Men’s Health Startup Company Manual Raises $30 Million to Expand the Business

By McKenzie Carpenter Tuesday, March 30, 2021

The beauty and lifestyle space is an extremely massive and competitive market for women. While men have always had grooming items like razors, shaving cream, and beard oil available to them, in recent years, there has been a particular shift in the men’s health industry that places a particular focus on skin and hair care, along with a man’s physical health.

It was revealed today that Manual, a men’s grooming and telehealth startup company, raised $30 million in funding to further expand the business.

Vintage shaving kit.

About Manual

Manual is a men’s telehealth ecommerce startup company that offers a variety of health and wellness services to men, including skin and hair care, daily health vitamins, sexual health resources, and lifestyle guides. According to the business, 90% of men don’t seek help unless they have a serious problem. The startup company has a special mission to empower men to be comfortable in their own skin when it comes to areas that they may be insecure about.

Founded in 2018 by George Pallis and Michalis Gkontas, the London-based startup company even runs a pharmacy with licensed professionals in the United Kingdom (UK) to provide prescription medication if necessary and allows men to order products through its ecommerce site so they can be delivered to their home. Manual even offers a subscription model for items if men are interested.

Furthermore, the ecommerce startup company can perform blood tests to provide personalized guidance to customers. Some tests on the roster are meant to analyze and treat heart and gut health, testosterone levels, sleep, energy, and immunity.

$30 Million in New Funding

TechCrunch reported today that Manual raised $30 million in a Series A funding round, with US-based Sonoma Brands and Waldencast leading the round. Previous European investors Felix Capital and Cherry Ventures also participated, with FJ Labs and GISEV Family Office.

The funding for Manual comes at the right time as CEO and co-founder George Pallis of the ecommerce business told Forbes that the startup company has quadrupled its revenue in the last 12 months and expanded to Brazil.

With the new funding, the ecommerce telehealth business plans to expand further into Europe and Latin America, as well as continuing product development.

In an interview with Forbes, Pallis added, “The money will go primarily on continuing the vision of becoming the global destination for men’s health, expanding to more geographies, and to go deeper into solving problems for men.”

About the Industry

The ecommerce startup is just one shareholder of an increasingly large market for men’s health and telehealth. According to Fortune Business Insights, the telehealth market is expected to reach $559.52 billion by 2027. In addition, Grand View Research reports the men’s personal care market size was valued at $47.5 billion in 2019 and expected to grow at a CAGR of 6% until 2027.

Manual is competing against other men’s health, wellbeing brands, and telehealth businesses such as US-based Hims & Hers — which went public through a SPAC deal in January, American telehealth business Ro, and London-based Numan.

About the Author

Headshot of McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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