London-based Numan will expand its team and develop new technologies to deliver online health services for men.
Numan, a start-up dedicated to men’s health, has raised £10m in Series A funding. The investment will help the company grow its clinical team and develop its technology, with the goal of providing new ways for men to engage with clinical advice and treatment.
The funding round was led by private equity investment firm Novator Partners. Anthemis Exponential, Colle Capital and Vostok New Ventures also participated.
Numan launched in London in February 2019 as a way to provide men with clinical advice online. The company’s CEO and founder, Sokratis Papafloratos, said that its priorities include helping men understand their health better through “a series of diagnostics and clinician consultations” on a range of topics – from sexual health to hair loss – and developing personalised treatment plans for users.
“The Covid crisis is motivating men to take better care of themselves, and with people less inclined to visit [a] 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,” Papafloratos said.
Former director of digital development at NHSX, Sam Shah, has also been named as Numan’s chief medical strategy officer. Shah 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.”