EverlyWell jumps the ‘Shark’
“Shark Tank,” the hit ABC television series, is paying off for EverlyWell, an at-home health testing company. EverlyWell founder and CEO Julia Cheek accepted a $1 million line of credit in exchange for 5% equity on the show that aired Sunday, Nov. 26. It is the largest valuation deal for a solo female entrepreneur in “Shark Tank” history.
“You get one shot to tell your story to the sharks and to America.” Cheek said after the show. “We know that our brand and consumer education is incredibly important to our growth, so it was really a once in a lifetime opportunity to get to pitch the sharks for an investment. This has been an incredible journey, and I’m grateful that we got our retail ‘start’ at GMDC’s Demo Day. We are eager for the next chapter in EverlyWell’s growth."
EverlyWell was first pitched in front of a retail executives audience during Global Market Development Center’s Retail Tomorrow “Demo Day” in 2016, then went on to win the Chair’s Choice Award during the 2017 GMDC Health Beauty Wellness Marketing Conference. The company offers a variety of at-home lab tests — including tests for food sensitivity, metabolism, sexually transmitted infections, ovarian reserves and others, some of which also offer a DNA analysis component. The results of the tests are delivered via the company’s secure platform.
“We knew Julia and her innovative company was poised for incredible success when the startup presented at our inaugural Demo Day,” said Patrick Spear, president and CEO of GMDC. “And that success has been rewarded by this historic – and groundbreaking — ‘Shark Tank’ deal. The sky’s the limit for Julia and EverlyWell, and we are proud of the entrepreneurial accomplishments they are enjoying.”