On the second day of the trip, the Digital Safari class visited Virta Health, a company whose goal is to reverse type 2 diabetes through a keto diet and medical support by physicians without the need of medication. We learned about the creation of Virta through one of its founders, Sami Inkinen, who was an Ironman for his age but still had diabetes. Virta wants to offer convenience to their clients by offering a keto diet plan without having them worry about counting calories. For client costs, Virta receives $4,500 per partnership with that number declining the following year.
Right now, 100% of their fees are at risk due to the unsatisfied client being able to easily cut their ties with the company and no real subscription plan in place at the moment. Their were able to acquire deals with multiple health companies, and, most notably, they are partnered with Activision Blizzard, which showed the diversity of brands. They have raised $45MM to date, but, with negative cash flows, they have set a timeline to be profitable within the next few years. We visited Ryan Whitney, a former JP Morgan analyst and current MYAC board member, who wanted to use his finance skills to help change the world. He took a huge risk and left JP Morgan, looking for a job for 8 months, to stumble upon his true passion and help make a difference in healthcare.
By Aman Waheed