Start-up men’s DTC brand Hims raised another $50 million to expand into more prescription-drug categories, bringing the total funding to $97 million. The round was led by Institutional Venture Partners and also included Forerunner Ventures, Redpoint Ventures, and Josh Kushner’s Thrive Capital.

WHO: Launched in late 2017 by 29-year-old entrepreneur Andrew Dudum, Hims is a men’s wellness direct-to-consumer brand dedicated to millennial men. The brand focuses on erectile dysfunction and hair loss, wrapped in a minimal Instagram aesthetic of muted pinks and greys.

DETAILS:

• Hims raised another $50 million to expand into more prescription-drug categories.
• This round valued the company at $500 million, according to Bloomberg.
• The $50 million brings Hims’ total funding to $97 million.
• The round was led by Institutional Venture Partners and also included Forerunner Ventures, Redpoint Ventures, and Thrive Capital.