision for the Future: Beyond Weight Loss

Prytkov believes the app’s appeal lies in its non-clinical approach, making virtual wellness accessible and affordable. He intends to expand the company’s GLP-1 companion features and introduce specialized programs focused on women’s health and midlife wellness.

Ultimately, his ambition is to broaden the app’s scope beyond weight loss to encompass areas such as sleep, stress management, and physical activity. “Our vision is to become the Duolingo of health,” Prytkov concluded. “The goal is simple: to become the preferred, enjoyable health companion that people use daily, and the most effective means of establishing lasting healthy habits.”