Medici Brands Secures $250 Million in Series B Funding to Expand Innovative Food Brands

Medici Brands Secures $250 Million in Series B Funding

Medici Brands, known for its innovative food products, has successfully raised $250 million in Series B funding. This significant investment will help the company accelerate its growth and expand its portfolio, which includes David Protein and its newly launched confectionery brand, HallPass.

Funding Details

The recent funding round was co-led by existing investors Greenoaks and Valor Equity Partners, along with contributions from notable figures including CEO Peter Rahal, ICONIQ, and Imaginary Ventures. Greenoaks and Valor were also part of Medici's previous Series A funding, which raised $75 million in 2025 for David's expansion.

Rapid Growth of David Protein

Since launching its flagship protein bar in September 2024, which offers 28 grams of protein, 150 calories, and no sugar, David has expanded its offerings to include a variety of products such as frozen desserts and ready-to-drink shakes. Today, the brand is available in over 35,000 retail locations, including major retailers like Walmart, Target, and Costco. The impressive growth trajectory is set to push the company towards surpassing $300 million in revenue by the end of 2026, establishing it as one of the fastest-growing companies in the food sector.

Introducing HallPass

Alongside David, Medici has launched HallPass—a new confectionery brand aimed at providing the nostalgic taste of classic candies but with reduced calories and sugar. Launched nationally at Walmart in August 2026, HallPass products focus on delivering delicious sweets without the high-calorie and sugar content typically associated with traditional candies. The company plans to further innovate its offerings with a new brand, Rowdy, set to debut later this year.

Vision for Healthier Eating

Peter Rahal, the CEO of Medici Brands, emphasizes the mission to enhance public health by reinventing beloved foods. The goal is to create options that are not only healthier but also retain the taste consumers love without making compromises. This approach means that consumers can achieve better nutrition and healthier choices more intuitively by integrating such products into their diets.

Future Plans and Innovations

The newly raised capital is earmarked for various growth initiatives, including enhancing HallPass's retail presence and product range, scaling David Protein into new markets and formats, innovating new products, and building the necessary infrastructure to support the launch and expansion of new brands.

Neil Shah from Greenoaks praises David Protein for showing progress in merging great taste with nutritional values, marking it as one of the most rapidly climbing brands in the American consumer packaged goods space. He expresses excitement about expanding Medici's approach to other product categories under the premise that consumers deserve better options without compromise.

Valor Equity Partners' Jon Shulkin also shares confidence in Peter Rahal’s leadership and the potential of Medici Brands to redefine food products through technology and innovation, thereby creating a range of category-defining brands.

About Medici Brands

Medici Brands is committed to revolutionizing the food industry by rethinking traditional products. With a diverse portfolio featuring David Protein, HallPass, and Epogee, a plant-based fat substitute, Medici is at the forefront of creating delicious yet healthier food options.

Conclusion

In conclusion, Medici Brands' recent $250 million funding marks a significant milestone in its journey to reshape the food industry. By launching innovative products and prioritizing consumer health, Medici is poised to lead the way in making healthier eating more accessible and enjoyable.