Digital men's health platform Numan announced it raised $60 million in funding.
The newest financing round is an extension of the company's Series B round, which includes a $30 million equity investment led by Big Pi Ventures.
Endeavor Catalyst, White Star Capital and Novator Partners participated in the round.
The funding round also includes $27 million in growth capital from HSBC.
WHAT IT DOES
Numan offers a digital subscription service addressing men’s health issues, including hair and weight loss, sexual health, supplements and diagnostics.
The company also offers an artificial intelligence-powered symptom checker, online access to medical professionals, prescription medications, a variety of at-home blood tests, health coaching and direct-to-consumer health products.
The funds will be used for expansion into the female health space, as well as more screening and preventive care programs.
"We started 2025 in a very strong position, one that allowed us to be genuinely choiceful about our next move," Sokratis Papafloratos, CEO of Numan, said in a statement.
"Over the past 18 months we’ve seen an explosion in demand, our patients have shown incredible engagement and achieved life-changing outcomes. This interest fuelled our growth and success in both reaching and maintaining profitability. That is why we believe now is the time to invest in scaling what works and innovating for the future of healthcare."
MARKET SNAPSHOT
In 2022, Numan raised $20 million (£14.7 million) in growth debt from Kreos Capital.
The financing completed $60.1 million (£44.3 million) in funding led by White Star Capital, with participation from Novator, VNV Global and Anthemis Exponential.
In 2021, Numan raised $38 million (€33 million), bringing the company's total funding at the time to $50 million (€44 million), following a Series A funding round in October 2020.
The round was led by White Star Capital, with existing investors Novator, Vostok New Global, Anthemis Exponential and Colle Capital, as well as new investor Hanwha Dream Fund.
That same year, Numan acquired Stockholm-based medtech firm Vi Health. Vi Health offers advanced e-consultation tools, collaborative chat and voice and video consultations, as well as workflow automation tools.
