THIRTY MADISON

Steve Gutentag and Demetri Karagas launched Thirty Madison in 2018 with a simple insight: people hate navigating the healthcare system for conditions that are treatable but inconvenient to manage. Their first brand, Keeps, targeted male hair loss — a massive, embarrassing, and underserved problem.

The model worked. Keeps connected men with licensed physicians who could prescribe finasteride and minoxidil by subscription.

Then they applied the exact same playbook to migraines with Cove, to acid reflux with Evens, and continued expanding.

Multi-brand telehealth platform. Each brand operates as a distinct consumer identity — its own marketing, its own tone, its own condition focus.

Patients subscribe and get matched with licensed clinicians who evaluate, diagnose, and prescribe. Ongoing prescriptions are managed via the platform.

Revenue is a mix of subscription fees and pharmacy revenue. The shared infrastructure (technology, compliance, clinical operations) keeps unit economics favorable at scale.

["Keeps (hair loss treatment for men)", "Cove (migraine prevention and treatment)", "Evens (acid reflux and GI health)", "Nurx (reproductive and sexual health — acquired 2023)"]

Condition-by-condition expansion. Build a tight consumer brand for a specific treatable condition, prove the model, then repeat.

Acquisition is part of the strategy too — buying Nurx brought an established reproductive health brand rather than starting from scratch. Performance marketing and SEO are key acquisition channels, targeting people who are already Googling their condition and looking for help.

Brand fragmentation is the model's strength and weakness simultaneously. Running five distinct brands means five marketing budgets, five user experiences, and five clinical workflows.

Cross-sell between conditions is the obvious value unlock but it requires patients to connect Keeps and Cove and Evens as part of the same ecosystem — which is not obvious to a consumer.

Thirty Madison raised from Canaan Partners, Maverick Ventures, HealthQuest Capital, and others. The company reached a valuation in the hundreds of millions of dollars on the back of rapid brand growth.