Goldman Sachs led the round, which will fuel enhancements for Fay’s registered dietitians and clients
Digital nutritional therapy platform Fay—which connects consumers with insurance-covered Registered Dietitians (RDs)—has raised $50 million in a Series B led by Goldman Sachs, valuing the company at $500 million.
Existing investors General Catalyst and Forerunner also participated, bringing Fay’s total funding to $75 million. The investment will support growth initiatives and new offerings for dietitians and clients, the company said.
“Our AI-driven platform gives dietitians’ superpowers,’ automating burdens like insurance claims, scheduling, and patient follow-ups so they can focus on providing intimate and thoughtful care,” Fay co-founder and CEO Sammy Faycurry said. “By analyzing vast amounts of information, our platform helps dietitians craft more precise, personalized journeys for their clients, including supplement recommendations, hyper-curated shopping carts and lab analyses to drive prevention initiatives for employers and insurers.”
The new funding follows Fay’s $25 million raise last spring. Since its 2022 launch, the client-to-dietitian platform has added more than 2,300 RDs in its network and integrates with several insurance companies, including United Healthcare, Aetna CVS, Blue Cross, Anthem, Cigna, Optum, and Humana. It’s also landed several partnerships with major employers like Amazon, Microsoft and Pepsi, where their employees have access to Fay’s RDs.
Several specialties and modalities are available for clients, depending on their needs: eating disorders, diabetes, perimenopause and menopause, PCOS, pediatrics, sports nutrition, fertility, gluten-free, vegan, vegetarian, IB, gut health, oncology, weight loss, thyroid health and more, as well as functional health, intuitive eating and GLP-1 users.
Chase Williams, an investor at Goldman Sachs, underscored the importance of nutrition and its widespread impact on Americans.
“Nutrition is a fundamental component of healthcare, and yet it is often overlooked until it is too late, with people putting off behavior change until they get diagnosed with an avoidable chronic condition,” Williams said. “It doesn’t have to be that way, and a major part of U.S. healthcare moving towards value-based care is getting the system as a whole to work in a more proactive and preventative way.”
Better nutrition care will be at the center of the transition, he says.
“We believe Fay is uniquely positioned to support this shift with their AI-driven provider enablement platform for registered dietitians. We are thrilled to lead Fay’s Series B and support Sammy, Mark and the entire Fay team as they help registered dietitians build a thriving independent practice and enable patients to access high-quality, in-network nutrition care.”
Nutrition has become a focal point of the wellness industry, especially as studies continue to reveal the negative impacts of ultra-processed foods. Notably, Gen Z consumers demonstrate a willingness to spend an average of $7,856 per year (the largest of any generation) to achieve health, according to a recent survey by Forbes Health and Talker Research. The findings also indicated that the majority (68%) of respondents are willing to give up fast food, soda (65%) and ultra-processed foods (62%).