Numan, the online health clinic for men, has completed a £10M Series A funding round, to continue building its digital health platform in collaboration with its patients.
Launched in February 2019, Numan helps men take action when it comes to their health and wellbeing, with quick and convenient access to clinical advice online. Recent findings show that 3 out of 4 men don’t go to the doctor when something is wrong. Men are also more likely to get cancer, heart disease and become overweight, and are more prone to smoking, drinking, and abusing drugs. The company provides regulated treatment options for the most common male health concerns, with a team of clinicians who can create personalised treatment plans online.
Sokratis Papafloratos, CEO and Founder, Numan, 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 with people less inclined to visit clinical setting to be seen by a medical professional in person we look forward to becoming a holistic health partner for them, backed by a world-class team of investors.”
As part of the funding, Birgir Már Ragnarsson from Novator Partners joins Numan’s Board of Directors. Ragnarsson said: “We were impressed with Numan’s capital-efficient execution so far and are excited about the future direction of the company. Health is one of the largest economic transformation opportunities still addressable at a global scale, and we’re delighted to be part of Numan’s journey.”
Numan intends to use the funds to develop new ways of providing men with access to clinical advice and treatment. The company plans to achieve this by investing in more technology, and by expanding its clinical team and operations, with Sam Shah, ex CEO of NHSX, recently joining as Chief Medical Strategy Officer. As part of its growth plan, the company is also developing its own IP around digital health but is also in a number of partnership conversations that can extend and expand the therapeutic model on offer.
Sam Shah, Chief Medical Strategy Officer said: “I decided to join Numan because of the company’s strong and sincere commitment to developing citizen-centric health services. To tackle inequalities in healthcare, it is important to focus on the health needs of everyone and to design services based on individual needs. It’s why we’ve placed so much emphasis on improving accessibility for men and offering them the choice in how to deal with their conditions, as they’re less likely to seek medical help and, even when they do, they do not always report all of their symptoms or concerns.
“It’s great to work with a team that is committed to developing health technology that will help people improve their wellbeing, and this funding will enable us to continue investing in new disease areas and technology to make healthcare even more accessible via digital channels.”
