Weight-Loss App Noom Gets $540 Million in Silver Lake-Led Round

Noom Inc., whose app is designed to help people lose weight by changing their behavior, raised $540 million in a new funding round as it seeks to expand into other realms of personal health.

Private equity firm Silver Lake led the round, which also included investors such as health-care funds Oak HC/FT and Novo Holdings. Noom plans to use the money to hire fresh talent, Chief Executive Officer Saeju Jeong said in an interview.

Noom is valued at $3.7 billion after the round, according to people who asked not to be identified because the information was private. A ...