The funding will help Virta Health to provide diabetes reversal treatment to over 30 million Americans suffering with type 2 diabetes
Virta Health has secured $133m in equity financing to boost the adoption of its advanced telehealth-powered type 2 diabetes reversal treatment.
The series E financing round, which was led by Tiger Global, has also helped in increasing the company’s valuation to $2bn.
Virta will use the funds to boost research and product innovation, in addition to meeting the demand for diabetes reversal from employers, health plans, and the government.
The investment is also expected to help Virta to provide diabetes reversal treatment to over 30 million Americans suffering with type 2 diabetes.
The company works with more than 100 organisations and treats patients in all 50 states in the US.
Virta offers patients continuous and proactive care from doctors and health coaches. With episodic care and remote patient monitoring, the Virta model facilitates long-term adherence to nutritional interventions, which could stop progression and even reverse chronic disease.
Virta Health co-founder and CEO Sami Inkinen said: “The norm in diabetes care has been more medications, more weight gain, and more suffering. 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.”
The latest funding follows a recent $65m raise in December last year, led by Sequoia Capital Global Equities.
The round, which also saw participation from Caffeinated Capital, took the total funding to more than $230m and Virta’s valuation to more than $1.1bn.
In March, Virta announced the publication of new peer-reviewed research in Nutrients.
In the publication, the company reported outcomes in diabetes prevention, with only 3% of trial participants progressing to type 2 diabetes (T2D) and more than half seeing prediabetes reversal during the first two years.