Digital health clinic for men, Numan, has completed a £10 million Series A funding round, to expand on its men's health and wellbeing products and pharmaceuticals, personalised supplements and access to UK-based clinicians.
The round was led by Novator, along with Anthemis Exponential, Vostok New Ventures, and Colle Capital.
WHY IT MATTERS
Recent findings show that three out of four men do not go to the doctor when something is wrong. They are also more likely to get cancer, heart disease and become overweight, and are more prone to smoking, drinking and abusing drugs.
Numan provides regulated treatment options for common male health concerns, with a team of clinicians who can create personalised treatment plans online.
THE LARGER CONTEXT
Across the pond, competitors like virtual health company, Ro launched a new health information platform dubbed Health Guide, covering sexual health, hair loss, weight management, diabetes and men’s health with the aim to compete with the likes of WebMD and Google searches.
In March, Vault Health launched a consumer men’s health service with a $30 million Series A funding, providing consumers with male hormone replacement therapies and other supplements.
ON THE RECORD
Numan’s chief medical strategy officer, Sam Shah told MobiHealthNews: “Tackling inequalities in health require a focus on the health needs of both sexes. Services need to be designed to meet the specific needs of both groups, which is essential as part of any effort to tackle the epidemic of noncommunicable diseases, which are likely to affect more men than women and to affect men at a younger age. In some parts of the world, healthcare systems have significantly higher costs associated with morbidity in men, often due to the late presentation.
“Digital healthcare has opened up the opportunities to provide people with access to healthcare, clinical advice and treatment. Numan has focused on developing an online platform that continues to improve access to a range of conditions mainly affecting men. As a data driven healthcare organisation, Numan is constantly learning from the experience of its users to develop accessible clinical services.”
Numan’s founder and CEO, Sokratis Papafloratos, said: “We are building a new kind of healthcare company that gives men simple and accessible solutions for their health and wellbeing problems.
“We help men understand their health better through a series of diagnostics and clinician consultations, and offer medical solutions that cover anything from sexual health, to hair loss, smoking cessation and general wellbeing - all via a comprehensive digital health platform. The COVID crisis is motivating men to take better care of themselves and we look forward to becoming a holistic health partner for them, backed by a world-class team of investors.”
