Thirty Madison, a New York-based telehealth company, focusing on treating chronic health conditions, announced a $140 million Series C round.
The round was led by new investor HealthQuest Capital. Mousse Partners and Bracket Capital also participated in the funding with existing investors Polaris Partners, Johnson & Johnson Innovation – JJDC, Inc., Northzone, Greycroft, and others.
Thirty Madison has raised $210 million to date and is now valued at over $1 billion.
With the new round of funding, Thirty Madison plans to expand access to its specialist-level care model to people suffering from chronic conditions in the U.S. According to the company, the expansion includes enhancing the capabilities of its platform and launching new brands focused on encouraging better health outcomes and patient experiences across conditions.
Thirty Madison was founded in 2017 with a vision to treat chronic conditions – hair loss, migraine, and acid reflux. The company provides telemedicine services under three brands Keeps (hair loss), Cove (migraine), and Evens (acid reflux).
Along with these chronic conditions’ treatments, the company also partners with healthcare companies to provide patients expanded access to the latest treatment options and offer cost savings.
“We envision a future where the healthcare system puts the patient first – and that requires a complete reinvention of the experience so that it is high-quality, accessible, and even enjoyable,” said Steven Gutentag, co-founder, and CEO of Thirty Madison. “We’re building a company where every individual with a chronic condition can turn to us for high-impact specialty care that significantly improves the way they live their life every single day.”
The telehealth category witnessed a massive influx of VC funding during the first quarter (Q1) of 2021, raising a total of $2.4 billion, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report. Recently, Doktor.se, a Swedish telemedicine app, announced a funding round of €50 million (~$61 million).