Editor's note: A prior version of this story incorrectly described the $75 million funding round. It has been updated to reflect that it was a subsequent close of the $175 million round Everlywell announced in December.
After securing the largest venture capital funding round in Austin in 2020, local digital health tech startup Everlywell Inc. is already making waves in 2021.
The startup has landed a new investor, HealthQuest Capital, that has contributed $75 million. The move was a subsequent close of December's $175 million Series D funding.
While the funding round doesn't boost Everlywell's $1.3 billion valuation, it has strategic importance because of HealthQuest's experience in commercialization of diagnostics and network of health care partners.
As part of the move, Dr. Garheng Kong, founder at HealthQuest Capital, will join Everlywell's board.
“Garheng and HealthQuest have a significant record of commercializing diagnostics businesses with speed and quality, and their ecosystem of hospital systems and payers will help our enterprise line of business scale to meet massive demand," Everlywell founder and CEO Julia Cheek said in a statement.
That news comes a week after Everlywell announced it inked an agreement with Ginkgo Bioworks and Intrivo Diagnostics to work on Covid-19 antigen tests for workplaces, clinics, schools and health plans.
The tests provide results in as little as 15 minutes. Everlywell says its enterprise business has already supplied Covid tests to more than 250 organizations.
A prior version of this story incorrectly described the $75 million funding round. It was a subsequent close of the $175 million round Everlywell announced in December.
