EverlyWell Shark Tank Net Worth 2023
Two years after the deal with Lori closed, Everlywell has seen tremendous success, earning $65 million in lifetime sales and gaining a net worth of $2.9 billion! Their products are now available internationally in major retailers like Walgreens, Kroger, CVS, and Target.
Funding rounds from 18 investors have brought in a total of $255.55 million in capital over the years, with the latest funding round totaling an impressive $75 million coming as recently as January 2021.
This last round valued EverlyWell at an astounding $1.3 billion! Thanks to their expansive portfolio – now including PWNHealth and Home Access Health Corp – EverlyWell is well-positioned for continued growth and success!
What is EverlyWell? Who is the Founder of EverlyWell?
EverlyWell is a digital platform in the field of healthcare that makes it easy for people to perform medical tests at home.
EverlyWell offers 35 test kits that can be used at home to analyze different aspects of health using bodily fluids such as blood, saliva, or urine. The tests include assessments of testosterone levels, metabolism, and food sensitivities, which are highly popular.
Once a test kit is purchased, the only remaining steps are to collect a sample and send it to one of EverlyWell’s designated laboratories for analysis by a qualified medical practitioner. The test results are usually available online within five working days.
EverlyWell offers a wide range of tests, including allergy and food sensitivity tests, cholesterol checks, thyroid function assessments, men’s health evaluations, women’s fertility testing, and even sexually transmitted disease (STD) screening.
In 2016, Julia Cheeks, the founder and CEO of EverlyWell, was faced with high out-of-pocket expenses and long wait times for the results of a simple medical test. Dissatisfied with the service she received, Cheeks sought to create a more convenient, speedy, and cost-effective alternative.
EverlyWell is one of several companies that offer at-home testing services, including Modern Fertility and Future Family, which specialize in women’s fertility, and 23andMe, a genetic testing company that has received over $750 million for its services.
However, EverlyWell stands apart from 23andMe in its commitment to maintaining strict privacy and compliance standards.
The company does not sell or disclose consumer data or test results, except to medical professionals who require access to them. EverlyWell stores data on servers that comply with HIPAA, the federal guidelines for handling private health information.
What Happened to EverlyWell at the Shark Tank Pitch?
Julia made an appearance on season 9 episode 12 of Shark Tank, where she requested $1 million in exchange for a 5% stake in her company. This led to some questions about the valuation of her company, which appeared to be around $20 million.
During her pitch, Julia explained how she started her company and highlighted the potential of the lab testing industry, which is worth $25 billion. Her goal is to make lab testing more accessible and convenient for medical consumers.
She then distributed sample kits to the sharks, each of which tests for different parameters such as food sensitivities, vitamin D, and cholesterol. When asked about the price range of the tests, Julia informed Robert that they range from $69 to $399, depending on a person’s insurance coverage.
Although her kits are not yet covered by insurance networks, Julia emphasized that the simplicity of the process is the main selling point. She also revealed that her company has generated $2 million in sales since its inception and is on track to make $4 million next year and $12 million the following year.
Despite concerns from some of the sharks about the competitiveness of the market and the need for additional funding, Julia received an offer from Lori. Lori offered a $1 million line of credit at 8% in exchange for a 5% stake in the company, which Julia accepted with a smile.
What Happened to EverlyWell after the Shark Tank Pitch?
The Helix transaction has been completed, and EverlyWell is striving to boost sales at retail pharmacy stores. Additionally, they are expanding their provider network by adding doctors to share test results with primary care providers.
In the upcoming episode 1118, the company will provide an update on its progress. They have announced their availability in Target and CVS stores, as well as offering mail-in testing services.
In 2020, EverlyWell launched the COVID-19 Test Home Collection Kit and secured a $175 million investment, which valued the company at $13 billion.
The company further expanded by acquiring PWNHealth and Home Access Health Corporation in March 2021, forming the parent company Everly Health.
The press release stated that the combined entities now serve over 20 million individuals annually across all 50 US states, Canada, and Puerto Rico. Prior to these acquisitions, the company’s annual revenue was $52 million.
EverlyWell Net Worth
After acquiring PWNHealth and Home Access Health Corp, EverlyWell is a net worth of $2.9 billion.
Socrates Health Solutions, Thriva, LetsGetChecked, and LIVI are among EverlyWell’s main rivals.
EverlyWell Shark Tank Updates
EverlyWell is a line of at-home medical testing kits that appeared on Shark Tank in November 2017. EverlyWell’s founder and CEO, Julia Cheek, was seeking $1 million for 5% equity in the company.
After the Sharks expressed concerns about the capital required to grow the company, Lori Greiner offered Cheek a $1 million line of credit at 8% for a 5% stake in the business. Cheek accepted the deal, and EverlyWell became Everly Health.
Since appearing on Shark Tank, Everly Health has made incredible strides to grow the company. With Lori Greiner’s investment, Everly Health expanded to new retailers like Target and CVS, led a major rebrand, and launched new mail-in lab tests like the Indoor & Outdoor Allergy tests.
In March 2021, Everly Health acquired PWNHealth and Home Access Health Corporation and formed a parent company called Everly Health.
In Season 11 of Shark Tank, EverlyWell was featured in an update where Lori revealed that the company had earned over $65 million in two years.
The update also mentioned that Everly Health’s products are available in 49 states, excluding New York due to complex billing laws and health testing regulations.
EverlyWell Shark Tank Net Worth and Updates 2023
|Year of Shark Tank Pitch
|Valuation at Shark Tank Pitch
|Offer from Lori Greiner
|$1 million line of credit at 8% for 5% equity
|Total Capital Raised
|Latest Funding Round
|$75 million in January 2021
|Net Worth in 2023
|35 at-home medical test kits
|Available internationally in major retailers, including Walgreens, Kroger, CVS, and Target
|Privacy and compliance standards, strict policy on data and test results disclosure
|Acquired PWNHealth and Home Access Health Corp
|COVID-19 Test Kit
|Launched in 2020
|Socrates Health Solutions, Thriva, LetsGetChecked, and LIVI
What Is EverlyWell And How Does It Work?
EverlyWell is a digital health platform that offers over a dozen home-based medical tests. The company provides a variety of services like general wellness, men or women’s health, sexual health, and genomics.
EverlyWell allows patients to test their health with more convenience and ease than traditional medical establishments. The company promises that these tests will provide clients with similar results that they would receive from a medical professional.
To use EverlyWell, patients can order one of 35 different test kits online or pick one up in their neighborhood Target. Once the order is complete, the package will be shipped out of the fulfillment warehouse within one business day and the patient will receive their order within 2-8 business days.
The patient then collects their own blood, urine, and/or saliva sample(s) and places them into pre-paid packaging for transport to an independent lab.
The lab will begin processing the sample and typically, the patient will see their results within 5 business days of the lab having started the processing stage, depending on which test they ordered.
EverlyWell has contracted with a network of physicians to comply with some state laws requiring physician prescriptions for lab tests. The company has taken fully certified labs and created a new distribution center for them.
Individual consumers ordering the tests pay EverlyWell directly as out-of-pocket expenses. The company’s goal is to focus on the prevention market and offer tests so consumers can create their own preventive care program by monitoring their own testing.
What Types Of Medical Tests Does EverlyWell Offer?
EverlyWell offers over a dozen home-based medical tests, including tests for food sensitivities, metabolism, female fertility levels, heart conditions, cardiovascular health, thyroid, chronic inflammation, and more.
The company offers over 30 at-home lab tests starting at $49, with over half of the tests costing under $100. EverlyWell works with an independent network of board-certified physicians to support users.
The company promises that these tests will provide clients with similar results to those obtained in a medical establishment.
EverlyWell is a digital health testing company that connects consumers with accessible, innovative, and insightful at-home lab tests.
What Was The Outcome Of The EverlyWell Shark Tank Pitch?
EverlyWell founder and CEO Julia Cheek appeared on Shark Tank in November 2017 to acquire additional funding for the Austin-based startup.
After pitching her line of at-home medical testing kits, Lori Greiner offered $1 million line of credit at 8% for a 5% piece of the business, which Cheek accepted immediately.
In a Shark Tank update, it was revealed that the company had earned over $65 million in two years. EverlyWell has been successful in the medical testing space, offering over 30 at-home lab tests starting at $49, with over half of the tests costing under $100.
The company provides health and wellness solutions, including laboratory testing for wellness monitoring, informational and educational use.
What Happened To EverlyWell After Its Appearance At The Shark Tank?
After appearing on Shark Tank, EverlyWell associated with many other companies like Helix and received funding from different companies like Goodwater Capital.
The company has continued to expand its product offerings and partnerships, and has made $65 million in sales till 2020, two years after its appearance on Shark Tank. EverlyWell has also partnered with a number of well-known brands and organizations to bring its testing services to a wider audience.
The company is now talking with big investors for more funding at a valuation of $1 billion.
Overall, EverlyWell’s appearance on Shark Tank helped to bring attention to the company’s innovative approach to at-home health testing, and since then, EverlyWell has continued to grow and expand its reach, making it easier than ever for people to take charge of their health from the comfort of their own homes.
Who is Julia Cheeks?
Julia Cheeks is the founder and CEO of EverlyWell.
When did EverlyWell get started?
The company was launched in 2015 to provide consumers with convenient at-home lab testing services.
How much was she seeking in the Shark Tank?
Julia was seeking $1 million investment for a 5% stake in the company.
Did he the deal from the Sharks?
Julia obtained a $1 million line of credit from Lori Greiner at 8% interest for 5% stake in the firm.
How much did Lori make from EverlyWell?
Lori Greiner claimed on Season 11 of Shark Tank that the firm had generated over $65 million in two years since first appearing on the show and was on course to become one of Shark Tank’s most successful companies.
Is EverlyWell a genuine company?
EverlyWell can assist clients in receiving essential health information in a rapid, accessible, and comfortable manner.
CLIA-certified laboratories are used by the firm. This implies that its tests are subjected to frequent quality checks, and its laboratories are subjected to regular inspections.
Does EverlyWell keep their DNA?
Helix, a partner firm, claims it may keep their DNA sample in its lab indefinitely for “quality control and optimization.”
PWNHealth is owned by whom?
PWNHealth is owned by Everly Well, Inc.
Why is it that EverlyWell takes so long?
Due to increased demand, kits may take up to 2-3 business days to leave their fulfilment centre after their purchase is placed.
Who competes with EverlyWell?
Socrates Health Solutions, Thriva, LetsGetChecked, and LIVI are among EverlyWell’s main rivals.
How accurate is the EverlyWell Covid test?
The EverlyWell COVID-19 Test Home Collection Kit DTC is an rt-PCR test that has been approved by the FDA and satisfies their accuracy standards.
The FDA has established standards for the accuracy of SARS-CoV-2 PCR testing, which must surpass 95 percent at quantifiable quantities.
What does EverlyWell do with their data?
All data is encrypted using industry standard procedures (AES-256).
This implies that data is encrypted both at rest and in transit.
They always employ the most recent technology and security patch levels. Credit card information is not stored in any database.
Does EverlyWell ship to Hawaii?
At the moment, EverlyWell can only ship within the United States. They are also unable to send to APO/FPO/DPO addresses or to US territory.
Is EverlyWell available in New Jersey?
All EverlyWell tests are now available to residents of New Jersey and Rhode Island, and their COVID-19 Test Home Collection Kit is now available in all 50 states, including New York.
What food sensitivities does EverlyWell test for?
The EverlyWell at-home Food Sensitivity Test is an excellent (and simple) approach for them to detect their food sensitivities.
This test determines their sensitivity to 96 different foods, including gluten and dairy products, as well as various meats, fruits, and vegetables.
How quickly does EverlyWell ship?
When people place an order for an EverlyWell kit, it is mailed straight to the location they specify, and it generally arrives within 3-5 business days.
They don’t need to go to the doctor’s office or a laboratory to take the test; they may do it all from home.
Where can they find the EverlyWell lab?
It is based in Dallas Texas.
Is EverlyWell a rapid test?
The majority of quick antigen diagnostic tests, including those offered by EverlyWell, are designed to identify the SARS-CoV-2 nucleocapsid (N) protein.
Why does EverlyWell ship to New York?
This is due to the state’s testing rules. They aspire to eventually be able to provide all of their testing in all 50 states.
Does EverlyWell sell their DNA?
They never sell their clients’ information, and they utilize cutting-edge, bank-grade encryption to safeguard data security.
EverlyWell employs the following security measures: They do not run any servers or store any data.
What is the net worth of Julia Cheek?
Julia Cheek’s net worth is unavailable.