Covid-Test Firm Everlywell Seeks Funding at $1 Billion Valuation

Everlywell Inc., a health startup that sells a Covid-19 home-testing kit, is in talks to raise fresh capital at a valuation of $1 billion or more.

Prospective investors including venture capital firms are participating in the discussions, according to a person familiar with the matter who asked not to be named. The company reached a valuation of $175 million after a fundraising round last year, according to Pitchbook estimates.

The latest effort, if successful, would vault Everlywell to unicorn status, giving it a lead among niche telehealth startups that are rushing to expand. The global pandemic has been a ...