EXCLUSIVE: Hone Health Secures $33 Million Series A to Evolve Into a ‘Longevity Adviser’ Platform
Hone Health has secured a $33 million series A investment. In addition, the telehealth clinic has tested 300,000 patients and treated 55,000 to date.
This round included participation from Tribe Capital, PIF, Republic Capital, Vibe VC, Humbition, Hanwha, Gaingels, Looking Glass Capital, FJ Labs and Agent Capital, bringing the brand’s total funding to $39 million.
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Hone Health was founded by Saad Alam, also the brand’s CEO, in 2020, offering testosterone treatments. With this model, it became the largest men’s hormone clinic in the United States within two-and-a-half years, per the company. Since then, the online clinic has expanded to offer broad test-to-treatment services for men and women.
“We haven’t had to raise a tremendous amount of capital because the need has been so visceral and the business unit economics have been in a place where we’ve been able to scale pretty large,” said Alam.
However, as the lines of wellness and health care continue to blur, Alam has his sites set on expansion.
“We’re seeing primary care, longevity [and] wellness converge. It is converging at such a fast rate that the lines are blurred. This new kind of health care is forming,” he said. “It’s like concierge care, but affordable by everyday people… We were like, ‘We should do this, but we should go faster. We should expand. We should invest into expansion.’”
With this, Hone Health offers users an initial $60 service that looks at 45 different biomarkers via a blood test and includes a 45-minute consultation with a licensed physician. From there, customers will be prescribed medications if necessary and can stay on for between $129 and $149 a month — medications can either be shipped via Hone Health or sent to the user’s local pharmacy. Bloodwork is repeated every 90 days to ensure treatments are efficacious.
“By seeing them every 90 days and seeing how their body metabolizes the medications and how their body’s changing, we can really get fine-tuned with the treatment,” Alam said.
It’s this level of fine tuning that is the company’s overall goal.
“It’s how do we create this platform that almost becomes like your longevity adviser, so you come in. You tell us everything that’s happening with your body right now [and your family history]” said Alam. “Then we say, ‘Look, who do you want to be?’…. Based upon that, we come up with these personalized protocols with the physicians, and then we have a bunch of technology that can help the physicians get better at making recommendations for the patient.”
To further grow its offering, Hone Health also acquired Ivee, which offers in-home health services, most notably IV drips. This will be a vehicle for Hone Health to expand its concierge medical services.
“We wanted to acquire them to build an at-home channel because they built this two-sided marketplace where they match physicians directly with patients and send them directly into their house,” Alam said.
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