Hims & Hers Raises $1.1 billion SPAC
Hims & Hers raised $1,100M in SPAC financing led by Oaktree, with participation from Oaktree Capital. AI-powered telehealth for lifestyle medicine. The new capital is framed around Expand AI mental health, weight loss, and dermatology verticals.
What it does
AI-powered telehealth for lifestyle medicine. The business sits in Healthcare & Life Sciences, where funded companies are using fresh capital to deepen product coverage, distribution, or operating capacity.
Traction
400,000+ subscribers; AI connects patients with providers in hours. Management framed the new capital around Expand AI mental health, weight loss, and dermatology verticals.
Trend impact
DTC telehealth replacing in-person primary care for lifestyle conditions. The capital raise matters because it gives the company more room to compete for customers, talent, and mindshare while incumbents and adjacent startups respond with clearer product depth or distribution.
Funding history
- January 1, 2021 · SPAC · $1.1 billion · Oaktree
- March 1, 2022 · Growth Round · $75 million · Various
Products & services
- Healthcare & Life Sciences workflow monitoring tied to the funding announcement
- Customer-facing product described on the company website
- Operational tooling for healthcare & life sciences teams
- Data capture and reporting across core business processes
- Team expansion support funded by the latest round