Total amount raised
$2 Billions
Latest funding date
4/1/2021
Location
Virta Health has successfully raised significant funds through multiple funding rounds, including a Series E round. The company is dedicated to reversing type 2 diabetes and other chronic metabolic diseases through a personalized, nutrition-first approach.
Keep reading to explore the intricacies of Virta Health's fundraising journey and the investors backing this transformative platform.
What Is Virta Health?
Founded in 2014, Virta Health is headquartered in San Francisco, California. The company was established by Sami Inkinen with a mission to reverse type 2 diabetes and other chronic metabolic diseases.
Virta Health employs between 501 and 1000 people, focusing on a personalized, nutrition-first approach to healthcare. Their innovative platform offers continuous remote care, providing both medical and behavioral support to patients.
By leveraging a clinically-proven treatment, Virta Health aims to eliminate the need for medications or surgery, making sustainable health improvements accessible to a broader population.
How Much Funding Has Virta Health Raised?
- Series A
- Amount Raised: $37M
- Date: March 2017
- Lead Investors: Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for the company's mission to reverse type 2 diabetes.
- Series B
- Amount Raised: $45M
- Date: April 2018
- Lead Investors: Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and enhance its telehealth services.
- Series C
- Amount Raised: $93M
- Date: January 2020
- Lead Investors: Caffeinated Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and meet the growing demand for diabetes reversal solutions.
- Series D
- Amount Raised: $65M
- Date: December 2020
- Lead Investors: Sequoia Capital Global Equities
- Valuation at Round: $1.1 billion
- Motivation Behind the Round: To support the company's rapid growth and expand its telehealth services.
- Series E
- Amount Raised: $133M
- Date: April 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $2 billion
- Motivation Behind the Round: To accelerate the adoption of Virta's telehealth-powered diabetes reversal treatment and support growth in research and product innovation.
Total Amount Raised: $373M. Current Valuation: $2 billion.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that deploys capital in both public and private markets. They are known for their aggressive investment strategy and significant influence in the tech sector.
- Investment Focus Areas: Technology, consumer, industrial sectors.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Caffeinated Capital
- Details: Caffeinated Capital is a venture capital firm that invests in early-stage technology companies. They focus on backing visionary founders and disruptive technologies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Airtable, Brex, Notion.
- Venrock
- Details: Venrock is a venture capital firm originally established as the venture arm of the Rockefeller family. They have a long history of investing in transformative companies.
- Investment Focus Areas: Healthcare, technology, energy.
- Notable Investments: Apple, Intel, Gilead Sciences.
- Sequoia Capital Global Equities
- Details: Sequoia Capital Global Equities is part of Sequoia Capital, a renowned venture capital firm. They focus on investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Google, Airbnb, WhatsApp.
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that invests in companies creating positive environmental and social impact. They focus on "world-positive" startups.
- Investment Focus Areas: Sustainable systems, healthy living, people power.
- Notable Investments: Beyond Meat, Medium, Diamond Foundry.
What's Next for Virta Health?
Virta Health stands at the cusp of a significant opportunity to revolutionize diabetes care. With nearly half of U.S. adults suffering from type 2 diabetes or prediabetes, the potential market is vast. The company’s telehealth-powered diabetes reversal treatment is poised to meet the surging demand from large employers, health plans, and government entities. This growth is further fueled by the increasing adoption of telehealth, accelerated by the COVID-19 pandemic.
Future fundraising opportunities appear promising, given the rapid valuation increase to $2 billion and the strong investor interest demonstrated in the recent Series E round. Additional funding could support further scaling of operations, research, and product innovation. However, Virta Health may face challenges such as ensuring long-term adherence to treatment plans, navigating regulatory landscapes, and maintaining high-quality care as they expand.
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