Thirty Madison will use the proceeds from the funding to expand the digital healthcare portfolio and roll out new products to treat chronic health conditions
US-based digital health company Thirty Madison has secured $47m new investment in a Series B financing round, led by Polaris Partners, an investment firm focused on healthcare sector.
New investor Johnson & Johnson Innovation – JJDC (JJDC) along with existing investors Maveron and Northzone also participated in the funding round.
With the current Series B financing round, the company has raised a total of $70m until date. The company intends to use the funding to further advance its digital healthcare offerings, aimed at enhancing the experience for patients with chronic conditions.
As part of the financing, Polaris Partners managing partner Amy Schulma will be appointed as a director in Thirty Madison’s board of directors.
Schulman said: “Over 59% of Americans suffer from at least one chronic condition, but few resources exist to help them connect the dots of their care,” said Schulman. “I have spent much of my career finding and implementing solutions predicated on putting patients first, and Thirty Madison represents the type of progress in healthcare that has become even more necessary and timely during this current moment.”
“As the former president of Pfizer Consumer Healthcare, Amy has had a transformative influence on the consumer healthcare space, and we are thrilled to have her leadership and guidance on our board of directors. With this funding, we will further expand our availability to deliver expert care as well as launch new brands to treat more of the conditions Americans face.”
Polaris Partners managing partner Amy Schulma will join Thirty Madison Board
Established in 2017, Thirty Madison has been providing individualised health care through its three portfolio brands, including Keeps for hair loss patients, Cove for migraine patients, and Evens for acid reflux.
The company said that its brands facilitate virtual doctor visits and offer a broad range of therapeutic treatments, tools, and educational content customised to address the patient needs, and are transforming the treatment for chronic conditions
In addition, patients can easily access specialist-level care along with the telemedicine and treatment delivery, through its Keeps, Cove, and Evens platforms.
Keeps was launched in January 2018, Cove was rolled out in January 2019, and Evens was introduced in September 2019.
Thirty Madison co-founder and CEO Steven Gutentag said: “We are excited to have JJDC as an investor, given Johnson & Johnson’s leadership across healthcare and consumer health, and their commitment to putting consumers and patients first.”