Australia-based Everlab, a company offering an AI platform designed to support preventative care, announced it has secured US$10 million (AU$15 million) in seed funding in a round led by Left Lane Capital.
WHAT IT DOES
Everlab touts itself as a personal longevity clinic. It offers AI that analyzes and interprets healthcare data to identify early risk markers and recommend personalized next steps for prevention.
It offers a tiered membership model, which includes access to whole-body testing, a lifelong health plan, a personal doctor and access to medical records that are analyzed and interpreted by a doctor within the Everlab app.
The company says it provides "data-driven, personalized interventions tailored to each member's risk profile and health goals."
Everlab will use the funds to expand internationally, grow its workforce and clinic network, and enhance its AI infrastructure.
"We believe everyone deserves access to world-class preventive care," Marc Hermann, founder and CEO of Everlab, said in a statement. "By combining AI with the knowledge of leading clinicians, we've built a new kind of health platform designed to deliver smarter, earlier care to millions."
MARKET SNAPSHOT
A 2022 study, led by researchers from Nanyang Technological University Singapore, revealed that individuals are more likely to accept preventive health interventions suggested by AI when human health experts are involved.
It also found users had less trust in AI-enabled preventive care than in interventions led by human experts.
Other companies in the preventative care space include Pennsylvania-based hybrid care provider PeopleOne Health, which last year announced the closing of up to $32.3 million in Series B funding led by GV (Google Ventures), with participation from Transcarent CEO Glen Tullman and other investors.
New York-based Teladoc expanded its presence in the preventative care space earlier this year with the acquisition of virtual preventative care company Catapult Health in an all-cash deal valued at $65 million.
The deal included an additional $5 million in contingent earnout consideration, meaning Teladoc agreed to pay additional cash or provide equity interests to Catapult should certain events occur after the sale.
