What You Should Know:
– Direct-to-consumer telehealth company Thirty Madison raises
$47M in Series B round from Johnson & Johnson and Polaris Partners.
– Thirty Madison’s three portfolio brands — Keeps, Cove,
and Evens — enables patients to easily access specialist-level care
combined with the convenience of telemedicine and treatment delivery.
Thirty
Madison, a New York City-based digital health
company reinventing the patient experience for the estimated 133 million
Americans living with chronic conditions, today announced a $47 million Series
B round led by Polaris Partners.
New investor Johnson & Johnson
Innovation – JJDC, Inc. (JJDC) also participated in the funding, along with
existing investors Maveron and Northzone. Thirty Madison has raised a total
of $70 million to date.
Direct-to-Consumer Telehealth Brands
Founded in 2017 by Steven Gutentag and Demetri
Karagas, Thirty Madison was launched with a single vision: To build the
highest quality care experiences for treating chronic health conditions. Through
Thirty Madison’s three portfolio brands — Keeps, Cove, and Evens — patients can easily access
specialist-level care combined with the convenience of telemedicine and
treatment delivery. Each platform offers individualized health care to patients
suffering from hair loss (Keeps), migraine (Cove), and acid reflux (Evens) at
an affordable cost. With virtual doctor visits and a wide range of therapeutic
treatments, tools, and educational content individually tailored to the needs
of patients, these groundbreaking brands are reimagining and improving the way
chronic conditions are treated.
Thirty Madison offers not only a differentiated platform –
which allows Keeps, Cove, and Evens to deliver specialist-level care across a
spectrum of health issues, but also a novel approach to modernizing healthcare.
For Thirty Madison, there is no one-size-fits-all approach when it comes to
treatment—or to products. In addition to providing a range of issue-appropriate
treatment options, the brands also partner directly with innovative healthcare
companies to provide patients with increased access to the latest treatment
options and offer meaningful cost savings.
Traction/Milestones
Thirty Madison’s first brand, Keeps, launched in January
2018. Halfway through 2020, Keeps has surpassed its 2019 revenue and is a
recognized leader in the hair loss space, helping hundreds-of-thousands of
customers manage hair loss while improving and expanding access to treatments.
Using Keeps’ success as a proof-of-concept, Thirty Madison built on the
capabilities of their platform to launch their next care model, Cove, the first
direct-to-consumer treatment option for migraine, in early 2019. Cove has made
high-quality migraine care more accessible, affordable, and actionable than
ever, helping 70% of patients see a reduction in migraine severity and driving
a 79% reduction in ER visits due to migraine. Evens, launched at the end of
2019, is the first telehealth solution for acid reflux, a chronic condition
that causes heartburn and affects over one-quarter of Americans.
With this new round of investment, Thirty Madison plans to
further innovate in the digital healthcare space, specifically making the
overall experience more enjoyable for those with chronic conditions. Steven
Gutentag, co-founder and CEO of Thirty Madison notes, “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.”
