This morning Thirty Madison, known for its online men's health platform focused on male patterned baldness Keeps, announced that it landed $15.25 million in Series A funding. This round was led by Maveron and Northzone with participation from Greycroft, Steadfast Venture Capital, First Round, Entrepreneurs Roundtable, HillCour and Two Rivers.
The company plans to use the new money to launch a platform that will cater to patients with migraines, which it will call Cove. The platform will offer users virtual consultations with doctors and track their migraine incidents. Users will then get treatment through the mail, according to the company.
The company has already been using a similar model with its first product, Keeps, which lets users consult an online doctor about their male pattern balding. Keeps users receive personalized treatment plan and prescriptions as needed and a 90-day supply of FDA-approved treatments. The platform charges users by the month.
Why it matters
The Migraine Research Foundation estimates that migraines are the third most prevalent illness in the world, impacting 12 percent of the American population. The condition effects 18 percent of American women and 6 percent of men.
The company said that fewer than half of individuals with migraines seek care and most that do discontinue treatment. The company proposes solving this issue with its online platform that is designed to offer convenience and lower costs.
“Most young people no longer have a primary care physician, the costs of care are skyrocketing, and patients are increasingly thinking like consumers — yet the healthcare experience has not evolved to meet any of this. We want to change that,” Steven Gutentag, cofounder of Thirty Madison, said in a statement. “AtThirty Madison, we’re rebuilding the healthcare experience to deliver better and more affordable outcomes for healthcare consumers. My cofounder Demetri Karagas and I have seen incredible traction with Keeps, and we’re excited to do the same with Cove.”
Several digital health companies have begun looking to make products targeted at people with migraines. Notably, Healint, a headache-focused digital health startup, teamed up with Novartis on a study that would look at how migraines interact with anxiety and depression.
On the record
“Today’s consumers are looking for the most convenient way to manage their chronic conditions, all on their own terms. They want a service that provides personalized treatments with quality, customer-first care, and Thirty Madison was built to meet those needs. Steve and Demetri have a broad vision for making Thirty Madison the first truly customer-centric healthcare company, and they’ve proven with Keeps that they can successfully execute against it,” Jason Stoffer, partner at Maveron, said in a statement. “ThirtyMadison is transforming the healthcare experience by doing what no one else has, deeply understanding each chronic condition and building unique, targeted solutions that address what’s most needed by these millions of healthcare consumers. We’re so excited for what’s next.”