TPG’s The Rise Fund introduced the signing of ultimate paperwork to speculate greater than $200 million in distance vitamin platform Foodsmart.
Rise Fund is TPG’s world influence funding platform. It was based by TPG in 2016 in partnership with U2 frontman Bono and Canadian engineer Jeff Skoll, who’s TPG’s first president. eBay is a billionaire web entrepreneur and movie producer.
what it may well do
Foodsmart, also referred to as Foodcare, companions with well being plans and employers to offer Medicaid and Medicare members, employers and industrial well being plan members with digital entry to a community of registered dietitians.
The California-based firm additionally gives a digital meals advantages administration platform that permits people to plan meals, order groceries from grocery shops and apply for SNAP advantages.
The corporate mentioned it really works with Medicaid managed care organizations, Medicare Benefit plans and greater than 1,000 employers. It additionally works with industrial insurance coverage firms together with Intermountain Well being, Memorial Hermann Well being System and Advocate Well being.
“We’re excited to accomplice with TPG’s Rise Fund due to their confirmed monitor file of increasing the influence of organizations that serve all revenue earners, together with Medicaid members and blue-collar staff,” mentioned Dr. Jason Langheier, CEO and Founding father of TPG. Degree individuals create lasting influence.
market Overview
Different firms tackling meals insecurity within the U.S. embrace tech meals supply firms Farmbox, launched the FarmboxRx feed final 12 months. This app-based program gives produce and meals staples to people affected by SNAP profit cuts.
Earlier this 12 months, meal supply providers A maternal well being program was launched to offer meals and vitamin training to high-risk pregnant ladies throughout and after being pregnant.
2022, Instacart Launched wellness division Instacart Well being, initially providing merchandise targeted on nutritious meals. The corporate builds strategic partnerships and advocates for meals insurance policies, resembling increasing on-line entry to EBT SNAP and TANF help packages.
In 2023, it expanded its well being sector to incorporate Earlier this 12 months, it partnered with Denver-based residence care supplier DispatchHealth to offer Dispatch’s residence care professionals with instruments to prescribe meals to sufferers utilizing Instacart Well being.
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