MyFitnessPal Raises $18M in Venture Capital

Diet and exercise app MyFitnessPal has raised $18 million in venture capital funding from Kleiner Perkins Caufield & Byers and Accel Partners, according to reports.

The app is designed to help people keep track of their calorie consumption and exercise and connect with friends for support in order to meet weight loss goals. It features a food diary to give users an awareness of their nutritional intake. The app also has a tool that lets users search for the calorie counts of items on chain restaurant menus. According to the site, the app already has 40 million users.

The Wall Street Journal has the story about the funding.

The venture capitalists backing MyFitnessPal think there is a lot more business to win. “There hasn’t been as much disruption yet in the health, wellness and fitness space,” said Andrew Braccia of Accel Partners, who is joining MyFitnessPal’s board, along with John Doerr from Kleiner Perkins.