Hone Health, a telehealth clinic for preventive longevity care, announced Tuesday that it has raised $33 million in Series A funding, which it is using to acquire home health company ivee.
New York City-based Hone Health is a direct-to-consumer company that offers access to medications, lifestyle interventions, doctor consultations and community support starting at $129 a month. Consumers start with an analysis, including undergoing a 50-biomarker blood test and providing personal health history. They then have a video consultation with a physician to create a personalized plan for medications, supplements and lifestyle interventions. Some of its treatments include testosterone, vitamin B12 and naltrexone for weight loss. After that, they have quarterly biomarker tests and physician check-ins.
The Series A round included participation from Tribe Capital, PIF, Republic Capital, Vibe VC, Humbition, Hanwha, Gaingels, Looking Glass Capital, FJ Labs and Agent Capital. In total, Hone Health has raised $39 million.
“Hone Health has quickly emerged as a leader in men’s health, prioritizing patient safety and delivering a unique, comprehensive solution that addresses critical market needs,” said Ted Maidenberg, partner from Tribe Ventures, in a statement. “We are excited to support their next phase of growth as they continue to expand their footprint into longevity and holistic healthcare.”
With the financing, Hone Health acquired ivee to introduce home health services to its customers. Ivee’s services include IV therapy and phlebotomy.
“This expansion enhances patient access to high-quality, personalized treatment while underscoring Hone Health’s commitment to safety and innovation in healthcare,” said Saad Alam, CEO and co-founder of the company, in an email.
The idea for Hone Health was born out of Alam’s own experiences in the healthcare system.
“When I turned 35, I started to experience symptoms of weight gain, loss of mental acuity and stamina, and a little bit of depression,” Alam said. “I kicked around the healthcare system for about a year, and no one could give me a really thorough answer. And then I met a group of hormone optimization regenerative physicians, and they told me that I was suffering from low testosterone. When I started to look at how large the problem was, it really took me back because there were hormonal imbalances not only in men, but also women.”
Hone Health isn’t the only company focused on preventive health. Others include Malla and Parsley Health.
When asked about the company’s goals ahead, Alam said it’s to scale the men’s and women’s businesses “dramatically.” Hone Health also hopes to conduct clinical trials on how well the business works. In addition, it aims to get to $100 million in recurring revenue in a “sustainable manner.”
Picture: Feodora Chiosea, Getty Images
