New York-based healthcare startup Thirty Madison has bagged $47 million in fresh funding which is dubbed as Series B. Polaris Partners are leading the investment with support from new investor Johnson & Johnson Innovation along with existing investors Maveron and Northzone.
Before this round, the firm had raised $15.3 million in Series A round in October 2019. That round was co-led by Maveron and Northzone. The current investment takes the total amount raised by the firm close to $70 million. The other backers of the firm include names like Entrepreneurs Roundtable Accelerator, First Round Capital, Steadfast Venture Capital, Greycroft, Two River, and others.
Thirty Madison was founded by Steven Gutentag and Demetri Karagas in 2017 in an attempt to help everyone get the highest quality care experiences for treating chronic health conditions. It offers virtual doctor visits and a wide range of therapeutic treatments, tools, and educational content to the users that help them get these details sitting at home.
Gutentag, the CEO of the company talking about the investment from Johnson & Johnson said that "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."
As part of the financing, Polaris Partners’ Amy Schulman is joining the board of Third Madison. Commenting on the financing he notes, "Over 59% of Americans suffer from at least one chronic condition, but few resources exist to help them connect the dots of their care. 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."
The firm has launched Keeps, a brand that helps in hair treatment, Cove that assists in migraine treatments and Evens that is meant to provide acid reflux treatment service. It will be interesting to see how the firm utilizes fresh funds and increases its user-base.
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