Digital health startup Everlywell has raised $175M Series D

Dec 04, 2020 · 1 min read
Share this

Everlywell digital health startup has raised a Series D funding round of $175 million, following relatively quickly on the heels of a Series C round of $25 million that closed in February of this year. Series D included a large number of new investors, including BlackRock, The Chernin Group (TCG), Foresite Capital, Greenspring Associates, Morningside Ventures and Portfolio, along with existing investors, including Highland Capital Partners, which led the Series C round. The startup has now raised over $250 million to date.

Everlywell, which launched to the public at TechCrunch Disrupt SF 2016 as a participant in Battlefield Startup, specializes in home health care and specifically in home health care tests supported by its digital platform to provide clients with their results and help them understand diagnoses and how to seek appropriate follow-up care and expert medical advice.

Earlier this year, Everlywell launched a COVID-19 home test collection kit, the first such test to receive an emergency authorization from the U.S. Food and Drug Administration. (FDA) for use that allowed cooperation with multiple laboratory service providers over time. The COVID-19 test kit joins many other offerings, including tests for thyroid hormone levels, food and allergen sensitivity, women’s health and fertility, vitamin D deficiency and more.

“We obviously have a very successful COVID-19 test,” he said. “But we’ve also seen three-quarters of our test menu simply explode to over 100% growth year after year, and several of our tests have a growth of 4x or 5x. That’s really representative of this change in consumer health behavior that will continue in a big way in many different verticals that include testing and making things more convenient, digitally enabled and in the home.

Like other solution-based companies shifting to more remote and virtual care options, Cheek said Everlywell had already anticipated this type of consumer demand, but COVID-19 has dramatically accelerated the pace of change, which is why the startup set this up.

Ads