Pat Cummins can add venture investor to his list of credentials. Australia's Test cricket captain has joined a roster of high-profile backers putting $65 million into Everlab, a Melbourne-based healthtech startup that's building what it calls a "longitudinal care system" for preventative health—and doing so at a clip that's caught the attention of international investors.
The Series A round, announced June 17, 2026, values the barely three-year-old company at close to half a billion dollars. That's a striking number for a market where medtech capital tends to flow cautiously. But Everlab's backers—AirTree Ventures led the round, with participation from Plural, Left Lane Capital, b2venture, and Cummins—are betting that the infrastructure for coordinating fragmented healthcare is ripe for disruption.
It's the largest medtech raise Australia has seen since October 2025, when Heidi Health, the AI clinical documentation company, closed a $65 million Series B. For a sector that often struggles to attract venture dollars at scale, Everlab's momentum is worth noting.
From Zero to 20,000 Members in Three Years
Founded in 2023 by CEO Marc Hermann, CMO Dr. Steven Lu, Chief Tech & Product Officer Anshul Jain, and COO Sam Kothari, Everlab has accumulated more than 20,000 paying members across Australia and New Zealand. The platform has facilitated over 40,000 consultations and now processes upwards of 200,000 health reports monthly—a volume that suggests the company has found something resembling product-market fit, at least in its home market.
What Everlab offers is a synthesis: advanced diagnostics, specialist consultations, prescription management, and data from wearable devices, all stitched together into a single dashboard. Members pay $299 annually for core access—care plans, wearable integrations, an AI health assistant—with additional diagnostics and specialized programs priced on top. It's part consumer health play, part clinical infrastructure. The model invites scrutiny, particularly around how much clinical oversight is appropriate when algorithms start guiding care decisions. But the company insists it's not replacing doctors; it's giving them better tools to coordinate across a system that was never designed to talk to itself.
The numbers, at least, hint at clinical relevance. Everlab says more than a quarter of its members have received previously undiagnosed findings. Among those referred for colonoscopy, the polyp detection rate exceeds 50%—a figure that, if validated at scale, would be significant.
An International Playbook Takes Shape
Everlab expanded into New Zealand earlier this year. Now the company is setting its sights on the UK, a market with its own regulatory complexities but also a healthcare system under strain and potentially more open to digital coordination tools.
That's where much of the new capital is headed. The company outlined three priorities in its announcement: fortifying clinical and technology infrastructure, accelerating international expansion (UK first), and hiring aggressively in AI and engineering. The engineering team has already grown from fewer than 10 to 25 in the six months leading up to the raise—a pace that suggests urgency, perhaps more than the founders initially expected.
Everlab has also built out its provider network. The platform has integrated with more than 1,850 locations, enlisted over 180 clinicians, and connected more than 30 wearable device types. It's processed north of 21 million biomarker test results to date. Whether that infrastructure translates smoothly to the UK—where the NHS dominates and private health operates under different rules—remains an open question.
The Venture Bet
AirTree, one of Australia and New Zealand's most active venture firms, led the Series A. Left Lane Capital, which led Everlab's $10 million seed round last July, came back for more. So did b2venture, the European firm that led the company's $3 million pre-seed in late 2023.
The new name on the cap table is Plural, the London-based venture firm founded by Taavet Hinrikus (Wise co-founder), Sten Tamkivi, and Ian Hogarth. Plural's involvement signals that European investors see potential in Everlab's model, particularly as the company prepares to enter the UK market.
A half-billion-dollar valuation for a company not yet three years old is rare in the Australian startup ecosystem, especially outside software. Healthtech companies face regulatory hurdles, longer sales cycles, and the challenge of proving clinical efficacy alongside business metrics. Everlab will need to demonstrate that its platform can deliver measurable health outcomes at scale—and do so profitably—if it hopes to justify that valuation in future rounds.
For now, though, the capital is secured and the expansion timeline is set. Whether Everlab becomes a case study in how digital infrastructure can reshape preventative care, or another cautionary tale about scaling too fast across borders, will depend on execution over the next 18 months. The company has the runway. What it does with it comes next.
