Digital nutrition company Fay has raised a $50 million Series B funding round led by Goldman Sachs.
Along with Goldman Sachs, previous investors venture capital firms General Catalyst and Forerunner also contributed to the round. The round puts Fay's valuation at $500 million.
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Fay sells a nutrition platform and services to insurers and self-insured employers. The company has a network of 2,300 dietitians, who work as contract employees.
Along with offering users access to dietitians, Fay offers physician clinics resources such as insurance credentialing, billing tools as well as artificial intelligence-enabled meal planning and marketing support.
The company is aiming to engage with patients earlier than other digital health competitors focused on weight loss medications and other trends, said Fay’s co-founder and CEO Sam Faycurry.
“Food and nutrition are always going to be the sort of everlasting horizontal across all of healthcare,” Faycurry said. “Fads come in and out all of the time."
Fay will use the $50 million to scale. The company is working on multiple AI enhancements that can help its contractor clinicians, Faycurry said.
The round brings the company’s total raised to $75 million since its founding in August 2022.
