Total amount raised
$183.2 Millions
Latest funding date
8/1/2020
Location
Thirty Madison has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform focuses on providing specialized healthcare services through a virtual-first approach.
Keep reading to explore the intricacies of Thirty Madison's fundraising journey and the investors backing this innovative healthcare platform.
What Is Thirty Madison?
Thirty Madison, founded in 2017, is a healthcare company based in New York City. The company was established by Steven Gutentag and Demetri Karagas.
Specializing in virtual-first healthcare, Thirty Madison offers online consultations and telehealth services tailored to specific medical needs. Their approach prioritizes accessibility and convenience for patients.
With a growing team, Thirty Madison employs over 200 individuals dedicated to revolutionizing the healthcare experience through technology and innovation.
How Much Funding Has Thirty Madison Raised?
- Seed Round
- Amount Raised: $7.5M
- Date: November 2017
- Lead Investors: Maveron
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial healthcare offerings.
- Series A
- Amount Raised: $15.3M
- Date: October 2018
- Lead Investors: Maveron, Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's service offerings and scale its virtual-first healthcare model.
- Debt Financing
- Amount Raised: $18.5M
- Date: January 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and further development of the platform.
- Series B
- Amount Raised: $47M
- Date: August 2020
- Lead Investors: Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand the customer base.
- Series C
- Amount Raised: $140M
- Date: June 2021
- Lead Investors: HealthQuest Capital
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand access to the care model for chronic conditions and enhance the proprietary platform.
- Funding Round
- Amount Raised: $1.3M
- Date: April 2024
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational needs and future growth initiatives.
Total Amount Raised: $229.6M. Current Valuation: Over $1 billion.
Key Investors
- HealthQuest Capital
- Details: HealthQuest Capital is a growth capital firm based in the San Francisco Bay Area. They invest in commercial-stage companies that optimize value in healthcare by improving outcomes and reducing costs.
- Investment Focus Areas: Medical technologies, diagnostics/tools, digital health, innovative services.
- Notable Investments: Not specified.
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. Amy Schulman, Managing Partner at Polaris Partners, is a member of Thirty Madison's Board of Directors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Akamai, LogMeIn.
- Johnson & Johnson Innovation – JJDC, Inc.
- Details: Johnson & Johnson Innovation – JJDC, Inc. is the venture capital arm of Johnson & Johnson. They focus on investments that align with Johnson & Johnson's strategic interests in healthcare and life sciences.
- Investment Focus Areas: Healthcare, life sciences.
- Notable Investments: Not specified.
- Northzone
- Details: Northzone is a venture capital firm that invests in technology and consumer internet companies. They have a strong presence in Europe and the U.S.
- Investment Focus Areas: Technology, consumer internet.
- Notable Investments: Spotify, Klarna.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in technology and media companies. They have a diverse portfolio of early and growth-stage companies.
- Investment Focus Areas: Technology, media.
- Notable Investments: Venmo, The RealReal.
What's Next for Thirty Madison?
Thirty Madison stands at the cusp of significant growth opportunities. With a focus on expanding its specialist-level care model for chronic conditions, the company aims to enhance its proprietary platform and launch new brands. This expansion is bolstered by a recent $140 million Series C funding round, elevating its valuation to over $1 billion.
Future fundraising opportunities appear promising as the company continues to demonstrate successful outcomes and growth. However, challenges such as scaling operations, maintaining high-quality care, and navigating regulatory requirements remain. Competition from other healthcare providers and digital health companies also poses potential hurdles.
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