, /PRNewswire/ -- The Rise Fund, the multi-sector strategy of TPG's global impact investing platform, today announced it has signed definitive documentation to lead an investment of over in Foodsmart, the leading telenutrition provider and food benefits management platform in the US. Terms of the transaction were not disclosed. Founded in 2010, Foodsmart supports those facing chronic disease and food insecurity by partnering with health plans and providers to give patients access to personalized and affordable healthy eating options.
Foodsmart combines virtual nutrition counseling through the largest standalone network of Registered Dietitians in the US, with an integrated digital food benefits management platform through which patients can plan personalized healthy meals, order quality food through grocers nationwide and local medically tailored food partners, apply for SNAP benefits, and learn ways to buy good food affordably. Today, the Company serves over 2.2 million members through contracts with leading regional and national Medicaid Managed Care Organizations, Medicare Advantage plans, commercial insurers, and over one thousand employers.
"We are excited to partner with TPG's Rise Fund given their strong track record scaling the reach of organizations that create sustained impact for people of all income levels–including Medicaid members and blue collar workers," said , MD, MPH, the CEO and Founder of Foodsmart. "We support all people, regardless of economic status, .
