World

Digital health company, Everlywell Lands $175M For Virtual Care Offerings

Everlywell, an Austin-based digital health company, secured $175 million in an oversubscribed Series D round to expand its consumer testing and virtual care offerings. With the new investment, CEO Julia Cheek confirmed the company’s valuation at $1.3 billion.

Everlywell
Everlywell

“This represented a mass majority of the funding we have received and the result of our company’s shift into hypergrowth,” Cheek told Crunchbase News. “This massive growth is an underlying shift that is more broad than just COVID-19. We see an opportunity to partner with telehealth providers and develop broader access to services that could turn into other offerings.”

Everlywell provides more than 30 at-home collection tests for everything from prevention and management, fertility, nutrition and STIs. Three-fourths of the company’s testing growth was 100 percent year over year. It also reached its 1 million-person milestone this year, quadrupled sales and grew from a workforce of 90 to 200, she added.

The company is one of approximately 158 U.S.-based companies described as working in the health care testing space that raised some $3.5 billion in venture-based funding in the past five years, according to a search of the Crunchbase database. Among that list, 43 received funding in 2020.

New investors participating in the round include funds and accounts managed by BlackRock, The Chernin Group, Foresite Capital, Greenspring Associates, Lux Capital, Morningside Ventures and Portfolia, as well as existing investors Goodwater Capital, Highland Capital Partners and Next Coast Ventures.

The new investment brings the total capital raised by the company to more than $250 million since it was founded in 2016, including a $25 million Series C round led by Highland Capital in February, Cheek said. We reported on Everlywell’s $50 million Series B in 2019, and more recently in May when the company was granted U.S. Food and Drug Administration emergency use authorization for its COVID-19 Test Home Collection Kit.

Folx is pulling apart what health care means to the LGBTQIA+ community, and developing an experience tailored for each person.

Co-living startup Starcity said Thursday that it’s acquiring another co-living company, Ollie.

FloatMe offers interest-free and credit-free “floats” of up to $50, account monitoring and savings tools for millennials.

Sourcegraph, a code search startup for developers, has secured a $50 million Series C, the company announced Thursday. 

“This represented a mass majority of the funding we have received and the result of our company’s shift into hypergrowth,” Cheek told Crunchbase News. “This massive growth is an underlying shift that is more broad than just COVID-19. We see an opportunity to partner with telehealth providers and develop broader access to services that could turn into other offerings.”

Everlywell provides more than 30 at-home collection tests for everything from prevention and management, fertility, nutrition and STIs. Three-fourths of the company’s testing growth was 100 percent year over year. It also reached its 1 million-person milestone this year, quadrupled sales and grew from a workforce of 90 to 200, she added.

The company is one of approximately 158 U.S.-based companies described as working in the health care testing space that raised some $3.5 billion in venture-based funding in the past five years, according to a search of the Crunchbase database. Among that list, 43 received funding in 2020.

New investors participating in the round include funds and accounts managed by BlackRock, The Chernin Group, Foresite Capital, Greenspring Associates, Lux Capital, Morningside Ventures and Portfolia, as well as existing investors Goodwater Capital, Highland Capital Partners and Next Coast Ventures.

The new investment brings the total capital raised by the company to more than $250 million since it was founded in 2016, including a $25 million Series C round led by Highland Capital in February, Cheek said. We reported on Everlywell’s $50 million Series B in 2019, and more recently in May when the company was granted U.S. Food and Drug Administration emergency use authorization for its COVID-19 Test Home Collection Kit.

Folx is pulling apart what health care means to the LGBTQIA+ community, and developing an experience tailored for each person.

Co-living startup Starcity said Thursday that it’s acquiring another co-living company, Ollie.

FloatMe offers interest-free and credit-free “floats” of up to $50, account monitoring and savings tools for millennials.

Sourcegraph, a code search startup for developers, has secured a $50 million Series C, the company announced Thursday. 



Buy Cheap MTN, Glo, 9Mobile, Airtel Data VTU Services, Check out the best offers for you Today

SIZEVALIDYOU PAYBUY
1GB30DAYS₦295BUY
2GB30DAYS₦595BUY
3GB30DAYS₦895BUY
5GB30DAYS₦1495BUY
BUY CHEAP VTU SERVICE
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top