Fay Raises $25M for Healthcare-Covered Dietitian Service
Dietitians are becoming more accessible than ever for Americans as platforms like Fay match people with RDs covered by their insurance
Fay, a disruptive new client-to-dietitian networking tool, will have deeper pockets as it aims to tackle the nation’s health crisis by connecting Americans with affordable, personalized nutrition counseling services.
The digital platform announced a $20 million Series A funding round led by Forerunner Ventures with participation from General Catalyst and 1984. That comes after Fay previously raised $5M in a seed round led by General Catalyst, bringing its total to $25 million.
While Fay also helps dietitians build private practices with AI-powered tools, the company is most known for its ability to connect Americans with registered dietitians (RDs) covered by their health insurance for personalized nutrition therapy.
Dietitians on the Fay platform are available for little to no cost to Americans through their health insurance. Most plans don’t require a certain diagnosis or physician referral for nutrition counseling, according to Fay.
“For too long, access to diet and nutrition care has been gate-kept by prohibitively high costs and inability to access RDs who accept insurance,” said Fay co-founder and CEO Sammy Faycurry. “Fay was born from the belief that everyone deserves access to expert care – allowing the majority of Americans to have easy and convenient access to life-changing nutrition counseling.”
Founded by Faycurry and Mark Stefanski, Fay boasts the nation’s largest and fastest-growing network of RDs, according to the platform. With the new capital, the company plans to continue that expansion and enrich its current offerings by integrating food service delivery platforms to address food insecurity, expanding insurance coverage and enhancing partnerships with existing employer plans.
With over half of U.S. adults struggling with diet-related chronic conditions according to the CDC, Fay is gearing up to help Americans at a time when many need it. The widespread use of GLP-1 drugs has likely added to the demand for RDs as people seek nutrition solutions to sustain their weight loss.
“So many people have broken relationships with food, which can often result in expensive health complications, and nutrition is often a critical component of chronic care management and recovery,” said Holly Maloney, managing director at General Catalyst and a Fay board member. “Fay has grown rapidly to build a strong value proposition for both dietitians and patients, and we’re excited to continue to support the team as they scale their mission to help people better eat and live longer.”
Fay currently has over 1,000 providers on its platform and is projected to exceed 2,000 by 2025. The platform has partnerships with major health insurance providers including United Healthcare, Aetna CVS, Blue Cross, Anthem, Cigna, Optum, and Humana, with others that can’t yet be disclosed.
Registered dietitians on Fay cover more than 30 specialties, including eating disorders, diabetes, kidney disease, weight management, gut health, general preventative care.
Fay isn’t alone though in addressing America’s health crisis through nutrition counseling. Nourish, a telenutrition platform that partners with health insurers to deliver in-network dietitian services at no cost, reeled in $35 million in a Series A funding round earlier this spring. Ahara Nutrition, a subscription-based personalized nutrition and supplement solution, pulled in $10.25 million in funding last summer.