Healthcare platform Thirty Madison is raising $140 million in a Series C funding round that values the startup at more than $1 billion. The round was led by new investor HealthQuest Capital, along with participation from Mousse Partners and Bracket Capital.
Also participating in the round were existing investors Polaris Partners, Johnson & Johnson Innovation – JJDC, Inc., Northzone, Greycroft and others. Thirty Madison has raised a total of $210 million to date.
“We envision a future where the healthcare system puts the patient first — and that requires a complete reinvention of the experience so that it is high-quality, accessible, and even enjoyable,” Steven Gutentag, co-founder and CEO of Thirty Madison, said in a press release on Wednesday (June 2).
“We’re building a company where every individual with a chronic condition can turn to us for high-impact specialty care that significantly improves the way they live their life every single day,” he said.
Thirty Madison is planning to use the new funds to advance its specialist-level care model to reach millions of people living with chronic conditions. The expansion will upgrade the capabilities of its platform and introduce new brands targeting exceptional health outcomes and enhanced patient experiences.
The investment also will give Thirty Madison the ability to develop partnerships that will enable the company to reach patients at their employers and healthcare payer networks.
Randy Scott, partner at HealthQuest Capital, said the company works to invest in “transformative” startups that are “improving patient outcomes” in meaningful ways.
Scott pointed to Thirty Madison’s “incredible track record” of providing advanced “specialist-level patient experiences” while being a disruptor in healthcare delivery.
In an interview with PYMNTS CEO Karen Webster, Thirty Madison’s Gutentag said that patient care for people suffering from chronic conditions can be personalized and ongoing by digitally connecting them to experts and medicine. He added that Thirty Madison is continuing to target chronic conditions that affect large patient populations.