Backed by L Catterton, the supplement startup will use the new funding to accelerate product innovation, grow its team and expand into retail, capitalizing on a growing number of middle-aged men looking to prioritize their health
If the latest funding news for men’s health brand Mars Men is any indication, it seems male consumers are among those demanding more targeted, personalized supplement solutions.
The startup just raised $27.5 million in Series A funding, led by L Catterton, a private equity firm whose portfolio includes fitness and wellness brands like Solidcore, Playlist and Hydrow.
Mars Men operates on a direct-to-consumer and subscription model, with a particular focus on testosterone-boosting through supplements derived from both ancient herbs like tongkat ali and horny goat weed and more conventional ingredients like zinc and boron.
The company says it’s on track to reach $100 million in annual revenue without losing money in under 18 months since launching, having served over 400,000 customers in that period.
“This milestone shows what’s possible when you build something that resonates with customers at scale,” said co-founder and CEO Benjamin Smith.
“Testosterone levels have dropped 1% per year since 1980,” Smith added. “We started Mars Men to help solve this very real problem of men suffering from low energy, low drive and not feeling like themselves. We are blown away by the demand. Partnering with L Catterton empowers us to go even bigger and expand our product line, reach more men and continue building a brand that helps guys take back control of their health.”
The company plans to put the funding towards accelerating product innovation and development, expanding its offerings that tackle a variety of men’s health and performance needs. On top of that, Mars Men will grow its team, build more strategic partnerships and widen its distribution — including a planned expansion into retail.
“Men are increasingly taking a more proactive approach to their health and seeking out natural alternatives, and Mars Men has built a brand that directly addresses a growing need in the market,” said Chris Roberts, a partner in L Catterton’s Growth Fund. “The company demonstrated impressive growth and capital efficiency, reflecting the strength of its product, the consumer need it is meeting and the team behind it.”
The Men’s Health Market Is Picking Up Steam
The supplement company joins a market that’s increasingly catering to individualized needs, all the while more men prioritize their health after historically lagging behind women in that regard.
Emerging from that trend are brands like Mars Men, in addition to fitness and wellness platform Midlife Male, which raised $1 million last year.
Gameday Men’s Health welcomes male customers to its NYC clinic to take advantage of testosterone therapy, erectile dysfunction (ED) treatment, medical weight‑loss, peptide therapy, vitamin injections and other services.
The movement to support men’s health has also reached a legislative level, after a bill was introduced earlier this year to create an Office of Men’s Health within the U.S. government, as American men account for nearly 80% of suicides and live nearly six years less than women on average.
In backing Mars Men, L Catterton is pushing deeper into the fitness and wellness industry, adding to its portfolio that already includes EGYM’s Wellpass and ClassPass.
