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- EverlyWell
EverlyWell Revenue, Valuation, Funding & Investors
EverlyWell is valued at $1.3B as of January 2021, a 13.0x multiple on its last reported $100M revenue.
Last EverlyWell valuation
$1.3B
Secondary · Jan 2021
Last EverlyWell funding round
$175M
Series D · Dec 2020
EverlyWell revenue
$100M
Secondary · Jan 2021
Key investors in EverlyWell
Highland Capital Partners
Goodwater Capital
Next Coast Ventures
Lux Capital
BlackRock
5Y Capital
About EverlyWell
Everlywell is an Austin, Texas-based digital health company, founded in 2015, that sells at-home lab testing kits for conditions including cholesterol, thyroid health, fertility, testosterone, food sensitivities, and sexually transmitted infections, with results reviewed by physicians through partnered labs. The company added COVID-19 sample collection kits in March 2020, scaling to handle up to 250,000 tests per week during the pandemic. Its direct-to-consumer model combines e-commerce sales of test kits with lab fees, physician review, and subscription revenue for repeat testing.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$100M (Jan 2021)
Valuation
$1.3B (Jan 2021)
EverlyWell Valuation
EverlyWell is currently valued at $1.3B, based on its secondary sale in January 2021.
The $75M round was led by HealthQuest Capital.
EverlyWell's valuation has moved from $1.3B at its Series D in December 2020 to $1.3B in January 2021, across 2 priced rounds.
EverlyWell valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2021 | Secondary | $1.3B | 13.0x |
| Dec 2020 | Series D | $1.3B | 6.5x |
EverlyWell Revenue
EverlyWell's latest recorded revenue is $100M, as of its secondary sale in January 2021. At a $1.3B valuation, that implies a 13.0x revenue multiple.
Revenue moved from $200M in December 2020 to $100M in January 2021, while the revenue multiple moved from 6.5x to 13.0x.
EverlyWell revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2021 | $100M | $1.3B | 13.0x | Secondary |
| Dec 2020 | $200M | $1.3B | 6.5x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
EverlyWell Funding History
EverlyWell has raised a total of $250M across 3 funding rounds, plus 1 secondary share sale.
EverlyWell's first fundraising round was a $50M undisclosed-stage round in April 2019. The most recent completed round was a $175M Series D in December 2020.
EverlyWell funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2021 | Secondary | HealthQuest Capital (lead) | $75M | $1.3B | Everlywell is an Austin-based digital health company offering at-home testing kits for conditions like thyroid issues, allergies, food sensitivity, and COVID-19. On January 15, 2021, it raised $75 million from HealthQuest Capital to provide liquidity to existing investors, maintaining the $1.3 billion valuation set by its prior $175 million Series D round in December 2020. HealthQuest Capital founder Dr. Garheng Kong joined the board. The Series D brought total funding over $250 million since 2016, including a $25 million Series C in February 2020 led by Highland Capital Partners and a $50 million Series B in 2019. New Series D investors included BlackRock, The Chernin Group, Foresite Capital, Greenspring Associates, Lux Capital, Morningside Ventures, Portfolia, Goodwater Capital, and Next Coast Ventures. Everlywell expected sales from 2020 to surpass $100 million, driven by growth including its COVID-19 test kit. The company employed nearly 300 people before later 2021 acquisitions expanding to nearly 500 under Everly Health. |
| Dec 2020 | Series D | Trish Costello (lead); Greenspring Associates; Portfolia; Highland Capital Partners; TCG; Lux Capital; Foresite Capital; Goodwater Capital; BlackRock; Next Coast Ventures; 5Y Capital | $175M | $1.3B | EverlyWell is a digital health company offering at-home testing kits for various health conditions, including wellness, hormones, and chronic disease screening, processed through partnered labs and reviewed by physicians. The company provides customizable remote-based solutions to close care gaps, backed by a clinical network and AI platform. The business model relies on e-commerce sales of test kits, lab fees, physician reviews, and subscription recurring revenue for repeat testing. On December 3, 2020, close to the approximate March 2020 date but matching the listed investors including Trish Costello as lead, EverlyWell completed a Series D round with a post-money valuation of $1.3 billion, following prior raises totaling around $255.55M across multiple rounds. A secondary market round followed in January 2021 raising $75M. The company had grown from earlier rounds like Series C in early 2020 and Series B in 2019. Competitively, EverlyWell operates in the direct-to-consumer lab testing space alongside players like LetsGetChecked ($110.9M revenue est.) and Modern Fertility. Total funding reached $325M by some estimates, positioning it strongly in fitness, wellness, and healthcare tech. |
| Feb 2020 | Series C | Highland Capital Partners (lead) | $25M | - | EverlyWell is a digital health platform providing at-home testing kits for various conditions including cholesterol, cardiovascular health, fertility, testosterone, thyroid, Lyme disease, allergies, and sexually transmitted infections. The company also began offering COVID-19 tests in March 2020 as the pandemic took hold. In February 2020, EverlyWell raised $25 million in Series C funding with Highland Capital Partners participating in the round. The company's subsequent Series D round in December 2020 yielded a $1.3 billion valuation with $175 million raised, and a Series E round followed in March 2021 with $75 million raised. By December 2020, the company had raised over $250 million in total funding and was operating a scaled infrastructure capable of handling up to 250,000 COVID-19 tests weekly. |
| Apr 2019 | Undisclosed stage | Goodwater Capital (lead); Highland Capital Partners (lead); Next Coast Ventures; NextGen Venture Partners | $50M | - | EverlyWell is a digital health company founded in 2015 and based in Austin, Texas that provides at-home lab testing kits and telehealth services. The company offers consumer-facing tests for conditions including food allergies and sensitivities, cholesterol, vitamin D, testosterone levels, and COVID-19 sample collection kits, complemented by virtual care services. On April 16, 2019, EverlyWell announced a $50 million Series B funding round led by returning investors Goodwater Capital and Highland Capital Partners, with participation from Next Coast Ventures, NextGen Venture Partners, SoGal Ventures and others. The company planned to use the capital to expand its digital platform and scale partnerships with major brands including CVS and Humana. According to sources, the 2019 round valued EverlyWell at $175 million post-money valuation, which would place this particular $50 million raise at that valuation. Following this round, EverlyWell continued expansion and later secured a Series D round of $175 million in December 2020 at a $1.3 billion valuation, demonstrating rapid growth. The company was recognized as one of Fast Company's Most Innovative Companies in 2019 for its approach to digitizing consumer lab testing. |
Who has invested in EverlyWell?
13 investors have backed EverlyWell across its funding rounds, including Highland Capital Partners, Goodwater Capital, Next Coast Ventures, Lux Capital, BlackRock and 5Y Capital.
Lead investors include HealthQuest Capital, Trish Costello, Highland Capital Partners and Goodwater Capital.
EverlyWell Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Apr 2019 | ||
| 2 | Lead | Apr 2019 | ||
| 2 | Participant | Apr 2019 | ||
| 1 | Lead | Jan 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Lead | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
This data is available for Pro users. Sign up to see all 13 EverlyWell investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by EverlyWell
EverlyWell has acquired 3 companies to date.
Last acquisition by EverlyWell was on March 24th 2021. EverlyWell acquired Everly Health Solutions for undisclosed valuation.
Latest Acquisitions by EverlyWell
| Description | Everly Health Solutions is a provider of lab connectivity platforms for diagnostic testing in the United States. It streamlines ordering, results delivery, and compliance for telemedicine, wellness, and payer providers using its 50-state physician network. The technology handles e-prescribing and patient outreach. Launched in 2017, it processes millions of screens annually for partners like Quest Diagnostics. | Home Access Health is a Hoffman Estates-headquartered provider of at-home diagnostic tests, now under Everly Health. It offers FDA-approved kits for HIV-1, health screens, and hormone panels using self-collected blood samples mailed to CLIA-certified labs. The company launched its services in 1996, distributing through pharmacies and online channels in the United States. | PWNHealth is an Austin-based national physician network delivering telehealth consultations, telegenetics counseling, and diagnostic testing for preventive health including genetic screening, STD panels, and hormone analysis. The platform connects patients to board-certified providers for virtual visits and lab orders fulfilled through partner facilities nationwide. PWNHealth partners with employers and health plans to expand access to clinical guidance. |
| HQ Country | |||
| HQ City | New York City, NY | Chicago, IL | New York City, NY |
| Deal Date | 24 Mar 2021 | 24 Mar 2021 | 4 Mar 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all EverlyWell acquisitions and their M&A valuation multiples. Start Free Trial | |||
EverlyWell Competitors
EverlyWell competitors include listed companies like Sansure Biotech and Insight Lifetech, and private ones like ArsenalBio, Ankon Medical Technologies, Embark and Delfi Diagnostics.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $245M | $48M | $1.4B | 4.1x | ||
| Publicly listed | $81M | $18M | $1.8B | 21.4x | ||
| Private | - | - | $1.9B | - | ||
| Private | - | - | $870M | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $685M | - |
EverlyWell Public Comps
EverlyWell is still privately-owned, but its public comps include Arcs Co, Sinocare, Medartis, Vitrolife, VCANBIO, Weigao Group, Sansure Biotech, ChemoMetec, Conmed and OPKO Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4B | $185M | 0.2x | 0.2x | 4.8x | 4.9x | |||
| $695M | $43M | 1.9x | 1.8x | 31.0x | 15.3x | |||
| $328M | $54M | 4.7x | 4.0x | 28.4x | 22.3x | |||
| $351M | ($449M) | 3.8x | 3.7x | (3.0x) | 11.9x | |||
| $217M | $44M | 4.6x | 4.3x | 22.8x | 25.1x | |||
| $227M | $56M | 4.6x | 4.7x | 18.6x | 13.4x | |||
| $245M | $48M | 4.2x | 4.1x | 21.3x | 14.6x | |||
| $79M | $44M | 16.3x | 15.8x | 29.2x | 29.8x | |||
This data is available for Pro users. Sign up to see all EverlyWell competitors and their valuation data. Start Free Trial | ||||||||
Common questions about EverlyWell
| When was EverlyWell founded? | EverlyWell was founded in 2015. |
| Where is EverlyWell headquartered? | EverlyWell is headquartered in Austin, TX, United States. |
| Is EverlyWell publicly listed? | No, EverlyWell is a private, VC-backed company. |
| What is EverlyWell's valuation? | EverlyWell was last valued at $1.3B in its secondary sale in January 2021. |
| How much funding has EverlyWell raised? | EverlyWell has raised $250M across 3 funding rounds. |
| What was EverlyWell's last funding round? | EverlyWell's last funding round was a $175M Series D in December 2020, led by Trish Costello. |
| Who are EverlyWell's investors? | EverlyWell's investors include Highland Capital Partners, Goodwater Capital, Next Coast Ventures, HealthQuest Capital, Greenspring Associates, Portfolia, Trish Costello, TCG, Lux Capital, Foresite Capital and 3 others. |
| What is EverlyWell's revenue? | EverlyWell's latest recorded revenue is $100M (January 2021). |
| What is EverlyWell's revenue multiple? | EverlyWell's latest valuation implies a 13.0x revenue multiple ($1.3B valuation on $100M of revenue). |
| Which companies are comparable to EverlyWell? | Companies comparable to EverlyWell include Sansure Biotech, Insight Lifetech, ArsenalBio, Ankon Medical Technologies, Embark and Delfi Diagnostics. |
| How many companies has EverlyWell acquired? | EverlyWell has acquired 3 companies, including Everly Health Solutions, Home Access Health and PWNHealth. |
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