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 ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
20/01/2026
SVG Sit-Down: BitFire's Jim Akimchuk on the Future of Cloud, Remote, Softwar...
20/01/2026
From architecture to reality: What CBC's Milano Cortina 2026 workflows tell ...
20/01/2026
Milano Cortina 2026: Making the Winter Olympics and Paralympics workflow work fo...
20/01/2026
Countdown to Milano Cortina 2026: SVG Launches SportsTechLive Blog in Lead-up to...
20/01/2026
Grand finale: Rally Saudi Arabia pushes WRC to make the most of cameras and dron...
20/01/2026
State of Change: What's Happening in the Remote-Production Business?NEP Group, Game Creek Video, Dome Productions, Mobile TV Group, Program Productions exec...
20/01/2026
CFP National Championship 2026: A Look Back at SVG's Complete CoverageGo behind the scenes with ESPN, Game Creek Video, Van Wagner, and the champion Indiana...
20/01/2026
The Gotham, Film Independent, and Creators Coalition on AI Join Alliance
by Michelle Satter, Founding Senior Director, Sundance Institute's Artist Programs...
20/01/2026
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
20/01/2026
December, the first month of winter and the holiday season, has traditionally encouraged families to spend time together in front of the television. During this...
20/01/2026
During December, streaming's share of TV viewing in Mexico settled at 24.3%, an increase of 0.1 share points from the previous month.
Disclaimer: YUMI TV,...
20/01/2026
Christmas Day is Most-Streamed Day Ever with 55 Billion Viewing Minutes, led by...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Disguise and ASB GlassFloor today announced a strategic partnership that turns the arena floor into a fully customizable interactive digital surface. This will ...
20/01/2026
Last summer, ITV celebrated the tenth anniversary of its popular reality dating show, Love Island. To ramp up the excitement of series 12 (launched in the UK on...
20/01/2026
Berklee's Mark Ethier Named One of SPIN's Most Influential People in Mus...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Emergent, a provider of AI-powered media production solutions, today announced its presence at ISE 2026 in Barcelona, taking place February 3 6, where it will u...
20/01/2026
Back to All News
Netflix and Warner Bros. Discovery Amend Agreement to All-Cash Transaction
Business
20 January 2026
Global
Link copied to clipboard
All-C...
20/01/2026
Back to All News
Now You Can Play a Role in Our Live Events With Real-Time Voting
Elmar Nubbemeyer
VP, Member Product
Product
20 January 2026
Global
Link...
19/01/2026
CFP National Championship 2026: Indiana Football's Digital Crew Generate Hyp...
19/01/2026
CFP National Championship 2026: Van Wagner Relies on Experience for Indiana-Miam...
19/01/2026
CFP National Championship 2026: Game Creek Video Fields Premiere IP Compound for...
19/01/2026
CFP National Championship 2026: For a Slew of Studio Shows, ESPN Turns Hard Rock...
19/01/2026
CFP National Championship 2026: ESPN's Sweeping Live Game Production Leverag...
19/01/2026
The new L3Harris NOVA binocular system is the every-soldier goggle' - and the beginning of a new era for night-vison capability....
19/01/2026
The Majority of Those Surveyed Prefer to Buy Brands Who Advertise in Content Tha...
19/01/2026
Back to All News
Straight to Hell' Sets April 27 Premiere: Teaser Trailer,...
19/01/2026
New Workflow Enhancements for All Broadcast Pix Systems, Plus 4-Channel ISO Recording for Hybrid and Roadie Tyngsboro, Mass. - January 2025 - Broadcast Pix ann...
19/01/2026
Monday 19 January 2026
Sky News reinvents News at Ten for the modern audience with The Wrap
Sky News today announces The Wrap, a bold evolution of its 10pm ou...
19/01/2026
Back to All News
Netflix Announces the Series Nights & Days, Directed by Kamila...
19/01/2026
DPA Microphones is striking a new chord in piano miking with the debut of its DPK2015 Piano Stereo Kit, an out-of-the-box, plug-and-play miking solution that ta...
19/01/2026
DPA Microphones will present its 4099 CORE Instrument Microphone and redesigned...
19/01/2026
Trianel relies on Arvato Systems for future-proof data center operations
Moving to the cloud: Arvato Systems implements extensive IT migration project
Migrat...
19/01/2026
Celebrating 21 Years of the RT Choice Music Prize
RT Choice Music Prize
In association with IMRO and IRMA
Irish Album of the Year 2025 - Shortlist Announce...
18/01/2026
January 18 2026, 21:30 (PST) Dolby Cinema Arrives in Bengaluru: Dolby Laborator...
17/01/2026
Lightware, an industry leader in signal management, is helping to elevate the Google Meet experience with the introduction of an integration with Taurus UCX. Th...
17/01/2026
Clear-Com announced a strategic partnership with NETGEAR AV to offer four high-performance networking switches as original equipment manufacturer (OEM) solutio...
17/01/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, today announced a new U.S. distribution partnership wit...
17/01/2026
NUGEN Audio announces the latest evolution of MasterCheck, its industry-trusted optimization plug-in for cross-platform mastering and loudness verification. Des...
17/01/2026
BHV has announced that it will highlight its new SportsBox remote vision mixer and picture processor at ISE in Booth #4H900 marking its official introduction in...
17/01/2026
Clear-Com will return to ISE 2026 to demonstrate its latest intercom solutions for broadcast, live production, and AV professionals. Exhibiting at Stand #4P700...
17/01/2026
Grass Valley, a leading provider in live production solutions, will exhibit at ISE 2026 in Barcelona from February 3 6, presenting its vision for how modern Bro...
17/01/2026
Utelogy Corporation, the global leader in connected workplace management, monitoring, control, automation and analytics closes out a record-breaking 2025. The c...
By Jules Maltz and Alex Lim
