Fay is a company that connects people with registered dietitian nutritionists. They deliver personalized nutrition counseling to change the way we think and feel about food, and all of the care is covered by insurance.
The company emerged from stealth recently after quietly raising $25 million in funding to tackle the emerging crisis stemming from food and our relationship with it. And a year after an unannounced seed round led by General Catalyst, Fay’s new $20 million Series A round was led by Forerunner Ventures with participation from General Catalyst and 1984. Fay is also backed by the founders of Grow Therapy and Maven Clinic.
With the nation’s largest and fastest-growing network of registered dietitians (RDs) in all 50 states, Fay plans to use the funding to further accelerate its growth and enhance its offerings for dietitians and their clients. Future growth plans include integrating with food service delivery platforms to address food insecurity, expanding insurance coverage, and enhancing partnerships with existing employer plans.
Fay’s services come at a pivotal point for the U.S. health landscape, where over half of U.S. adults struggle with diet-related chronic conditions, with many more in dire need of preventative care. Despite the need for intervention, there remains a lack of awareness about insurance coverage for medical nutrition therapy provided by RDs.
Most plans do not require a certain diagnosis or physician referral, and the benefits of nutrition counseling apply to prevention and management of health conditions. And the widespread use of GLP-1s has only added to the demand for RDs as many physicians see the long-term benefit of sustainable lifestyle changes paired with medications.
One of Fay’s biggest goals is to transform the American healthcare system from one that treats people when they are sick to one that acts proactively.
The company’s co-founders, Sammy Faycurry and Mark Stefanski, aim to develop a platform that would help individuals address the root cause of their health concerns. They view food as the cornerstone of improved quality of life and health.
With the nation’s largest network of RDs, Fay has been leading the charge toward proactive healthcare. With 1,000+ providers on the platform to date, Fay is projected to exceed 2,000 providers by 2025. And Fay dietitians cover over 30 specialties, like eating disorders, diabetes, kidney disease, weight management, gut health, general preventative care, and many more. This large and growing network ensures that individuals can receive tailored and expert care from qualified professionals.
Fay partnered with major health insurance providers, including United Healthcare, Aetna CVS, Blue Cross, Anthem, Cigna, Optum, and Humana, with others yet to be disclosed to democratize access to nutrition services for 100+ million Americans. And Fay also provides employees with a personal nutritionist and is included in employer health plans at Google and Accenture. This collaboration with insurance providers and employers ensures that most people pay $0 for the highest quality of nutrition education and lifestyle counseling.
Fay is also backed by Grow Therapy Founders Jake Cooper and Manoj Kanagaraj, who are pioneers in the MSO health services category for an analogous three-way marketplace for mental health therapists. And Fay continues to set the bar high in healthcare and food service innovation, making diet and nutrition care seamless, accessible, and affordable across America.
KEY QUOTES:
“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. 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.”
“Dietitians are empowered to build their private practice with Fay’s AI-powered business in a box handling the usual headaches of insurance reimbursements, marketing, and heavy admin tasks. Meanwhile, insurance companies benefit from partnering with high-quality clinicians who are dedicated to improving overall health outcomes. Fay is fostering a new era in healthcare where accessible and effective nutrition care benefits all parties involved.”
– Sam “Sammy” Faycurry, Founder and CEO of Fay
“With payors’ increasing interest in Food as Medicine and the increasingly evident link between diet and overall health, there couldn’t be a better time to elevate the role of food in healthcare.”
– Mark Stefanski
“Nutrition is a core part of our Health Assurance thesis given the vast surface area it touches. 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. 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 eat better and live longer.”
– Holly Maloney, Managing Director at General Catalyst and Fay Board Member
“America is clearly at a critical moment when it comes to nutrition and dietetics across culture, health, and public interest, with mounting research illustrating how weight and nutrition are acutely linked to chronic illness and growing consumer openness to rethink the relationship between food and health. Fay stood out as the company to partner in this space given their remarkable business momentum, product sophistication, and the caliber of the team. Their unique model not just empowers consumers to access registered dietitians at little to no cost through insurance, it empowers an often overlooked, lesser-served sector of healthcare providers to build and expand their businesses on their terms.”
– Nicole Johnson, Partner at Forerunner
