MedCity News July 3, 2024
The Rise Fund will lead a $200 million investment in Foodsmart. The funding will help the telenutrition company scale its business.
In 2022, 12.8% of U.S. households were food insecure. Foodsmart, a telenutrition and food benefits management platform, aims to address this after announcing last week that the Rise Fund has signed a definitive agreement to lead a $200 million investment in the company.
The fund was created in 2016 by TPG, a global alternative asset management firm, in partnership with Bono and Jeff Skoll. Terms of the transaction were not disclosed.
San Francisco-based Foodsmart, founded in 2010, cares for patients with chronic diseases and food insecurity. Patients get access to a national network of registered dietitians. They can also...
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