A Pitch Deck Success Story: How Everside Health Raised $164M in 2022
Securing growth stage funding is a significant milestone in the life of a startup. It’s a clear indication that the company is maturing and thriving in its industry sector. One such success story is Everside Health, a major player in the U.S. healthcare industry. The startup, just recently, raised a whopping $164M, a clear testament to its potential and the confidence of investors. Let’s take a journey through their remarkable story.
Who is Everside Health?
The fastest-growing direct primary care provider, Everside Health operates over 375 health centers across 34 states. They’re not your traditional healthcare company. Everside offers a comprehensive range of services including biometric screenings, health risk assessments, lifestyle coaching, and acute care, effectively becoming a one-stop-shop for preventive and primary healthcare.
From Paladina Health to Everside Health: A Journey of Transformation
Prior to being dubbed Everside Health, the startup was known as Paladina Health. During the Paladina era, the company was consistently recognized for its clinical outcomes, exceeding HEDIS commercial PPO benchmarks. That’s not all. Clients saw a reduction in their overall healthcare costs by 20%, highlighting the economic benefits of their health solutions.
Securing Massive Growth Funding: The $164M Milestone
In 2022, Everside Health experienced a substantial revenue increase, recording over $113 million, a remarkable 40% increase from 2019. Following its revenue success, the company embarked on a funding round and successfully raised $164 million in growth stage funding. The investment was led by NEA, with significant contributions from Oak HC/FT, Alta Partners, and Endeavor Catalist, among the existing investors. This shows the investor community’s robust confidence in Everside’s future.
Key Learnings for Startups from the Everside Pitch Deck
As aspiring entrepreneurs looking for insights into creating a successful fundraising pitch deck, there are several valuable lessons to learn from Everside Health’s success:
- Financial Growth: Everside Health was able to showcase impressive revenue growth, which undoubtedly piqued the interest of investors.
- Clinical Outcomes: By exceeding industry standards and receiving recognition for their clinical work, the startup demonstrated competence and credibility.
- Cost Reduction: Highlighting how they helped clients cut healthcare costs by 20% was a strong unique selling point.
- Vision for Growth: With their development strategy, Everside demonstrated readiness for expansion, an enticing factor for growth stage investors.
Our key takeaway here is the importance of presenting compelling evidence of your value proposition, financial health, and future growth plans in your pitch deck. Here’s to crafting pitch decks that seal the deal!