
By Jules Maltz and Alex Lim
Today, we are thrilled to congratulate Andrew Dudum, Jack Abraham, Hilary Coles, Joe Spector, and the entire team at Hims & Hers on a successful public listing. Hims & Hers is a multi-speciality telehealth platform that connects consumers to licensed healthcare professionals and has built up a healthy online business with 100%+ compounded annual revenue growth over the last two years and a valuation over $3 billion. They are using technology to eliminate decades-old stigmas and improve the daily lives of women and men seeking access to quality healthcare and in the process have developed a vision to rethink patient engagement and modern medicine.
IVP first invested in Hims & Hers in January 2018, less than three months after its public launch, and then led a $50 million Series B in June of 2018. At the time, the company was among the first businesses applying the direct-to-consumer playbook to healthcare with incredible early growth and ambitious intentions of building a full-service service for a variety of chronic conditions.
When we first met Andrew, Jack, and Hilary at the Atomic offices three years ago, we were so impressed that we literally didn't want to leave the meeting. We paced around their building in the Presidio trying to figure out how we could invest in this amazing company and team, and called Andrew back later that day to express our interest. We're so thankful that we were able to partner with our friends and earlier-backers at Redpoint and Forerunner to join them on the journey to help and support such an innovative business.
While Hims & Hers has pioneered a new model within the larger healthcare market, we also love that it has challenged assumptions on how startups should grow. Here are three things that Hims & Hers did differently that have helped them get to where they are today.
Hire Early for Massive Scale
IVP is used to helping companies go public, but it's not often that it happens just over three years from launch (the average tech company takes twelve years!). As Andrew shared in a recent Business Insider article, Hims & Hers was intentional about building a public-ready company from the beginning. Andrew hired amazing, senior executives early on including Melissa Baird, Soleil Boughton, Spencer Lee, Patrick Carroll, and many others, who had experience scaling companies to hundreds of millions in revenues. Andrew, Jack, Hilary, and Joe also were committed to building a true healthcare platform for men and women, and launched new products faster than we've ever seen. This focus on hiring for scale and product expansion resulted in a financial profile that had not only high growth, but also strong margins and unit economics that set the company up for long-term success.
The Studio Advantage
Hims & Hers got their start within the walls of Atomic, a venture studio headquartered in the same San Francisco Presidio complex as Lucasfilm and Industry Light and Magic. Atomic founds and funds companies at the earliest stages who are on a mission to solve some of the world's biggest problems and provides them with shared back-office infrastructure to help them focus on the core drivers of growth. The studio model provided Hims & Hers with the advantage of being able to rapidly test and iterate its service, setting the company up for a phenomenal public launch. The company also learned important lessons about marketing, product, and sales from other Atomic startups that helped make the business even more successful.
A SPAC-tacular Debut
Hims & Hers went public through a reverse merger with a special-purpose acquisition company (SPAC), which was IVP's 116th portfolio company to list publicly. While historically, all of our portfolio companies executed traditional IPOs, in June 2019, we had our first portfolio company, Slack, complete a direct listing. Today, Hims & Hers is our first investment to go public through a SPAC. While we wouldn't recommend SPACs for everyone, as the process is more complicated than traditional IPOs, the Hims & Hers SPAC had three advantages over a traditional process: (1) it set a floor on valuation during a volatile macro environment; (2) it provided access to a wider range of institutional investors over a longer time period; and (3) it allowed the team to tell their story in a more proactive manner than traditional IPOs, which was important in a new disruptive space like telemedicine. It's good to have options when you're going public and SPACs are here to stay. We're so thankful for the tireless work by the Hims & Hers team to execute this difficult process and pioneer a new model for premium companies.
The Journey Continues
Hims & Hers is a company that thinks and acts differently. It's challenging stigmas around physical and mental health conditions, opening up access to safe, quality healthcare, and reimagining primary medicine in a rapidly-changing world. Today's public listing is only a milestone on a long journey far into the future, and Hims & Hers impact on healthcare is just beginning. Lastly, we're so proud of Andrew and his team for building such a special business while also staying humble and committed to the mission. Onward!
Jules Maltz and Alex Lim are Partners at IVP, a later-stage venture capital firm based in Menlo Park, CA.
North America Stories
25/03/2026
The company expands leadership team under Chief Revenue Officer Amilcar Perez
S...
25/03/2026
Winter Olympic Games Opening Ceremony features in top 10 programmes of the month...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
Providing wide view timing visibility across the entire production chain...
25/03/2026
Continuing development drives advances in security, availability, access and connectivity...
25/03/2026
Caudalie, the renowned French cosmetics brand, has unveiled a state-of-the-art 200-seat auditorium at its new headquarters in the historic Marais district of ce...
25/03/2026
Telestream, a global leader in media workflow technologies, today announced expanded integration with Adobe Premiere, Adobe Media Encoder (AME), and Frame.io, d...
25/03/2026
Marshall Electronics is expanding its lineup of high-performance POV cameras designed for broadcast, live production and professional AV applications with the d...
25/03/2026
OOONA, a global provider of professional management and production tools for the media localization industry, announced today that it has been awarded the TPN G...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
SipRadius, specialists in secure, low-latency media transport, will drive innovation and interoperability still further with the launch of the SipMX Alliance at...
25/03/2026
QuickLink, a leading provider of award-winning video production and remote contribution solutions, will showcase its award-winning StudioPro ecosystem at The 2...
25/03/2026
Alfalite, the only European manufacturer of LED screens, will once again be present at NAB Show, the leading global event for the broadcast, media and entertain...
25/03/2026
PC, a leading provider of integrated communication solutions, will make its NAB 2026 Show debut in Booth C 3341. The company will highlight the newly branded On...
25/03/2026
Open video transport network simplifies satellite transition with new partnerships and global reach as spectrum auction nears
LTN will demonstrate how its purp...
25/03/2026
Test & measurement innovator, Leader Electronics, will present the full range of Leader, PHABRIX and LeaderPhabrix T&M solutions at the NAB Show, which takes pl...
25/03/2026
MNC Software, a global leader in network management and operational support systems tailored to the broadcast and media industry, today announced the appointmen...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
25/03/2026
Starfish highlights flexible TS Splicer releases and new Monitoring Dashboard at...
25/03/2026
XLNTSOUND Elevates Video Production with Blackmagic Design
Brie Clayton March 24, 2026
0 Comments
Audio company upgrades workflow with Blackmagic Cine...
25/03/2026
First Time Exhibitor IPC Introduces One Link Keypanels for One Connect Intercom ...
25/03/2026
At the half-time whistle of the UEFA EURO 2020 round of 16 football match betwee...
24/03/2026
Utah Scientific to Showcase a Variety of Hybrid SDI/IP Innovations at the 2026 N...
24/03/2026
Mediaproxy will showcase an updated version of its LogPlayer interface at NAB Sh...
24/03/2026
C gep de Jonqui re, a public college in Qu bec, has upgraded its TV studio complex with five Calrec Brio consoles and a Dante IP network. The installation was c...
24/03/2026
The American Association of Professional Baseball (AAPB) has announced new and r...
24/03/2026
National Telecom Public Company Limited (NT) used Ateme's KYRION platform fo...
24/03/2026
Grass Valley has expanded its relationship with ImSoPROD, the TV production entity of FDJ United, with the deployment of LDX C98 compact cameras across its nati...
24/03/2026
The E.W. Scripps Company is launching Scripps Sports Network (SSN), a free, ad-s...
24/03/2026
NEP Group has launched NEP Platform, a new software orchestration system that un...
24/03/2026
Daktronics has partnered with the Arizona Diamondbacks to design, manufacture and install a new LED video display and three ribbon boards at Chase Field in Phoe...
24/03/2026
Grass Valley has completed an upgrade of University of Pittsburgh Athletics'...
24/03/2026
Daktronics is upgrading eight LED displays at Wrigley Field in Chicago, totaling more than 8,300 square feet, using the Daktronics Renew product line. The upgra...
24/03/2026
Advanced Systems Group has appointed Kevin Poole as Senior Project and Support Manager within the ASG Workflow and Tools practice. The position is newly created...
24/03/2026
In an increasingly streaming-centric world, protecting high-value live sports co...
24/03/2026
Mediaproxy will showcase an updated version of its LogPlayer interface at NAB Show, April 19-22 in Las Vegas, booth W1423. The update includes AI tools, native ...
24/03/2026
The production studio has worked with content juggernauts such as MrBeast, The R...
24/03/2026
The event will also feature a State of the Industry address from sports-media veteran and strategic advisor Patrick Crakes....
24/03/2026
Victory , a free sports streaming service owned by A Parent Media Co. (APMC), has launched its NWSL Sunday Night Soccer franchise. The platform says the launch ...
24/03/2026
Sports content in free streaming is still relatively scant, but it's growing, right along with its monetization capabilities
Streaming-tech company Wurl re...
24/03/2026
Directed by Greg DeHart, the doc will feature Sports Broadcasting Hall of Famers...
24/03/2026
For the first time ever, Tubi - Fox's free streaming service - is working w...
24/03/2026
L3Harris ramps up production of its VAMPIRE C-UxS system....
24/03/2026
For more than 70 years, L3Harris has delivered essential fuzes and safe-and-arm solutions that bring the might to multi-domain battlefields across the globe, ...
24/03/2026
Grass Valley has strengthened its long-standing relationship with ImSoPROD, the TV production entity of the FDJ United, with the deployment of Grass Valley LDX ...
24/03/2026
At the 2026 NAB Show in Las Vegas, Utah Scientific will spotlight its expanding portfolio of hybrid SDI/IP routing, conversion, control, and signal management s...
24/03/2026
Fresh off its global reveal at ISE 2026 in Barcelona, the new V410 live 4K encoder/decoder from Miri Technologies Inc. will make its North American debut at the...