Thirty Madison Raises $47M in Series B Financing From Polaris Partners, Johnson & Johnson Innovation - JJDC, Inc. and Existing Investors

Funding to enable expansion of digital healthcare portfolio and launch of new brands to treat chronic health conditions

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Aug 14, 2020, 07:00 ET

NEW YORK, Aug. 14, 2020 /PRNewswire/ -- Thirty Madison, a leading 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.

Thirty Madison, founded in 2017 by Steven Gutentag and Demetri Karagas, 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.

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."

Amy Schulman, managing partner at Polaris Partners, will also join Thirty Madison's Board of Directors. "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."

Gutentag adds, "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."

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.

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.

About Thirty Madison
Thirty Madison makes specialized care and clinically-proven treatments accessible and affordable for everyone by bringing the specialist experience directly into people's homes with online doctor consultations, treatment delivery, and ongoing support. The company prioritizes and enables the cultivation of meaningful doctor-patient relationships to provide the best care for successful management of lifelong condition(s). Keeps launched in January 2018 and is a recognized leader in the hair loss space. Cove launched in January 2019 to serve migraine sufferers and is growing rapidly; and Evens, the first brand for acid reflux, launched in September 2019.

Contact: [email protected]

SOURCE Thirty Madison