Marc Hermann was 13 when his father, fit and seemingly healthy, collapsed and died of a sudden heart attack in his mid-40s. That moment shaped the rest of his career, and this week it helped land Everlab one of the largest medtech raises in Australian history.
The Melbourne-based preventive healthcare startup closed a $65 million round at a valuation approaching $500 million, led by AirTree Ventures with participation from London's Plural, existing backer Left Lane Capital, and a notable investor in Australian cricket captain Pat Cummins. It's the country's biggest medtech raise since Heidi Health's $98 million effort last October.
Everlab's model is straightforward: full-body MRI scans, blood testing and AI-driven analysis to catch disease in patients before symptoms appear, built on the idea that most serious health scares come with warning signs hiding in the data, if anyone bothers to look. The company has processed more than 21 million biomarker results across 20,000 patients and flagged 114 urgent, life-saving findings last year alone.
What makes this raise interesting isn't just the size, it's that Everlab didn't go looking for it. Hermann says the company had barely touched its previous funding round when investor interest intensified on its own, the kind of inbound demand that tends to produce better terms than a scramble for cash. The money will go toward AI infrastructure and an expansion into the UK, where Hermann sees an NHS under strain pushing patients toward private alternatives, much like he believes Australia's own healthcare system is trending.
One thing the raise won't lead to anytime soon is an IPO. Hermann ruled out taking the company public for now, saying it still has "a way to go" before it's ready for public markets. For a sector that's struggled to produce venture-scale wins, Everlab's growth and its founder's personal stake in solving the problem make it one of the more interesting Australian growth stories of the year.
