Proactive Health Company Thriva Secures £4m Funding From Pan-European Venture Capital Firm Target Global to Further Establish At-Home Health Service
The investment, which takes Thriva’s total funding to £11m, will support the company as it expands its at-home health service designed to help people stay on the front foot with their health and to continue putting better health in your hands.
The investment comes from Target Global’s new Early Stage Fund II and will top up the £6m Series A raised in 2019. Existing investors include Guinness Asset Management and Pembroke VCT.
Thriva have processed over 115,000 test at-home blood tests since 2016 which have helped people keep track of what’s happening inside their bodies with 76 percent of Thriva users achieving an improvement in at least one of their biomarkers between tests.
After spending three years building a DTC brand, Thriva has now launched personalised health plans and high quality supplements and the business is scaling up it’s partnerships with hospitals and other healthcare providers looking to provide at-home testing to their patients and clients.
The company is rapidly becoming the go-to brand in the ‘proactive health’ category, an increasingly mainstream movement in which people are taking control of their own health.
The company, which was founded by Hamish Grierson, Eliot Brooks and Tom Livesey, continues to grow 100% year-on-year and has expanded its team significantly to 50 team members in the company’s London Headquarters.
Thanks to Thriva, customers can understand, keep track of and improve what’s happening inside their bodies. Its at-home testing kits are processed by UKAS accredited laboratories and can analyse anything from indicators of heart disease and diabetes, to vitamins and minerals and hormone function.
Its customers are people who proactively seek out services that go beyond a ‘one-size fits all’ approach to health and are looking for the personalised, actionable insights that Thriva provides.
Hamish Grierson, co-founder and CEO of Thriva said: “As the world faces unprecedented challenges posed by the coronavirus crisis, we have all been forced to view our health, and our mortality, in a new light.
“We believe that now and in the near future, people will be taking a more proactive approach to their own health and wellbeing. Whilst we cannot protect ourselves entirely from the tragic effects of a global pandemic like COVID-19, this period may inspire people to invest in their general health for the long-term.”
Dr Ricardo Schäfer - Partner at Target Global said: “When we first met the team behind Thriva, we were immediately hooked by their mission to allow people to take health into their own hands. Thriva has all the right ingredients to become one of those transforming category leaders we are seeking to back at Target Global.
“We are witnessing a shift in consumer behavior towards an increasingly proactive approach to health: people want to know what’s going on inside their bodies. Covid-19 is further accelerating this trend, which requires remote blood testing. Thriva is playing an essential role in providing a solution for increasing the test volume. We are excited to partner with Hamish, Eliot, and Tom at this pivotal point in time for the company."