April 13, 2024

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Home COVID Take a look at Startup Everlywell Nets $75M

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Everlywell, an Austin, Texas-centered producer of residence checks for COVID-19 and other ailments and wellbeing circumstances, has raised $75 million on prime of a the latest $175 million Series D spherical, in accordance to published stories.

The hottest funding will come from HealthQuest Cash, a Belmont, California-primarily based investment decision fund that focuses on organizations in their early levels of advancement. The expenditure will place HealthQuest Handling Companion Garheng Kong on Everlywell’s board of administrators, in accordance to a Friday (Jan. 15) tweet from his account.

According to printed reviews, since the new financial commitment will be utilized to “provide liquidity” for current buyers, the placement will not improve Everlywell’s $1.3 billion valuation.

In addition to its $109 COVID-19 examination, Everlywell sells home check kits for foodstuff sensitivities, thyroid complications, metabolic challenges, vitamin deficiencies and other situations.

The new funding comes 6 months right after Everlywell closed a $175 million Collection D fundraising spherical, experiences mentioned.

In asserting that round, Everlywell ssaid in a information release that the cash would be applied “to expand buyer lab screening and digital health offerings.”

Asserting in March that Everlywell was acquiring a property COVID-19 take a look at, firm Main Medical and Scientific Officer Dr. Frank Ong explained, in accordance to PYMNTS: “As the COVID-19 public well being emergency continues to worsen with group unfold throughout the United States, there is an unmet medical need to broaden the accessibility to screening for SARS-CoV-2 coronavirus in a dependable way to complement and assist reduce the possible overload on health care systems and healthcare vendors if tests was only out there in the minimal scientific environment.”

HealthQuest Capital’s portfolio features 20 lively investments, in accordance to its website.

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