Total amount raised
$43.1 Millions
Latest funding date
Location
Nourish has successfully raised funds through a Series A round, with a total of 9 investors backing the company, including Maverick Ventures and Y Combinator.
The platform offers a telehealth service that connects users with registered dietitians, covered by insurance, making it accessible and affordable for many. Keep reading to explore the intricacies of Nourish's fundraising journey and the investors backing this innovative platform.
What Is Nourish?
Nourish, founded in 2021, is a telenutrition platform based in Austin, Texas. The company connects users with registered dietitians covered by insurance, aiming to make clinical-grade nutrition care accessible and affordable.
Founded by Aidan Dewar, Sam Perkins, and Stephanie Liu, Nourish leverages a virtual network of dietitians to help people improve their health through personalized nutrition counseling.
With a team of 101-250 employees, Nourish operates across all 50 states, ensuring that users can easily access dietitian services regardless of their location.
How Much Funding Has Nourish Raised?
- Pre-Seed Round
- Amount Raised: $125,000
- Date: April 2021
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial platform and begin connecting users with registered dietitians.
- Seed Round
- Amount Raised: $8,000,000
- Date: February 2023
- Lead Investors: Thrive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: $35,000,000
- Date: March 2024
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate platform development, expand the network of dietitians, and deepen strategic partnerships with insurance companies.
Total Amount Raised: $43,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They have a history of partnering with game-changing founders and pursuing far-reaching market opportunities.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Dropbox, Slack, Robinhood.
- Thrive Capital
- Details: Thrive Capital is a venture capital firm that focuses on building and investing in internet and software investments. They have a reputation for backing innovative and high-growth companies.
- Investment Focus Areas: Internet, software, technology-driven companies.
- Notable Investments: Instagram, GitHub, Warby Parker.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have funded many successful companies since their inception.
- Investment Focus Areas: Early-stage startups, technology, healthcare.
- Notable Investments: Airbnb, Stripe, Reddit.
- Maverick Ventures
- Details: Maverick Ventures is a venture capital firm that invests in innovative companies across various sectors. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Healthcare, technology, high-growth companies.
- Notable Investments: Lyft, Allbirds, Hims & Hers.
- TCV (Technology Crossover Ventures)
- Details: TCV is a private equity and venture capital firm that invests in technology companies. They support companies at various stages of growth.
- Investment Focus Areas: Internet, software, financial technology.
- Notable Investments: Netflix, Facebook, Spotify.
What's Next for Nourish?
With the recent $35 million Series A funding, Nourish is poised to seize significant opportunities in the telenutrition space. The company plans to expand its network of registered dietitians to over 1,000 by the end of the year, leveraging AI-powered tools to enhance patient personalization and streamline administrative workflows. This expansion aims to address the needs of 150 million Americans struggling with nutrition-related chronic diseases, making clinical-grade nutrition care accessible and affordable.
Future fundraising opportunities appear promising as Nourish continues to scale its platform and deepen strategic partnerships with insurance companies. However, challenges such as ensuring the scalability of its platform while maintaining high-quality care and navigating the complexities of insurance partnerships may arise. As the demand for personalized nutrition and telehealth services grows, Nourish's ability to adapt and innovate will be crucial for its sustained success.
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