Johnson & Johnson Backs Thirty Madison

  • General
  • August 14, 2020
  • 27
  • 3 minutes read
Johnson & Johnson CEO Alex Gorsky.

Photo credit: Stuart Isett/Fortune, under Creative Commons license

Thirty Madison, a New York-based digital health startup, has raised $47 million in Series B funding from investors including Johnson & Johnson Innovation, the venture capital arm of the eponymous healthcare giant, Maveron, Northzone, and Polaris Partners, which led the round. The new funding boosts the total amount that Thirty Madison, which operates a portfolio of three direct-to-consumer health brands, has raised since its inception to $70 million.

Thirty Madison will put the new funding towards expanding its business. The company says it’s major brand, Keeps, has made revenues in the first half of this year that equates to its entire revenue last year. The coronavirus pandemic has largely driven up demand for telehealth services and the company seems to be of benefit from that. Thirty Madison launched its first brand, Keeps, a hair loss treatment brand, in 2018, followed by the launch of two others, Cove, focused on migraine treatment; and Evens, focused on acid reflux treatment.

Under the terms of the new funding, Amy Schulman, a managing partner at Polaris Partners who notably previously held the role of President at Pfizer Consumer Healthcare, is taking a board seat at Thirty Madison.

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