Health monitoring app MyFitnessPal has secured $18 million in VC funding which it plans to use to improve its products and expand internationally.

MyFitnessPal plans to better analyse entries logged by its users to determine what diets and fitness plans are most effective and provide more of this information to users, according to the Wall Street Journal.

The app has 40 million users around the world and is attracting more than 1.5 million new users per month. With the app being offered for free, the company makes its money through advertising.

Prior to the investment, the company had been funded by founders Mike and Albert Lee and employee contributions.

“With this funding, we are now perfectly positioned to expand our product, team and audience reach and empower consumers throughout the world to reach their health goals, build healthy habits and live healthy lives,” said Mike Lee.

The funding has been led by venture capital firms Kleiner Perkins Caufield & Byers and Accel Partners. Both companies will have places on the MyFitnessPal board.

The investment values MyFitnessPal at between $100 million and $120 million, according to a source.