Industry News

David closes $75M funding round

The brand's flagship product, a bar with 28 g of protein, launched September 2024.

David, a snack brand that designs tools to increase muscle and decrease fat, has closed a $75 million Series A funding round, led by Greenoaks with the participation of Valor Equity Partners.

In September 2024, David launched and debuted its flagship product: a protein bar with 28 g of protein, zero sugar, and 150 calories. The brand has experienced growth over its first eight months of commercial operations, expanding into over 3,000 retail locations across the U.S., most recently entering Wegmans. The brand is on pace to surpass $100 million in revenue in its first year of operation.

“Our mission is simple: to remove unnecessary calories and sugar from the American diet and replace them with what the body actually needs, which is high-quality protein,” says Peter Rahal, co-founder and CEO. “We’re building tools that make it easier to eat well without compromise. The response to David has been overwhelming, and this funding allows us to scale faster and stay focused on our mission of providing solutions to support and improve people’s health and well-being.”

David will use the investment to scale manufacturing, accelerate product development, and expand inventory to meet surging demand across retail and e-commerce. As part of this growth strategy, the company has acquired Epogee, the food technology firm behind EPG, a plant-based fat alternative that aims to reduce calories and fat without compromising taste or texture.

“We are not here to make another snack. We are here to advance nutrition,” adds Rahal. “Acquiring Epogee strengthens our ability to scale by securing a key ingredient that helps us reduce calories and fat without compromising taste. This is about gaining control over our supply chain to move faster, stay true to our mission, and deliver food that improves health.”

“Consumers have historically had to make the choice between convenience, taste, and nutrition,” says Neil Shah, partner at Greenoaks. “We believe that David has created a product that breaks this tradeoff: delivering a high-protein and low-calorie bar that customers truly crave, which has led to some of the most enthusiastic customer feedback we’ve ever seen in CPG. We are proud to back Peter and his remarkable team, and we look forward to partnering with them as they transform nutrition.”

In August 2024, David closed a $10 million seed funding round. Notable investors include Dr. Layne Norton, Ph.D., Dr. Andrew Huberman, Ph.D., and Dr. Peter Attia, M.D., who serves as the brand’s chief science officer.