The London-based digital health provider will use the funds raised to expand into female health and to enhance screening and preventative care programmes.
Digital health provider Numan has closed the extension of its Series B funding at $60 million (£44.6 million). The fundraise also includes access to $27 million in growth capital from HSBC Innovation Banking.
The round was led by Big Pi Ventures, via its new Growth Fund strategy. The round was also joined by Endeavor Catalyst as well as existing investors White Star Capital and Novator Partners.
Since 2018, the firm has raised $130.7 million in six rounds of funding, according to Crunchbase.
Funds raised will be used for Numan to expand into female health and to enhance screening and preventative care programmes. It will be used to scale the platform’s infrastructure, expand marketing efforts, and to advance Numan’s AI-driven capabilities.
The last year has been successful financially for the company. Revenues more than doubled at the end of last year to $90 million. The London-based company also says that it is on track to grow 150% this year.
To date, the company has treated more than 650,000 patients across obesity management, men’s health, and diagnostics, while maintaining a net promoter score, a metric used in customer experience programmes, of 68. This puts it well above average for most healthcare companies and within the top quartile in the broader healthcare benchmark.
“We are now perfectly positioned to expand our reach, deepen our clinical capabilities, and accelerate innovation to help our patients live happier, healthier, longer lives,” said chief executive Sokratis Papafloratos.
“Numan has demonstrated exceptional growth and a clear vision to tackle some of healthcare’s most pressing challenges, from obesity to hormonal health,” said Nick Kalliagkopoulos, partner at Big Pi Ventures.
