Cabinet Health, a healthcare company, was started by Achal Patel and Russ Gong in 2018. As of October 2023, Cabinet Health’s net worth is 23.6 million and they’re pulling in a whopping $12.9 million in annual revenue.
In January 2023, they appeared on Season 14 of Shark Tank USA and made a deal with Tony Xu and Kevin O’Leary, $500,000 for 7% equity + 2% Royalty. The final valuation was $7.1 million, down from the founder’s initial estimate of $20 million
As of 2023 November, the company is still in business. You can purchase products on e-commerce channels such as their website and Amazon.
Cabinet Health Net Worth
| Net worth | $23.6 million (2023) |
| Annual Sales Revenue | $12.9 million |
| Profits | – |
| Lifetime sales | – |
| Investors | Tony Xu and Kevin O’Leary |
| Founders | Achal Patel and Russ Gong |
| Employees | 1-25 employees |
Cabinet Health Net Worth Timeline
| Net Worth 2023 | $23.6 million |
| Net Worth 2022 | $17 million |
| Net worth valuation 2023 after appearing on Shark Tank | $7.1 million |
| Net worth valuation 2023 before appearing on Shark Tank | $20 million |
Cabinet Health Pitch on Shark Tank
| Company name | Cabinet Health |
| Product | Sustainable healthcare plastic free packaging |
| Episode | Season 14 Episode 11 |
| Founders | Achal Patel and Russ Gong |
| Asked for | $500,000 for 2.5% equity |
| Final deal | $500,000 for 7% equity + 2% Royalty |
| Sharks | Tony Xu and Kevin O’Leary |
| Location | New York City, USA |
Don’t miss these product from Season 14
Cabinet Health Founders
Cabinet Health was founded by Achal Patel and Russ Gong in 2018. Russell Gong, the co-founder and president of Cabinet Health Company, has a wealth of experience in various roles. He’s also been an Infantry Officer in the US Army for 8 years. Mr. Patel, who studied at the University of Virginia and held multiple positions at Deloitte, is another co-founder of Cabinet Health and serves as the CEO. Cabinet Health’s founders, Achal Patel and Russ Gong, have a net worth of 5 million USD as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2023 | The company appeared on Shark Tank Season 14 and got the deal from Tony Xu and Kevin O’Leary |
| 2022 | In December 2022, they secured $17 million in both debt and equity funding. This financial boost was intended to support their growth into the prescription and retail sectors. The announcement came shortly before their initial air date and increased their total venture funding to $23.6 million |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Cabinet Health and its continued success.
