Everlywell Raised $175M, Bestow’s National Push, and More ATX Tech News

December 7, 2020
everly well

An insurtech startup is set on nationwide expansion, and Samsung is expanding in more ways than one. Read more to learn what else happened last week on the Austin tech scene. This is the Built In Austin weekly refresh.

Everlywell secured $175M. Lab tests that can be conducted at home have been more widely used since the start of the pandemic, and Everlywell is working to ensure that various test kits, including for the COVID-19 virus, remain accessible. The funds from its Series D will allow for the company to grow its national footprint, expand its testing infrastructure and virtual care platform, and fuel more clinical research. [Built In Austin]

Samsung is expanding its Austin footprint. Though it won’t immediately use its newly acquired 258 acres of land, Samsung Austin Semiconductor is hiring engineers to fill positions in its Austin office. The new plot will be undeveloped for the time being as the company awaits approval by the Austin City Council later this month. [Built In Austin]

Austin Tech Quote of the Week

“Bestow is uniquely suited to reach and serve customers who prefer a fully digital and instant buying experience, without having to physically interact with agents or medical professionals like traditional companies require.” —Jonathan Abelmann, co-founder and president of Bestow

Bestow is looking to insure the nation. The insurtech startup announced its plan to purchase Centurion Life Insurance Company from Wells Fargo. This acquisition would allow Bestow to become a nationally licensed life insurance carrier as well as enable developments to its AI system. Bestow is now hiring for open roles in engineering, marketing, underwriting and more. [Built In Austin]

Volcon is riding onto test sites. The electric vehicle company chose Austin for its headquarters and plans to construct a manufacturing facility as well as incorporate several recreational features for customers. After raising $15 million following its launch, Volcon is working to fill positions on its sales and marketing teams, and expand its manufacturing capacity and distribution networks. [Austin Inno]

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