Fay, a digital diet remedy startup, has secured $50 million in Collection B funding led by Goldman Sachs, the corporate introduced on Wednesday.
San Francisco-based Fay connects folks to a community of over 2,300 registered dietitians lined by insurance coverage, together with UnitedHealthcare, Cigna and Aetna. Sufferers can entry digital or in-person visits with dietitians. For the dietitians, Fay helps them construct their very own non-public follow and get credentialed with insurance coverage. The startup additionally serves massive employers like Amazon, Microsoft and Pepsi.
Along with Goldman Sachs, the $50 million Collection B spherical included participation from present traders Basic Catalyst and Forerunner. The Collection B spherical comes shortly after the corporate’s $25 million Collection A spherical in Might 2024, bringing its complete funding to $75 million. The funding will assist Fay additional develop and increase its choices for dietitians and shoppers.
Vitamin is an space that’s ceaselessly uncared for in healthcare, based on Chase Williams, investor at Goldman Sachs.
“Vitamin is a elementary element of healthcare and but it’s usually neglected till it’s too late, with folks laying aside conduct change till they get identified with an avoidable power situation. It doesn’t must be that manner, and a serious a part of US healthcare shifting in the direction of value-based care is getting the system as a complete to work in a extra proactive and preventative manner,” Williams stated in a press release. “Higher diet care shall be on the heart of this transition, and we consider Fay is uniquely positioned to assist this shift with their AI-driven supplier enablement platform for registered dietitians.”
At the moment, greater than half of adults within the U.S. battle a diet-related power illness. And a part of the issue is that the healthcare system is extra reactive reasonably than proactive, based on Sam Faycurry, founder and CEO of Fay. The corporate goals to deal with this subject.
“We let lots of of hundreds of thousands of individuals get sick and wrestle with debilitating power circumstances that might have been prevented, then provide to deal with signs,” Faycurry stated in an electronic mail. “It’s no one’s fault that that is how the system operates immediately, however we should change it as a result of we deserve higher. Vitamin care is vital, life-changing, proactive care as a result of it is likely one of the only a few well being domains that spans throughout virtually each well being subject from diabetes to consuming problems to most cancers. We’re democratizing entry to assist folks reside more healthy, happier lives.”
Quite a few different digital well being startups are additionally providing meals and diet assist, together with Season Well being and NourishedRx. Faycurry beforehand informed MedCity Information that Fay differs from others within the house by “empowering dietitians to be unbiased practitioners.”
Picture: Abscent84, Getty Pictures
