Hims is a direct-to-consumer wellness startup that sells sexual wellness products, skin care, and hair-loss treatments, and has incorporated a women's brand, Hers. The company offers erectile dysfunction medication, prescription birth-control pills and Addyi for hypoactive sexual desire disorder. Hims officially launched just over one year ago and has pursued rapid product expansion into women's health alongside its flagship men's offerings. It is consumer-facing and marketed heavily, which has driven fast brand recognition. Financially, the company had previously raised $197 million and entered this new financing round with significant cash on hand. Negotiations for the latest round reportedly took months, with some investors balking at valuation and the company passing on several viable term sheets. Hims is a San Francisco-based online men's health platform that discretely ships men’s health products and prescription medications. Customers complete a digital assessment that a network of doctors reviews to prescribe treatments; the platform also includes a telemedicine component. It partners with mail-order pharmacies to secure lower prices and offers products including a cold sore kit (valacyclovir), multiple hair-loss treatments, erectile dysfunction medications, and an anti-aging cream launching this month. The company positions its service as a cheaper, more accessible alternative to traditional doctor visits. Hims launched in November 2017. According to Crunchbase it has raised $57 million to date. The new capital will be used to grow its prescription drug business. Hims launched as a men’s wellness brand focused initially on hair loss, selling direct-to-consumer kits that bundle prescription medications and supplements. Its $40 kit includes finasteride (a generic of Propecia), minoxidil, a DHT shampoo, and supplements aimed at thicker hair, stronger nails, and smoother skin. Products arrive in elegant, sustainable packaging and the company leverages online/telemedicine-enabled distribution to simplify access to prescriptions. Hims positions hair care as the first vertical and plans to expand into sexual wellness, cholesterol wellness, and other long-term men’s health categories. The startup was incubated at the San Francisco–based studio Atomic, is led by CEO Andrew Dudum, and is a roughly 10-person company. Financially, Hims recently closed a $7 million Series A to support its growth and product expansion.

Total raised

$157M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2019