MANE & STEEL is a founder-built men's hair-loss company focused on evidence-driven treatment, physician-guided protocols, education, and a brand designed for a new generation of men who take their appearance seriously.
Dutasteride is the foundation. Hair is the category. The customer relationship is the asset.
The incumbents have already proven that men will buy healthcare online at enormous scale. Hims & Hers reported $753.2 million in Q2 2026 revenue and 2.891 million subscribers. Keeps, Ro, Happy Head and other platforms have helped establish hair loss as a durable direct-to-consumer healthcare category.
At the same time, serious biotechnology capital is moving into the next generation of hair-loss treatment. Pelage Pharmaceuticals raised $120 million in Series B financing to advance PP405, while Veradermics completed an upsized 2026 IPO that generated approximately $294.8 million in gross proceeds as it advances late-stage programs including an investigational oral treatment for pattern hair loss.
The incumbents proved the customer exists. The new money is betting the category gets bigger.
MANE & STEEL sits between those two trends. We do not need to invent the next molecule. We intend to build the specialist brand, distribution and customer relationship that can deliver the best treatments available today and evolve as the science evolves tomorrow.
Most of the online hair-loss category was built around finasteride. MANE & STEEL made a deliberate decision to build around dutasteride.
Finasteride inhibits primarily Type II 5-alpha-reductase. Dutasteride inhibits both Type I and Type II. Comparative clinical evidence generally favors dutasteride for hair-growth efficacy. Finasteride can still be effective. Our question was simple: why build the company around the weaker option simply because it came first?

MANE & STEEL uses commercially manufactured dutasteride softgel capsules and commercially manufactured oral minoxidil tablets. We deliberately keep them separate rather than building the treatment experience around proprietary compounded combination pills.
Keeping medications separate allows each medication to be managed independently. A patient can begin at a lower dutasteride dose and, when clinically appropriate and approved by the treating physician, progress through a titration protocol without automatically changing the minoxidil dose.


Competitors can add dutasteride to a menu. MANE & STEEL built the treatment philosophy around it.
"I didn't discover hair loss through a market-size report. I built this because I was the customer."
I started losing my own hair young. I spent years researching medications, trying treatments, undergoing multiple hair transplants and learning firsthand how confusing this industry can be. At the same time, I built my professional career as a Doctor of Physical Therapy, treating patients and learning what healthcare looks like from the provider side.

I wanted a company that took hair loss seriously, explained the science, and built around what the evidence supported rather than copying the same treatment menu everyone else had built. I couldn't find it. So I built it.
That founder perspective is now part of the acquisition engine. I create educational content around DHT, medication differences, dosing, expectations and the realities of treating male-pattern hair loss. The smarter the customer becomes, the stronger MANE & STEEL becomes.
Internal order data also indicates that approximately four out of five recent customers are entering treatment above the standard 0.5mg dutasteride dose, subject to physician review and approval.
We raised prices. Customers kept buying. Average customer spend increased.
The absolute numbers are still early. The direction is not. MANE & STEEL reached approximately break-even at the operating level in August while continuing to reinvest in acquisition.
Recurring revenue is no longer theoretical. It is beginning to appear in the actual business.
MANE & STEEL operates on a recurring 90-day treatment cycle. The economic objective is simple: acquire customers at a rational cost, maintain healthy contribution margins, and allow repeat treatment cycles to increase the value of the relationship over time.
Earlier management scenarios modeled approximately $1,644 in revenue LTV at 90% quarterly retention and approximately $3,242 at 95% quarterly retention. Those are scenario models, not observed cohort LTV, and they should be treated that way.
What is observed today is more important: customers are already returning. The job now is to bring CAC down, increase creative volume, continue improving retention, and make the first treatment cycle pay back acquisition as quickly as possible.
MANE & STEEL has spent approximately two years building the infrastructure required to operate a specialized telehealth business: physician relationships, patient intake, contraindication screening, prescription routing, contracted pharmacy fulfillment, subscriptions, refills, customer support and the technology required to keep the system working together.



The store is the easy part. The company underneath it took two years to build.
Today, the primary constraints are marketing capital, creative volume, acquisition efficiency and founder bandwidth. The business does not need a large executive team, an expensive headquarters or a vanity rebrand. It needs more high-performing creative, more distribution and more customers acquired at economics that justify the spend.
Capital is intended to accelerate customer acquisition, creative production, founder-led media, conversion infrastructure, strategic partnerships and selective operating leverage. Final investment structure and terms will be determined with company counsel.
The raise isn't funding the beginning. It's accelerating what has already been built.
MANE & STEEL was built narrow by choice. The underlying platform already contains medical weight-management capabilities, including semaglutide and tirzepatide treatment pathways, that can be activated when the company decides the brand and timing are right. Future expansion can also move into shampoo, conditioner, styling products, grooming, diagnostics and restoration.
But the strategy is not to launch everything. First, win hair. Then earn the right to do more.
For approximately two years, I have built MANE & STEEL while continuing to work professionally as a Doctor of Physical Therapy. I built the brand. Found the partners. Worked through the healthcare infrastructure. Created the content. Talked to customers. Solved the operational problems. And kept building.
And MANE & STEEL still hasn't been my only job. Imagine what happens when it is.