hims & hers

hims & hers, the operating brand of Hims & Hers Health, Inc., is a consumer telehealth company that connects patients with licensed providers online and ships prescription and over the counter treatments directly to them. It launched in November 2017 with a men's health line (hims) and later added a women's line (hers). The company was co-founded by Andrew Dudum, who has served as chief executive since the company's inception, with Jack Abraham and Hilary Coles, and is headquartered in San Francisco. Dudum and Abraham came out of the startup studio Atomic Labs, which incubated the business.

The company raised a $7 million seed round with Forerunner Ventures (Kirsten Green) and Thrive Capital (Josh Kushner) among the backers. SEC filings from its merger show a run of preferred stock financings: Series B, B-1 and B-2 rounds closed between January and July 2018 for roughly $70 million in net proceeds, and Series C shares were sold between March and August 2019 at $3.47 per share for about $102.8 million in aggregate. Wikipedia reports the Series C at a $1 billion pre-money valuation. Series C buyers included Disruptive Technology Solutions, Institutional Venture Partners (IVP), Redpoint Ventures, Forerunner, Thrive and Define Ventures. A Series D round in March through July 2020 added $51.9 million net. Holders identified in the merger proxy include entities affiliated with Atomic Labs, Forerunner, IVP, NewView Capital, Redpoint and Thrive, with board seats held by Redpoint's Alex Bard (from December 2017) and IVP's Jules Maltz (from April 2019).

Hims went public on January 20, 2021 by merging with Oaktree Acquisition Corp., a special purpose acquisition company sponsored by Oaktree Capital Management, at an implied equity value of $1.6 billion. The deal produced about $280 million in proceeds, including a $75 million private placement with investors such as Franklin Templeton. Class A shares trade on the NYSE under the ticker HIMS. Revenue grew from $57.8 million in the first nine months of 2019 to $107.3 million in the same period of 2020, and Wikipedia reports 2025 revenue of $2.348 billion, net income of $128.4 million and 2,442 employees.

For venture investors, hims & hers is an example of a consumer health company that reached public markets roughly three years after launch through a SPAC rather than a traditional IPO. Seed backers Forerunner and Thrive entered at the earliest stage, while growth investors such as IVP and Redpoint came in through the 2018 and 2019 preferred rounds. The company's later scale, with revenue above $2 billion, shows how a direct to consumer telehealth model can compound after listing, although the SPAC route meant its early public valuation was set by negotiation with the sponsor rather than by an IPO book.