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.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
04/06/2026
Sony Electronics is introducing the SRG-AS10, a 4K 60p-compatible PTZ auto-frami...
04/06/2026
This recent grad from Spring, TX, led creative-video output for the Aggies' men's basketball team last season and has been producing video and creating ...
04/06/2026
For the first time at a women's golf major, every player in the field will r...
04/06/2026
Three Panasonic PT-RQ45 40,000-lumen 3-Chip DLP projectors made their first live...
04/06/2026
Bitmovin and Akamai have announced a collaboration with NRJ Group, a French mult...
04/06/2026
Telestream will exhibit at InfoComm 2026 (Booth N7952), demonstrating media work...
04/06/2026
Sony has announced the development of RIALTO 65, a 65mm format image sensor block for the VENICE 2 digital cinema camera, targeting release in the first half of...
04/06/2026
KOKUSAI DENKI Electric America will exhibit at InfoComm 2026 (Booth N8025, June ...
04/06/2026
Bell Media's TSN and RDS are the exclusive Canadian broadcasters of FIFA Wor...
04/06/2026
The Challenge: Receiving Heavy Media Files From Road Games Quickly and ReliablyT...
04/06/2026
MASV, a managed file transfer platform used in broadcast and live sports product...
04/06/2026
NESN has announced the appointment of Fahad Haider as Vice President of Operations and Engineering. Haider returns to NESN, where he previously served as Vice P...
04/06/2026
David J. Halberstam, who spent almost 50 years in sports as a broadcaster and an executive, died June 2 after a years-long battle with brain cancer.
Over his l...
04/06/2026
Although collegiate production programs are tasked with delivering high-quality ...
04/06/2026
California studio, two production trucks, global distribution system are combine...
04/06/2026
New global program empowers and supports storytellers through scriptwriting course and access to industry experts
TikTok and Sundance Institute today announce...
04/06/2026
Steinberg DAWs now boast in-depth Tonalic integration
Celemony's innovative virtual session musician plug-in has just received an update that brings ARA...
04/06/2026
Get Hands-On With Over 20 Mic Brands
GearExpo UK is fast approaching, and if you've been looking for a chance to check out some new mics, then you'r...
04/06/2026
Combos feature new Amplifier Intelligence engine
Positive Grid's latest release sees the company introduce two new combo amplifiers that promise to offe...
04/06/2026
Is Your Job Making You Work this June?
4 June, 2026
Media releases
SBS Launches the World Cup Watchers' Rights Association to Stand Up For Australians&...
04/06/2026
Statement regarding unauthorised use of SBS logos on third party social content
4 June, 2026
Media releases
SBS has become aware of social media posts in c...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Bitmovin, a leading provider of video streaming infrastructure, and Akamai, the cybersecurity and cloud computing company that powers and protects business onli...
04/06/2026
American Underground (AU), the Startup Hub of the South and a community of mor...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
NVIDIA and Microsoft Reinvent Windows PCs for the Age of Personal AI
Brie Clayton June 3, 2026
0 Comments
RTX Spark - a 1-Petaflop Superchip, the Full...
04/06/2026
Inside the Peaky Blinders: The Immortal Man Grade
Brie Clayton June 3, 2026
0 Comments
Simone Grattarola discusses shaping the look in DaVinci Resolve...
04/06/2026
Cine Gear Expo Announces 2026 Awards of Excellence Recipients
Brie Clayton June 3, 2026
0 Comments
Ed Lachman ASC, Caleb Deschanel ASC, and M. David M...
04/06/2026
St. Vincents Live with Orchestra Tour to Feature Berklee Alum Ruby Plume Berklee alumni St. Vincent and Ruby Plume will appear on the same bill across seven d...
04/06/2026
Back to All News
All the Truth in My Lies Coming to Netflix on August 28
Entertainment
04 June 2026
GlobalSpain
Link copied to clipboard
Download the imag...
04/06/2026
Back to All News
Larry Tanz, VP of Content, EMEA, Delivers a Keynote Speech at ...
04/06/2026
Back to All News
Turn Your Living Room into a Stadium With the New FIFA World ...
04/06/2026
Keeping conversations real on LinkedIn Published on Jun 4, 2026 Categories: Product News
LinkedIn Corporate Communications
Share
LinkedIn
Facebook ...
04/06/2026
BackStory follows four Irish young people as they travel back to their parents' homelands
Modern Irish identity is enriched by cultures and influences from...
04/06/2026
June's forecast with GeForce NOW: 100% chance of gaming.
GeForce NOW is lining up new adventures for the month, from big-name blockbusters to quirky indies...
03/06/2026
SES and Viva, Mexico's ultra low-cost airline, have launched multi-orbit satellite inflight connectivity on Viva's Airbus aircraft. A total of 60 A320s ...
03/06/2026
The College Football Playoff, ESPN, and TNT Sports have announced kick times and...
03/06/2026
RED Digital Cinema will exhibit at Cine Gear Expo 2026 (Booth 33, June 5-6, Universal Studios Lot), hosting three panels and hands-on product demonstrations.
P...
03/06/2026
Roku has announced the Soccer Zone, a dedicated hub for FIFA World Cup 2026 content available across the United States, Canada, Mexico, Brazil, Colombia, Argent...
By Jules Maltz and Alex Lim
