Everly Well entered the Shark Tank with their home health tests. Once you register your kit and collect your sample, you return it in a pre-paid envelope to their partner labs. Results are posted on a secure site in days.
We interviewed the Harvard Business School graduate behind the company, Julia Cheek, who said she and her team launched it in hopes of redesigning lab testing, making it convenient and meaningful.
Here’s what else she told us about…
How the Idea Came About
After personally having a really bad experience with very expensive lab testing that resulted in little explanation from my doctors, I knew there had to be a better way – especially since managing biomarkers is a top contributor to preventing chronic disease.
How It Works
Customers order one of our kits online, collect a sample at home- dried blood spot, urine or saliva- and return it to one of our fully-certified partner laboratories. A board-certified physician authorizes each order and reviews results for accuracy before the customer gets them. Everly Well then provides a complete, easy-to-read results report with interactive graphics and charts, online, in just a few days. We work with partner labs around the U.S. who are all CLIA-certified, fully accredited and validated. These labs have been around for many years and typically work with physician practices, so we use the same labs doctors are using.
Advice to Future ‘Tank’ Contestants – ‘Be Patient’
Be ready for the commitment. The application took about 20 hours to fill out, and it forces founders to demonstrate they’re a credible business, and not just trying to get a PR bump to boost interest and sales. It’s also important to be patient and know that there are no guarantees; it’s a very competitive process. We also spent a ton of time thinking about how to communicate our pitch in a way that was attention-grabbing for consumers. Make sure to find a way to make your pitch interesting for both the Sharks and the audience.
Their New Product & Future Plans
Our vision is that health and wellness testing is available to every American where they live and work, on shelves, online and at home. We just launched an Ovarian Reserve test which is the first of its kind at $79 and can help women manage a key fertility marker, FSH [Follicle-Stimulating Hormone]. We are planning an additional 12 plus tests for next year, as well as announcing several big partnerships. We also just rolled out in our first brick-and-mortar locations.
The Everly Team
Our team formed from a small group of passionate and productive people willing to work extra hard to be part of the company’s success. They all have very different skills- life sciences, operations, engineers, designers, marketers…The one thing that aligns the folks who succeed on our team is a common set of traits that are independent of expertise: intellectual curiosity, data-driven decisions, and excellent execution. Our leadership team recently expanded to include our Chief Business Officer, Theresa Tribble, was previously the founder of a number of life-sciences companies. She brings significant expertise in diagnostics and related early-stage life-science related technologies. As we expand into new products and channels, she’s been instrumental, along with our Chief Medical Officer, Dr. Marra Francis, in getting new products and partnerships to market.
Other Shark Tank products: