A new startup is launching at-home healthcare services for men to rival Ro and Hims.
Vault, based in New York City, provides medically supervised, in-home medical services for conditions like hormonal imbalance and erectile dysfunction.
The company landed $30 million in series A funding led by Tiger Global Management with additional funding from venture studio Redesign Health and Declaration Capital.
Like Ro, which operates a digital health clinic for men called Roman, and Hims, part of Hims & Hers, Vault aims to reduce barriers for men to get healthcare services for conditions they might consider embarrassing.
The company says it differs from any service currently on the market by offering at-home medical care and not just prescription delivery. Vault has two flagship clinics in Manhattan and currently offers in-home services in NYC, Nashville, Dallas and several cities in Florida.
The company plans to expand in-home services to 42 more cities soon.
Vault CEO and founder Jason Feldman said the company will use the capital to expand its network of field practitioners and invest in awareness.
Before founding Vault, Feldman headed Amazon's Prime Video Direct and global innovation teams.
"Vault is on a mission to make it easy and affordable for men to get the specialized care they need to feel better, look better and perform better," he said.
Millions of men who are suffering from symptoms such as low libido, weight gain, fatigue, and reduced cognitive performance look for fast, accessible and discreet solutions, the company said.
These solutions, which are often found through general supplement retailers or unlicensed online vendors, can be ineffective at best and can cause harmful, even fatal, side effects at worst. Most importantly, these products fail to address the root of the problem, Vault executives said.
"We eliminate the friction of the doctor’s office, waiting room and indignities of having to explain symptoms to a doctor who is not specifically trained as a men’s health expert," Feldman told FierceHealthcare.
The company enables patients to book at-home appointments and get a medical exam and blood testing performed by a nurse practitioner. Patients then review the results of their blood tests and medical history with a Vault doctor during a virtual visit and treatments are sent to the patient's home.
The company can provide patients with testosterone injections, topical gels, creams, and oral medication. It also provides treatments aimed at improved fitness such as building muscle mass, improving sexual performance and increasing mental performance through better clarity and focus.
Vault says it regularly monitors how patients respond to treatment and provides continuous care via in-person and virtual follow-up consultation.
It's one of a handful of healthcare companies pushing toward a tech-enabled care model. For example, San Francisco-based startup Forward operates a direct primary care business model, and One Medical provides a membership-based, tech-integrated and consumer-focused primary care platform.
Vault is among a crop of startups with a specialized healthcare focus. Advantia Health and Maven, for example, target women's health.
Amazon also has gotten into online drug delivery with its acquisition of PillPack in 2018. The full-service pharmacy offers presorted packaging and home delivery. PillPack holds mail-order pharmacy licenses in all 50 states. And the tech giant may be looking to expand its prescription drug delivery business outside the U.S.
Like many new concierge medical services that have launched in the last few years, Vault has a membership plan with monthly at-home treatments starting at $199.
"Testosterone replacement is an essential part of preventative health for men, yet many clinicians do not connect low testosterone levels to various medical conditions that can significantly impact men's sexual function, exercise capacity, and overall health," Martin Miner, clinical professor of family medicine and urology at Brown University, said in a company press release.
"Men’s healthcare has needed innovation for some time, and Vault’s emphasis on providing easy access and expert care is a gamechanger for how men receive, manage, and talk about their health," Miner said.