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.”
