Medici Brands Raises $250 Million in Series B Funding

Medici Brands, the parent company of David Protein and the newly launched confectionery brand HallPass, has successfully raised $250 million in a Series B financing round. The funding was co-led by Greenoaks and Valor Equity Partners, both of which had previously invested in Medici's $75 million Series A round in 2025. Additional participation came from CEO Peter Rahal, ICONIQ, and Imaginary Ventures. This financing, announced on September 2, 2026, is set to accelerate Medici's growth trajectory and expand its product portfolio.

Founded with a vision to innovate in the food sector, Medici Brands has rapidly gained traction since the launch of David Protein's flagship product—a high-protein bar introduced in September 2024. The brand has since diversified its offerings to include frozen desserts and ready-to-drink shakes, achieving a significant retail presence in over 35,000 locations, including major retailers like Walmart, Target, and Costco. The company is projected to surpass $300 million in revenue in 2026, marking it as one of the fastest-growing consumer packaged goods (CPG) brands in the United States.

The introduction of HallPass, which aims to provide classic candy flavors with reduced calories and sugar, further exemplifies Medici's strategy of catering to health-conscious consumers without sacrificing taste. By focusing on creating "smarter" food options, Medici Brands is positioning itself as a leader in the health-oriented food sector. The upcoming launch of its third brand, Rowdy, indicates the company's commitment to expanding its portfolio and reaching a broader audience.

The capital raised in this Series B round will be instrumental in supporting Medici's strategic initiatives, including the expansion of HallPass' retail presence, the development of new product formats under the David brand, and the infrastructure needed to scale new brands. The backing from seasoned investors like Greenoaks and Valor Equity Partners underscores the confidence in Medici's business model and its potential for long-term growth.

The successful fundraising round reflects broader trends in the food and beverage sector, where consumer preferences are increasingly shifting towards healthier options. As companies like Medici Brands innovate to meet these demands, the market is likely to see continued investment in health-focused food products. This trend not only presents opportunities for growth within the CPG space but also indicates a potential shift in how traditional food brands approach product development and consumer engagement in the coming years.