Total amount raised
$33 Million
Latest funding date
10/01/2021
Location
Modern Age has successfully raised funds through two rounds, with notable venture capital firms like Oak HC/FT and Juxtapose backing the company. The latest funding was secured in a Series A round, although specific details about the amount and date remain undisclosed.
Modern Age offers a range of services designed to slow down the aging process, including Aging Wellness Assessments, Hormone Therapy, and IV Drip Therapy. Keep reading to explore the intricacies of Modern Age's fundraising journey and the investors backing this innovative platform.
What Is Modern Age?
Modern Age is a health and wellness platform based in New York City, specializing in proactive aging management. The company offers a variety of treatments designed to slow down the aging process, including Aging Wellness Assessments, Hormone Therapy, and IV Drip Therapy.
Founded in New York, Modern Age operates with a team of 11-50 employees. The clinic emphasizes a holistic approach to health, aiming to optimize well-being at every age. Investors like Oak HC/FT and Juxtapose have backed the company through its Series A funding rounds.
How Much Funding Has Modern Age Raised?
- Seed Round
- Amount Raised: USD 6,000,000
- Date: July 2021
- Lead Investors: Juxtapose
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop initial service offerings.
- Series A
- Amount Raised: USD 27,000,000
- Date: October 2021
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support talent acquisition, customer engagement, and technological innovation initiatives.
Modern Age has raised a total of USD 33,000,000. The current valuation is Not publicly disclosed.
Key Investors
- Oak HC/FT
- Details: Oak HC/FT is a premier venture growth-equity fund founded in 2014. It manages $3.3 billion in assets and provides strategic counsel, board-level participation, and access to an extensive network of industry leaders.
- Investment Focus Areas: Healthcare Information & Services, Financial Services Technology
- Notable Investments: VillageMD, Brightline, Devoted Health
- GV
- Details: GV, formerly known as Google Ventures, is the venture capital arm of Alphabet Inc. It invests in various sectors including technology, life sciences, and healthcare.
- Investment Focus Areas: Technology, Life Sciences, Healthcare
- Notable Investments: Uber, Slack, Flatiron Health
- Juxtapose
- Details: Juxtapose is a venture capital firm that partners with entrepreneurs to build industry-transforming companies. It is known for its hands-on approach in developing and scaling businesses.
- Investment Focus Areas: Building and investing in transformative companies
- Notable Investments: Care/of, Tend
What's Next for Modern Age?
Modern Age stands at the cusp of significant growth, driven by opportunities in talent acquisition, customer engagement, and technological innovation. The opening of their flagship studio in New York City’s Flatiron district marks a pivotal step in expanding their market presence and enhancing service offerings.
With $27 million raised in Series A funding, the company is well-positioned for future fundraising rounds to support further expansion and development. The increasing focus on aging wellness and the integration of digital tools and telemedicine present substantial growth prospects.
However, challenges such as competition in the aging wellness market and the logistics of opening new physical locations could pose hurdles. Ensuring the successful implementation of technological innovations will be crucial for maintaining their competitive edge.
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