Fay has reported the successful closure of a Series B funding round worth $50 million. It is led by Goldman Sachs with continued support from General Catalyst and Forerunner. This will take Fay’s valuation to $500 million. It also talks about the recognition of the need for personalized nutrition in healthcare, which is rapidly growing.

Founded in 2022, Fay is rapidly pioneering the digital frontiers of nutritional therapy. This company connects its customers with on-plan, insurance-covered Registered Dietitians to deliver personalized nutrition and lifestyle coaching. Fay believes in making professional diet advice more accessible to many through an AI-driven platform focused on preventive measures for health, as well as management of chronic diseases.

The latest $50 million Series B funding round was led by Goldman Sachs, a global leader in investment banking and asset management. General Catalyst and Forerunner, existing investors, also participated, reiterating their belief in Fay’s mission and growth trajectory. This latest round of funding brings Fay’s total funding to $75 million, following a $25 million Series A round in 2024.

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Fay aims to transform the way people think and engage with food through customized, affordable, and insurance-reimbursed nutrition coaching. The company sees a future in which nutrition counseling is part of healthcare, such that patients are equipped with knowledge to make healthy choices that promote their health and prevent chronic diet-related conditions.

Since its founding, Fay has grown at an incredible pace. The company now has over 2,300 Registered Dietitians that deliver AI-driven care through Fay’s comprehensive platform. By partnering with leading payors such as United Healthcare, Aetna CVS, Blue Cross, Anthem, Cigna, Optum, and Humana, 

Fay has extended its services to more than 200 million Americans with personalized nutrition and lifestyle counseling with minimal to no out-of-pocket costs.

Fay’s core lies in its platform, which utilizes AI to provide the dietitians with ways to automate time-consuming administrative burdens like insurance claims, scheduling, and patient follow-ups. By automating, dietitians can focus more on delivering truly personalized and thoughtful care.

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Furthermore, the data analysis will empower dietitians to create the right journeys for clients, like supplement recommendations, curated shopping lists, and even lab analyses meant to support the preventive health efforts of employers and insurers.

Strategic partnerships with employers, physicians, and payors further the rapid expansion of Fay. It works with the employees of such companies as Amazon, Microsoft, and Pepsi so that as many people as possible have access to the expert services of dietitians through their insurance coverage. The strategic partnership enhances the service delivery scope of Fay and emphasizes the concern for employee health by major companies.

Health challenges facing the United States are massive. More than half of adults are struggling with diet-related chronic conditions. Fay intends to transform the health care system from being reactive to proactive. It is to be preventive, using personalized nutrition and lifestyle counseling. 

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By making expert dietary guidance accessible and affordable, Fay will help improve health outcomes and reduce healthcare costs related to chronic diseases.

The new capital of $50 million will be used to drive Fay’s growth and to better serve both dietitians and clients. Plans include increasing the network of Registered Dietitians, developing the AI-driven platform further to offer more personalized and effective care, and building partnerships with employers, physicians, and payors to increase Fay’s services.

Looking forward, Fay is set to continue its growth and innovation trajectory. The company will continue to deepen its integration with healthcare providers and insurers to ensure that personalized nutritional therapy becomes a standard component of preventive healthcare. 

Fay will leverage technology and strategic partnerships to make a lasting impact on public health and transform how people think about and engage with food.