Johnson & Johnson invested in telehealth startup Thirty Madison, a digital health company focused on managing chronic conditions.
1. Johnson & Johnson Innovation joined Thirty Madison’s Series B financing round which closed on $47 million Aug. 14. Thirty Madison has raised $70 million to date.
2. Polaris Partners led the funding round, and existing investors Maveron and Northzone also participated.
3. Thirty Madison’s portfolio brands include:
· Keeps, which focuses on treating hair loss
· Cove, which treats migraines
· Evens, which treats acid reflux
The companies provide virtual visits, therapeutic treatments and educational tools for patients.
4. Thirty Madison said it plans to further innovate in digital healthcare with the new investment round.
5. Johnson & Johnson acknowledged a broader trend toward individuals seeking on-demand, personalized care for chronic conditions with the investment, Fortune reported. Stacy Feld, the Johnson & Johnson investment head of west North America, Australia and New Zealand, said the investment “aligns to our overall strategy, which is to bring new healthcare products and solutions to the people who need them most.”
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