The company targets the millions of U.S. adults who suffer from diet-related chronic diseases and those in need of preventive care.
Although longevity research and development continues to advance, dietary changes remain one of the few interventions proven to positively impact healthspan and longevity. With more than half of U.S. adults suffering from diet-related chronic diseases, nutrition-focused startup Fay raises $25 million in funding to address the root causes of multiple health issues through diet. and emerged from stealth.
Founded in 2022 by Sammy Fakery and Mark Stefanski, Fay is dedicated to improving health and well-being through accessible, insurance-compatible nutritional therapies. Despite the proven benefits of nutritional counseling, the company claims there is a lack of awareness about insurance coverage for such services. Fay connects people with registered dietitian nutritionists for individual counseling that is fully covered by their insurance plan.
“For too long, access to food and nutritional care has been closed off by prohibitively high costs and a lack of access to RDs who accept insurance,” Faikaly said. “Faye was born out of the belief that everyone deserves professional care, making life-changing nutritional counseling easily and conveniently accessible to the majority of Americans.”
The platform offers virtual or in-person consultations with nutritionists tailored to individual needs, and Fay claims most users will not incur any out-of-pocket costs. The company also supports dietitians with its “Business in a Box” solution, which provides insurance eligibility verification and customer connectivity tools.
“Nutritionists can leverage Fay’s AI-powered business to build their private practice within the box that handles the usual headaches of insurance reimbursement, marketing, and administrative heavy lifting.” Fakery added. “Insurance companies, on the other hand, benefit from partnering with high-quality clinicians who are dedicated to improving overall health.”
Fay’s network, which the company claims is the largest and fastest growing in the U.S., spans all 50 states and includes more than 1,000 participating providers, with plans to double by 2025. The network covers more than 30 specialties, including diabetes, kidney disease, weight management, and nutritional management. and preventive care.
Fay aims to work with major health insurance companies to provide more than 100 million Americans with democratic access to nutrition services. The company says the service is also included in employer health plans at companies like Google and Accenture, which provide employees with a personal nutritionist for free.
“With payers becoming more interested in food as medicine and the link between diet and overall health becoming increasingly clear, there has never been a better time to elevate the role of food in medicine.” Stephan Mr. Ski said.
The company’s total funding includes a recent $20 million Series A round led by Forerunner Ventures, following a previous seed round led by General Catalyst. Fay plans to use this new investment to enhance its services, expand insurance coverage, integrate with food service delivery platforms to combat food insecurity, and strengthen partnerships with employer health plans.
General Catalyst’s Holly Maloney said: “So many people have a broken relationship with food, which can often lead to costly health complications, and nutrition is an important part of managing chronic disease. and is often an important factor in recovery.” “Fay has grown rapidly to build a strong value proposition for both dietitians and patients. We support our team as we expand our mission to help people eat better and live longer. I’m excited to continue.”
“America is clearly at a critical moment in nutrition and dietetics across culture, health, and the public interest, with a growing body of research showing how weight and nutrition are deeply linked to chronic disease, and a growing body of research showing how weight and nutrition are deeply linked to chronic disease. There is a growing openness among consumers to rethink their relationship with health,” said Forerunner’s Nicole Johnson. “[Fay’s] This unique model not only allows consumers to access a registered dietitian through insurance at little to no cost, but also allows an often overlooked and underserved sector of healthcare providers to It allows us to build and grow our business on our own terms. ”
