J&J Innovation Funds Keeps

Thirty Madison, the digital health company behind hair loss treatment brand Keeps, has announced a $47 million Series B round led by Polaris Partners. Johnson & Johnson Innovation – JJDC, Inc. (JJDC) also participated in the funding as a new investor. 

Founded in 2017 by Steven Gutentag and Demetri Karagas, Thirty Madison is the firm behind Keeps, which provides patients access to specialist-level care combined with the convenience of telemedicine and treatment delivery for hair loss. 

Keeps, which launched in January 2018, offers Finasteride, a prescription pill; Minoxidil topical solutions; and and 2% Ketoconazole shampoo. According to Thirty Madison, halfway through 2020, Keeps has surpassed its 2019 revenue and has helped hundreds-of-thousands of customers manage hair loss while improving and expanding access to treatments.

Addittional Thirty Madison brands treat migraines (Cove) and acid reflux (Evens).

With this new round of investment, Thirty Madison plans to further innovate in the digital healthcare space, specifically making the overall experience more enjoyable for those with chronic conditions. 

“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,” said Steven Gutentag, co-founder and CEO of Thirty Madison.
 
Amy Schulman, managing partner at Polaris Partners, will also join Thirty Madison's board of directors. 

“Over 59% of Americans suffer from at least one chronic condition, but few resources exist to help them connect the dots of their care,” said Schulman. “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.”

Thirty Madison has raised a total of $70 million to date.