Everlywell develops at-home testing kits for a range of health concerns—thyroid issues, allergies and food sensitivity—and added a COVID-19 home collection test kit in 2020. The COVID product generated significant growth for the company and helped drive demand for its broader product suite, according to CEO Julia Cheek. Everlywell sells direct-to-consumer and also works with employers and health plans as it builds an enterprise operation. The company has signaled plans to scale its at-home testing business and expand virtual care options following its December financing. Financially, Everlywell’s $1.3 billion valuation set in December remains intact. The company intends to use proceeds from the recent financing to provide liquidity to existing investors while leveraging new investor partnerships to accelerate enterprise growth. Everlywell builds and distributes at-home healthcare tests supported by a digital platform that delivers results, explains diagnostics, and guides follow-on care and expert medical advice. Its test menu includes COVID-19 collection kits (FDA emergency-authorized for this use), thyroid, food and allergen sensitivity, women’s health and fertility, and vitamin D tests. The company has expanded retail distribution to more than 10,000 locations across Target, Walgreens, CVS and Kroger and has landed partnerships with diagnostic labs, insurers and major employers. Demand surged during the COVID-19 pandemic: three-quarters of its test menu grew over 100% year-over-year, and several tests are at 4x–5x growth. The company reports its COVID-19 test is 75% new buyers and has an NPS of 75, driving referral and repeat purchases. Everlywell says the pandemic accelerated consumer adoption of virtual and at-home care, and the raise is intended to expand virtual care options and scale its at-home testing business. EverlyWell offers a portfolio of in-home health diagnostic tests and currently markets 35 different kits. Since launching on TechCrunch Disrupt in 2016, the company expanded from eight blood, saliva and urine-based tests to a broader set of wellness and diagnostic panels, including top tests for testosterone, metabolism, Vitamin D, food sensitivity and STDs. EverlyWell uses established laboratory partners to perform diagnostics and says it does not sell or share consumer results except with clinicians in its physician network. The company has retail and payer partnerships with CVS and Humana and began national sales at Target this month. EverlyWell plans to continue expanding its product and service array and to build its retail footprint and brand. EverlyWell offers consumer-facing at-home specimen collection kits sent to affiliated labs for analysis across sexual health, men’s and women’s hormone testing, food‑sensitivity and metabolism panels, and niche tests like DHA in breast milk. The company has prioritized consumer education and brand visibility, using high-profile channels such as Shark Tank to drive customer acquisition. Leadership plans to expand distribution into retail channels—citing 23andMe’s retail partnerships with Target, Walgreens and Best Buy—as a way to make kits available where customers shop. EverlyWell is collaborating with DNA testing company Helix and is in talks with other consumer brands on partnership opportunities. The company emphasizes not sharing personal health data with third parties and says it aims to enable automatic sharing of results with pre-authorized physicians. Investors earlier this year provided a $2 million financing led by NextGen Venture Partners, SoGal Ventures, Full Tilt Capital and others. The article notes skepticism among investors about the costs of scaling a direct-to-consumer diagnostics business; EverlyWell is Austin-based and pursuing retail expansion to support growth. EverlyWell operates a direct-to-consumer diagnostic testing service that lets customers order tests online, collect samples at home and send them to affiliated labs for analysis. Its product portfolio includes food sensitivity, thyroid, metabolism, sexual health and other tests priced between $70 and $400, with results reviewed by physicians and posted to an online portal with simplified charts. Founded in 2015 and based in Austin, the company reports customers in 46 states and thousands of customers overall. EverlyWell has 15 full-time employees, several lab partners, and says it is growing 20% month over month, having sold millions of dollars of kits less than a year in. The company plans to expand its suite of tests, hire key leadership positions, launch new partnerships and enhance product features with the new funding. Its stated mission is to make routine diagnostic tests more consumer-friendly and more transparent in cost compared with traditional lab testing.

Total raised

$306M

Funding rounds

6

Latest round

Equity

Latest activity

Jan 2021