Press Releases

Chicago, Ill. (November 13, 2012) - Retrofit, the expert-led, data-driven weight loss program for busy professionals, is solidifying its commitment to reduce skyrocketing healthcare costs for corporate America. The highly successful weight loss company is giving away up to $300,000 in free services to transform and revitalize one lucky company selected in the groundbreaking "Retrofit My Company" contest.

"Employers incur an average of almost $1,500 a year in additional healthcare expenses for each overweight employee," said Retrofit CEO Jeff Hyman. "Such high costs drain companies of money that could otherwise be invested in growth, new products, and hiring. Retrofit is awarding its program to one company, which will reap the health benefits of weight loss at no charge."

Retrofit also announced today that it has raised $8 million in a Series A financing led by Draper Fisher Jurvetson (DFJ). This brings the total investment in Retrofit to $10.7 million, including funding from Correlation Ventures, Hyde Park Angels, New World Ventures, and I2A Fund.

DFJ believes in data-driven weight loss as a massive market opportunity and investing in emerging trends before they become mainstream.

"The office is a great place to drive participation in the Retrofit program, and it can have a profound impact on reducing healthcare costs for corporate America," said Mohanjit Jolly, DFJ Managing Director. "I've experienced the power of this program first-hand in my own office, as a couple of my colleagues have joined the program and we support each other through healthy competition."

More than 90% of Retrofit clients are losing weight on the innovative program that uses the latest technology in wireless tracking devices along with highly-trained wellness experts. Each client consults with a registered dietitian, exercise physiologist, and behavior coach via Skype™ videoconferencing. Retrofit has 80 full-time and part-time employees nationwide.

Two-thirds of Americans are overweight, and costly related health conditions, including cardiovascular disease and Type 2 diabetes, are soaring. According to a Duke University study, the combined estimated value of medical expenditures, absenteeism, and reduced productivity resulting from overweight full-time employees is $73.1 billion per year.

The Retrofit My Company contest aims to help turn the tide on America's obesity epidemic. Retrofit wellness experts, who teach sustainable behavior change through private lessons, will spend a year transforming the winning company into a healthy and energized workplace.

"With the Retrofit program, a wide range of our employees were excited to take part in losing weight alongside their co-workers. The strong appeal of this program, with its wireless devices and private one-on-one expert support, led over 100 of our employees to join Retrofit," said Donna Jennings, Senior Vice President of Human Resources of DeVry University. "Results have been very positive with over 90% of our employees losing weight. More importantly, our organization is becoming more wellness-oriented. Enabling both the organization changes and the individual transformations is incredibly rewarding."

Retrofit delivers personalized weight loss programs to consumers and corporate clients including: Dolby, Oreck, Sagent Pharmaceuticals, Millenium Pharmacy Systems, and more.

The "Retrofit My Company" Contest launches on November 13, 2012 at 12:00 AM (CST) and closes on December 12, 2012 at 11:59 PM (CST). Qualifying entrants simply submit a 500-word essay describing why they should win a free year of weight loss for up to 100 co-workers at RetrofitMyCompany.com. The Grand Prize winner will be announced January 2, 2013.

Prominent judges for the Retrofit My Company contest include: J.B. Pritzker, Managing Partner of The Pritzker Group; Larry Levy, CEO of Levy Organization; Bruce Cazenave, CEO of Nautilus Inc.; Wayne Cooper, Publisher and Chairman of Chief Executive Group; Jeffrey Yordon, CEO and President, Sagent Pharmaceuticals; and Dr. Holly Wyatt, Clinical Researcher at The Center for Human Nutrition.