-5%

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

#2423

Sector

Digital Health

Est. Liquidity

~3Y

Data Quality

Data: Medium

Fay's equity is high-risk with a projected expected downside of -5.27% over 2 years.

Last updated: July 3, 2026

Bull (10%)+126%

IPO window opens and category leadership drives exit multiple to 8x on $154M revenue, yielding $1.23B exit. Upside net of 20% dilution is 126.4%.

Base (45%)+19%

Exit multiple converges to public comp midpoint of 4.5x, valuing the company at $693M. After 20% dilution, upside is 18.6%.

Bear (45%)-58%

Competition and legal issues compress multiple to 2x, resulting in $308M exit. After 20% dilution and preference overhang, downside is -58.4%.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Funding Intensity

1500%

Total preferred liquidation preference of $75M (15% of valuation) provides moderate overhang.

Dilution Risk

high

Given Series B was closed 17 months ago, a new round within 24 months is likely, diluting common stock by ~20%.

Secondary Liquidity

none

No secondary market activity noted; equity is illiquid.

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

    “How does Fay differentiate from incumbents like Teladoc and Omada in provider network and insurance integration?”

  • 2

    “What are the current gross margins and unit economics of the marketplace?”

  • 3

    “How does the class action lawsuit impact growth and fundraising prospects?”

Community

Valuation Sentiment

Our model estimates -5% 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.