Leading digital health platform completes $60.1M Series B funding round

Numan announces $20M debt funding to accelerate growth and cement its position as the leading consumer health brand for men in Europe

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Numan, Europe’s leading digital platform for men’s health, has today announced the final funding injection of its recent Series B round.

$20M has been raised from growth debt specialists Kreos Capital, taking the total capital generated to help fuel Numan’s expansion to $60.1M.

Numan is a household name in men's digital health, revolutionising the way men receive healthcare by providing direct online access to medical professionals, prescription medication, at-home blood testing, and holistic health advice.

The Startups 100 finalist was founded in 2019 by Sokratis Papfloratos, with the mission of helping men be the healthiest version of themselves.

Sokratis says the Series B investment will not only be used to accelerate Numan’s growth, but also to launch new therapeutic areas in men’s health and to expand internationally.

It also places the company in a leading position in the rapidly growing digital health market, which is expected to be worth $657B by 2026.


The rise of the digital health platform

Numan has grown its revenue by 190% since its Series A funding round back in October 2020, and is just one of several digital healthcare businesses capitalising on the growing demand for digital-first services.

Ranjan Singh’s HealthHero is another success story in the digital healthcare sector – it’s become one of Europe’s largest telemedicine providers in less than three years.

Unlike Numan, which focuses primarily on issues surrounding men’s health, HealthHero offers a suite of virtual healthcare services to anyone 24/7 via phone, video call and an online chat service with over 4,000 clinicians.

Describing his business's ethos, Singh said “We are really looking to provide a holistic digital experience covering the entire care spectrum, from prediction, prevention and diagnosis to treatment and management.”

It’s clear from the ongoing success of businesses like Numan and HealthHero that the market opportunity in the digital health sector is huge.

Innovative startups are cropping up in this space every day – do you fancy being one of them? Then check out our guide to starting a successful business in Healthtech.

Ross has been writing for Startups since 2021, specialising in telephone systems, digital marketing, payroll, and sustainable business. He also runs the successful entrepreneur section of the website.

Having graduated with a Masters in Journalism, Ross went on to write for Conde Nast Traveller and the NME, before moving in to the world of business journalism.

Ross has been involved in startups from a young age, and has a keen eye for exciting, innovative new businesses. Follow him on his Twitter - @startupsross for helpful business tips.

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