Digital health startup with eye on reversing diabetes raises $133M, receives $2B valuation
Virta Health, a San Francisco-based digital health company that aims to treat Type 2 diabetes by focusing on telehealth and nutrition, has closed a Series E funding round worth $133M.
Tiger Global led this latest wave of contributions, which pushes the company’s valuation to $2 billion.
“Virta is redefining how diabetes and other chronic diseases should be cared for, delivering significantly better health outcomes and impressive cost savings,” Scott Shleifer, founder and managing director of Tiger Global, said in a prepared statement. “We are excited to partner with Virta as its pioneering approach becomes an invaluable benefit offering for more employers and health plans everywhere.”
Virta Health provides patients with continuous guidance from a team of healthcare specialists, working with each individual toward the ultimate goal of reversing their Type 2 diabetes altogether.
The company is expected to use this new investment to push its efforts into the mainstream, ramping up growth and product development while also working with more clients.
“The norm in diabetes care has been more medications, more weight gain, and more suffering,” Sami Inkinen, Virta Health co-founder and CEO, said in the same statement. “Diabetes reversal changes this. We have shown a path for people to live medication and diabetes-free, and this investment is about reaching even more people and taking diabetes reversal mainstream.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.