-20%

est. 2Y upside i

HealthcareSeries B

Founded in 2022, Fay helps people improve their health and wellbeing through food and their relationship with it. The insurance-friendly nutrition therapy support platform offers virtual or in-person access to the right RD for individuals’ unique goals and circumstances, with most people paying $0 out-of-pocket.

Rank

#612

Sector

Healthcare Technology

Est. Liquidity

~3Y

Data Quality

Data: High

Fay presents a moderate upside opportunity for a job seeker.

Last updated: March 10, 2026

Bull (35%)+250%

Fay significantly expands its network of dietitians and insurance partnerships, leveraging its AI platform to capture a leading share of the growing personalized nutrition market. Revenue scales to $200M+ by 2028, justifying a $1.75B valuation at a healthy multiple, driven by strong outcomes and cost savings for payers.

Base (45%)+75%

Fay maintains its strong growth trajectory, competing effectively against rivals like Nourish and Berry Street. Revenue reaches $100M-$120M by 2028, leading to an acquisition or IPO at a valuation of $875M, representing solid but not explosive returns.

Bear (20%)-65%

Increased competition, slower-than-expected market adoption, or regulatory headwinds hinder Fay's growth. Revenue stalls below $70M, leading to a down round or acquisition at a significantly reduced valuation of $175M, resulting in substantial loss of common stock value due to liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Funding Intensity

15%

Investors hold $75M in liquidation preferences ahead of common shareholders, representing 15.0% of the current valuation.

Dilution Risk

moderate

As a Series B company, Fay will likely need at least one more significant funding round (Series C or D) before a potential liquidity event, which will lead to further dilution for common shareholders.

Secondary Liquidity

none

There is no publicly known active secondary market or tender offers for Fay's equity.

Other — 8 roles

View all 8 open roles at Fay →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Fay's data — designed to show you've done your homework.

  • 1

    “Given the intense competition from companies like Nourish and Berry Street, how does Fay plan to further differentiate its offering and maintain its market leadership in the next 2-3 years?”

  • 2

    “With $50M in revenue and a $3.7B SAM, what are the key strategic initiatives Fay is pursuing to accelerate market penetration and achieve its next revenue milestones, particularly in light of new CMS models like ACCESS?”

  • 3

    “As a Series B company, what is the anticipated timeline for a liquidity event (IPO or acquisition), and how is the company thinking about managing potential employee equity dilution in future funding rounds?”

Community

Valuation Sentiment

Our model estimates -20% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.