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

EverlyWell Overview

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

United StatesAustin, TX

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
EverlyWell valuation by funding round
DateStageValuationRevenue Multiple
Jan 2021Secondary$1.3B13.0x
Dec 2020Series D$1.3B6.5x

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

EverlyWell revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2021$100M$1.3B13.0xSecondary
Dec 2020$200M$1.3B6.5xSeries 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

EverlyWell funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2021SecondaryHealthQuest Capital (lead)$75M$1.3BEverlywell 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 2020Series DTrish Costello (lead); Greenspring Associates; Portfolia; Highland Capital Partners; TCG; Lux Capital; Foresite Capital; Goodwater Capital; BlackRock; Next Coast Ventures; 5Y Capital$175M$1.3BEverlyWell 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 2020Series CHighland 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 2019Undisclosed stageGoodwater 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

Investors in EverlyWell by funding rounds participated
InvestorHQRoundsRoleFirst check
Highland Capital PartnersUnited StatesLexington, KY3LeadApr 2019
Goodwater CapitalUnited StatesSan Francisco, CA2LeadApr 2019
Next Coast VenturesUnited StatesAustin, TX2ParticipantApr 2019
HealthQuest CapitalUnited StatesSan Francisco, CA1LeadJan 2021
Greenspring AssociatesUnited StatesBaltimore, MD1ParticipantDec 2020
PortfoliaUnited StatesSan Francisco, CA1ParticipantDec 2020
Trish CostelloUnited StatesSan Francisco, CA1LeadDec 2020
TCGUnited StatesLos Angeles, CA1ParticipantDec 2020
Lux CapitalUnited StatesNew York City, NY1ParticipantDec 2020
Foresite CapitalUnited StatesSan Francisco, CA1ParticipantDec 2020
BlackRockUnited StatesUnited States1ParticipantDec 2020

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Acquisitions 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

Everly Health Solutions
Home Access Health
PWNHealth
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 CountryUnited StatesUnited StatesUnited States
HQ City
New York City, NY
Chicago, IL
New York City, NY
Deal Date24 Mar 202124 Mar 20214 Mar 2021
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to EverlyWell
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Sansure BiotechChinaChinaPublicly listed$245M$48M$1.4B4.1x
Insight LifetechChinaChinaPublicly listed$81M$18M$1.8B21.4x
ArsenalBioUnited StatesUnited StatesPrivate--$1.9B-
Ankon Medical TechnologiesChinaWuhanPrivate--$870M-
EmbarkUnited StatesBoston, MAPrivate--$700M-
Delfi DiagnosticsUnited StatesBaltimore, MDPrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Arcs Co$4B$185M0.2x0.2x4.8x4.9x
Sinocare$695M$43M1.9x1.8x31.0x15.3x
Medartis$328M$54M4.7x4.0x28.4x22.3x
Vitrolife$351M($449M)3.8x3.7x(3.0x)11.9x
VCANBIO$217M$44M4.6x4.3x22.8x25.1x
Weigao Group$227M$56M4.6x4.7x18.6x13.4x
Sansure Biotech$245M$48M4.2x4.1x21.3x14.6x
ChemoMetec$79M$44M16.3x15.8x29.2x29.8x

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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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