Thirty Madison opened its doors just a few short years ago, in 2017. Steven Gutentag and Demetri Karagas founded the company with a pretty straight-forward mission: to provide its customers with the highest quality care experiences for the treatment of their chronic conditions. Catering to the 133 million Americans who live with chronic health conditions, Thirty Madison uses telehealth platforms to deliver specialist-level care.
The COVID-19 pandemic has helped boost countless telehealth startups, as patients and providers alike wish to avoid exposure to the virus. Virtual visits and prescription delivery have provided a rare boost to the economy while Wall Street watches many other industries’ shares rapidly decline. However, Thirty Madison was going strong even before the Coronavirus reached American shores and has seen steady growth ever since its inception.
A recent Series B funding round added another $47 million to Thirty Madison’s pot. The round was led by Polaris Partners, a noted healthcare venture capitalist firm. They even attracted the attention of Johnson & Johnson Innovation (JJDC), who joined as a new investor, alongside return investors Northzone and Maveron. In their three years of fundraising, the company has secured $70 million.
Gutentag expressed gratitude over their recent success. "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," he said in a statement. The exact amount of Johnson & Johnson’s contribution has not been disclosed.
Johnson & Johnson is known to manufacture treatments for two out of the three conditions that Thirty Madison focuses on: acid reflux and hair loss. Each of the company’s three portfolio brands focuses on a different chronic condition. Thirty Madison offers patients individualized care via Keeps, which works on hair loss; Cove, which deals with migraines; and Evens, which targets acid reflux. Each brand walks customers through virtual doctors’ visits, treatment options and personalized tools via a complete package that offers affordable care. The company eschews a one-size-fits-all approach to healthcare and develops a highly individualized plan for each patient, based on his or her guidance and contribution every step of the way.