London-based males’s healthcare startup Handbook has raised $30 million in a Sequence A spherical to assist gasoline its development internationally, and the launch of latest merchandise. The enterprise based by George Pallis, Deliveroo and Transferwise’s former advertising director, supplies males with medical recommendation about hair loss, and sexual well being, and wellness guides.
Handbook at the moment operates in the UK and launched in Brazil final 12 months and had plans to broaden additional into Europe and Latin America, based on Pallis. “The cash will go totally on persevering with the imaginative and prescient of turning into the worldwide vacation spot for males’s well being, increasing to extra geographies, and to go deeper into fixing issues for males,” stated Pallis in an interview with Forbes.
“The lens we glance by way of is how can we deliver this to as many males as attainable, however we’ll outline that over the following 12 months—however the issues are in thoughts are the native regulation and the market alternative,” stated Pallis.
Handbook has grown by way of the pandemic with males turning into extra health-conscious however Pallis stated the enterprise had not skilled the spike in exercise seen by many e-commerce companies. “We now have grown 4X 12 months on 12 months however not due to Covid,” stated Pallis. “In fact we skilled the general pattern of digital transition that each one on-line companies have benefited from, but it surely has not been an enormous outlier like different verticals—however persons are extra delicate about their well being and we function in an area that tries to enhance that.”
The startup didn’t disclose its valuation and raised funds from present traders Cherry Ventures, Felix Capital and in addition tapped American personal fairness fund Sonoma Manufacturers, and sweetness and wellness investor Waldencast, and household workplace GISEV. The startup, which pitches itself as a wellness information greater than a prescription-slinging digital pharmacy, raised $6 million in seed funding in January 2019.
The telehealth market has exploded throughout the pandemic and Handbook is pitched in opposition to American rivals Hims & Hers, which listed through a SPAC in January, and Ro, which raised a $500 million round in March, in addition to London-based startup Numan in convincing males to swap a gathering with the household physician for a discrete, digital appointment to speak about hair loss, or sexual well being, or erectile dysfunction.