Foley & Lardner LLP represented NEA as the lead investor in Evernow’s $28.5 million Series A financing. The round included participation from 8VC, Refactor Capital, Coelius Capital, and angel investors, including Color CEO Othman Laraki, former Morgan Stanley Vice Chairman Carla Harris, Gwyneth Paltrow, Drew Barrymore, Cameron Diaz, and Abby Wambach.
Evernow is a menopause-focused telehealth startup that provides hormone therapy, like the estradiol patch or pill, and paroxetine, an SSRI that can be used to treat night sweats and hot flashes. When users sign up for the service, they are matched with a clinician who helps build their treatment plan based on the patient’s health history. Medications are delivered to the patients’ homes, and they can continue messaging with their providers as needed.
Evernow will use the investment to hire, build its member community, and use the data it has collected for new product development.
The Foley team was led by Partner Louis Lehot and included Partner Nathaniel Lacktman and Associate Saige Gallop.
Foley’s Telemedicine and Digital Health Industry Team helps organizations and entrepreneurs embrace emerging issues in virtual care, enabling them to provide innovative care for patients in new markets worldwide. The Foley team is committed to helping clients fulfill their goals of harnessing new technology to reach patients anywhere and deliver care without borders or geographic limitations. The group helps clients create fully-fledged telemedicine offerings, delivering end-to-end legal services by coupling precise strategic guidance with rapid turnarounds to maintain that sense of urgency necessary to launch new initiatives and remain competitive in the marketplace.