Aussie men’s health startup Mosh has entered the New Year with $25 million in new funding to continue its mission of normalising men’s access to anything from sexual health support to hair-loss treatment.
The funding includes investment from Joe Spector, co-founder of huge US men’s health platform Hims, as well as from Aussie investment company Washington H Soul Patterson and Regal Funds Management.
Existing backers including Parc Capital and Thorney also contributed.
The investment from Spector follows a $1 million cash injection from Tinder co-founders Sean Rad and Justin Mateen in August 2019. Spector has also come on board as an advisor to the startup.
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Founded back in 2018, Mosh is designed to break down taboos in men’s health, by connecting men with practitioners to offer support for a range of health concerns, from hair loss and sexual health, to skincare, mental health and sleep issues.
The funding follows a $10 million Series A closed in July last year. At that time, the business had served some 30,000 customers, and seen growth in some of its health categories of up to 2000%.
Since then, the team has doubled, with the founders onboarding software engineers, product managers and designers, as well as a team of medical experts.
It has now supported more than 50,000 customers to date and revenues have tripled over the past year.
In a statement, Mosh co-founder Gabriel Baker said the aim is to help men stay on top of their health, especially in times of crisis.
This is particularly pertinent when it comes to mental health, he said.
“There is an enormous opportunity to help Australians navigate what is a notoriously complex mental health system.”
Spector noted the startup is also tapping into a trend focused on making men’s health more accessible and less taboo.
Mosh is not the only Aussie startup playing in this space. Eucalyptus, which operates five digitally-enabled healthcare brands including men’s telehealth offering Pilot, raised $30 million in July last year, including from Silicon Valley VC NewView Capital. Blackbird Ventures and Woolworthws’ W23.
“Men are beginning to wake up to the fact that there are easy tools to live better lives,” Spector said in a statement.
“In my personal experience, I was completely lost with how to deal with my own healthcare issues,” he added.
“Services like Mosh, that normalise conditions and provide easy access, will continue to grow as the consumer is educated on their options for access to care.”