# dietbet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dietbet

- Industry: Software
- Headquarters: New York, US
- Website: www.dietbetter.com
- Total disclosed funding: $1M
- Latest round: Series B (Mar 15, 2016)
- Investors on record: 3

## About

DietBet is a digital platform designed to facilitate weight loss challenges among participants by utilizing a gamified approach to fitness and health, fostering community support and accountability.Founded in 2010 in New York, US, DietBet is a company that enables individuals to achieve weight loss goals through community challenges. The founders, Cristina Leal and Jamie Rosen, have experience in developing engaging platforms. The company secured its latest funding of USD 1.90 mn in a Seed round on March 15, 2016, raising a total of USD 1.90 mn across five deals.DietBet offers core products that focus on enhancing weight loss engagement through online challenges. The primary service allows users to bet on their own weight loss goals, creating a competitive yet supportive environment. The platform also provides tools for tracking weight loss progress and connecting with other participants, aiming to motivate individuals to achieve their health objectives.The company's revenue model is based on participant entries into weight loss challenges, where users contribute to a pot that is distributed among successful participants. Additionally, DietBet generates income through fees associated with its platform, including transactions related to challenge entries. This B2C model facilitates user engagement while maintaining a transparent and accountable system for weight loss achievements.Looking ahead, DietBet plans to expand its offerings by developing new features aimed at enhancing user experience, with a focus on mobile application improvements slated for late 2023. The company is also targeting expansion into European and Asian markets by mid-2024 to capture a wider audience interested in fitness and weight loss. The recent funding will support these initiatives, particularly in enhancing technology and marketing efforts to drive user acquisition and retention.

## Funding rounds

- Series B, Mar 15, 2016 — Kima Ventures
- Seed, Sep 29, 2011, $1M — Wilson Sonsini Goodrich & Rosati, Sparx Ventures

## Investors

- Wilson Sonsini Goodrich & Rosati — Seed
- Sparx Ventures (https://capitalatlas.ai/funds/sparx-ventures) — Seed
- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Series B