Funding Overview
Numan, a digital healthcare platform, has successfully secured $60 million (£44.8 million) in funding aimed at broadening its services to include female health.
Current Focus and Technology
Previously, Numan’s platform primarily addressed men’s health issues such as:
- Erectile dysfunction
- Hair loss
- Obesity
The platform utilizes proprietary technology that combines diagnostics, medication, expert care, and behavioral change.
Details of the Funding
This funding round is an extension of Numan’s Series B and includes:
- $27 million (£20 million) in growth capital from HSBC Innovation Banking UK
- $30 million equity investment led by Big Pi Ventures, with contributions from Endeavor Catalyst, White Star Capital, and Novator Partners
CEO’s Statement
Sokratis Papafloratos, CEO of Numan, stated:
“Our latest funding reflects our commercial success and our vision for personalized, preventative health at scale. With the support of our investors, we are well-positioned to expand our reach and enhance our clinical capabilities.”
Growth and Future Plans
Numan has experienced significant demand over the past 18 months, leading to:
- Increased patient engagement
- Life-changing health outcomes
The new capital will facilitate:
- Expansion into female health
- Enhanced screening and preventative care programs
- Growth in the UK and international markets
Investment in Technology
The funding will also be allocated to:
- Scaling the platform’s infrastructure
- Expanding marketing efforts
- Advancing AI capabilities
Market Impact
Numan has treated over 650,000 patients and reported $90 million (£66.6 million) in revenue for 2024, with projections of 150% growth in 2025.
Investor Insights
Nick Kalliagkopoulos from Big Pi Ventures commented:
“Numan’s focus on preventative care and patient engagement distinguishes it in the digital health sector. This funding will help solidify its leadership in the UK and support international growth.”
Conclusion
With this funding, Numan aims to enhance its services and continue its mission of providing comprehensive health solutions.