For years, Sammy Faycurry has been hearing from his registered dietitian (RD) mom and sister about the poor eating habits of many Americans and the challenges they face in delivering nutritional counselling. Despite nearly half of all adults in the country being affected by chronic conditions linked to unhealthy diets, health plans have a limited number of in-network registered dieticians.
Inspired by his family’s experiences, Faycurry decided to build a platform that would empower RDs, like his mom and sister, to start their own practices while being covered by insurance. In 2021, while pursuing his MBA at Harvard Business School, he began working on Fay, a startup that connects RDs with insurance providers and patients.
About a year into his bootstrapped effort, Faycurry asked Mark Stefanski to join him as a CTO. On Wednesday, Fay emerged from stealth after quietly raising $25 million from General Catalyst and Forerunner Ventures, with participation from 1984 and the founders of Grow Therapy and Maven Clinic.
Fay offers RDs a franchise model that has gained popularity among certain types of healthcare providers in recent years. The so-called “business-in-a-box” provides practitioners, such as dietitians and therapists, with the tools for running their practices, including filing claims with insurance, receiving payments, and being matched with patients.
“Insurance companies love it because their patients are getting healthier. And the dietitians love it because they can make almost five to eight times more money as independent practitioners with our platform than they earn in a hospital,” Faycurry told the sources.
By empowering RDs to start their own practices and connect with insurance providers and patients, Fay aims to address the challenges faced by nutritional counsellors and improve the overall health of Americans affected by diet-related chronic conditions.
