The company behind David Protein and the fledgling HallPass candy line has pulled in $250M at Series B. Greenoaks and Valor Equity Partners anchored the round, joined by chief executive Peter Rahal, ICONIQ and Imaginary Ventures.
Both firms previously backed David’s $75M Series A in 2025. The new capital is meant to keep a rocket-fueled retail expansion going: David launched direct-to-consumer in September 2024 with a single protein bar, and within two years pushed into frozen dessert and ready-to-drink shakes sold in more than 35,000 locations including Walmart, Target and Costco.
Medici says the brand is on track to surpass $300M in revenue in 2026, which would make it the fastest food company to reach that milestone. The portfolio now extends beyond protein with HallPass, a candy line that launched nationwide at Walmart in August.
Rahal, who previously built RXBAR and sold it to Kellogg, is applying the same formula of stripped-down ingredients and aggressive distribution to a family of better-for-you brands.
The raise is one of the largest consumer packaged goods rounds this year, a signal that venture investors still see upside in food startups that can demonstrate velocity with big-box retailers.
