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 ...
09/10/2026
September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026
New Sports Intelligence helps providers better unders...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
30/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/09/2026
Mavis has launched Mavis Camera 8.2, the latest release of its professional camera app for the iPhone and iPad. This update brings support for iPhone 18 Pro and...
29/09/2026
Oak View Group (OVG) has announced Cisco as an Official Technology Partner, with plans to standardize infrastructure across its venue network on Cisco solutions...
29/09/2026
SportsNet Pittsburgh (SNP) won three honors at the 2026 Mid-Atlantic Emmy Awards.
Program awards went to Bucs BP in the Sports Program Live category (produced ...
29/09/2026
The Professional Women's Hockey League has announced home openers for all 12 teams for the 2026-27 season, along with a broadcast partnership with CBC under...
29/09/2026
Manifold technologies has been recognized as a contributor to the Media eXchange...
29/09/2026
FuboTV has announced My Local Sports, allowing subscribers in select markets to add their local regional sports network (RSN) as an add-on to a Fubo Sports subs...
29/09/2026
Asian News International (ANI), a wire agency and video news provider based in India, has deployed Grass Valley's AMPP Media Operating System and Framelight...
29/09/2026
South African Broadcasting Corporation (SABC) has deployed Ikegami UHK-X600 cameras as part of an upgrade to IP-based production infrastructure. The deployment ...
29/09/2026
REMI, REMCO models will drive the bulk of the broadcaster's NHL productions ...
29/09/2026
Three years in, the facility is supporting more centralized race production, com...
29/09/2026
NBC, Peacock, and NBSN are carrying all four Wild Card series with a production ...
29/09/2026
19 Nonfiction Projects Across All Stages of Production to Receive More Than $1 million in Support as Documentary Film Program Approaches 25th Anniversary
LOS ...
29/09/2026
Two new plug-ins launch alongside updated bundles
Zynaptiq have just announced the launch of two new plug-ins, alongside new and improved versions of two of...
29/09/2026
All-in-one bus processor revealed
Wes Audio's ng product range has come a long way since it was first introduced, and now includes a tasty selection of ...
29/09/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Ikegami announces that the South African Broadcasting Corporation, SABC, has chosen Ikegami UHK-X600 camera systems as part of an advance to IP-based operation ...
29/09/2026
Blendkit Offers 20% Discount to Celebrate Crossing 150K Asset Milestone
Brie Clayton September 29, 2026
0 Comments
Blendkit, the largest 3D asset libr...
29/09/2026
Interactive streaming specialist Ease Live supported more than 76.5 million fan sessions across three major European media operators during this summers FIFA Wo...
29/09/2026
Ease Live has added support for VAST (Video Ad Serving Template) to its graphical overlay technology, opening up new ways for broadcasters, streamers and rights...
29/09/2026
Rise AV has announced the launch of the inaugural Rise AV Awards, a new global awards programme celebrating the women, advocates and organisations across the AV...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/09/2026
Clear-Com announced that First Baptist Nashville has upgraded its production communications with a Clear-Com intercom solution as part of a comprehensive sanct...
29/09/2026
Blackmagic Cinema Camera 6K Captured Action Shots for Sketch
Brie Clayton September 28, 2026
0 Comments
Camera's portable design and dynamic range...
29/09/2026
Kean Production Services Deploys AJA ColorBox to Deliver Consistent, Accurate Co...
29/09/2026
Berklee Alumni and Faculty Nominated for the 2026 Latin Grammy Awards A total of 28 Berklee alumni and faculty earned nominations across 20 categories this ye...
29/09/2026
Berklee's K-Pop & Beyond Explores Connections Between K-Pop and Hip-Hop Now in its fifth year, the series brings together artists, industry leaders, and s...
29/09/2026
We tend to think we live in a digital world, with hopes and fears around artificial intelligence (AI), quantum computing, data centres and the next big technolo...
29/09/2026
Today, in partnership with the American Academy of Pediatrics (AAP), Apple relea...
29/09/2026
Final Cut Camera, the professional filming app for iPhone, receives a major upda...
29/09/2026
RT lyric fm is proud to announce the annual Choirs for Christmas competition callout. Warm up those vocal chords and join us on RT lyric fm for a celebration ...
28/09/2026
The NHL has announced Adobe as an Official Creative, Marketing and AI Partner beginning with the 2026-27 season. The partnership will provide the league and its...
28/09/2026
MultiDyne will exhibit at CABSAT 2026 (October 5-7, Dubai Exhibition Centre), showcasing an expanded technology portfolio following its June 2026 acquisition of...
28/09/2026
ARRI and HONOR have announced the HONOR Magic9 Pro Max, a flagship smartphone carrying ARRI branding on the device and packaging as the first product-level expr...
By Jules Maltz and Alex Lim
