The Company Behind David Protein Just Reached a $2.25 Billion Valuation. Now It’s Betting on Chips

Medici Brands is expanding David and HallPass while building the infrastructure needed to launch and scale a new venture.

Photos: Courtesy Medici Brands

The founder behind one of the biggest protein bar success stories is launching his next act.

This week, Medici Brands, the parent company behind protein brand David and newly launched candy brand HallPass, announced that it raised $250 million in a Series B funding round co-led by Greenoaks and Valor Equity Partners, with participation from co-CEO Peter Rahal, ICONIQ, and Imaginary Ventures. Both Valor and Greenoaks previously backed David’s $75 million Series A in 2025.

In an email to Inc., Rahal said that Medici is now valued at $2.25 billion.

We believe Medici is building the first technology-enabled

“We believe Medici is building the first technology-enabled platform in food, and we are proud to deepen our partnership with Peter and the Medici team,” Neil Shah, partner at Greenoaks said in a statement.

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Alongside the funding announcement, the company also revealed a new venture called Rowdy.

This comes as a lawsuit, which was filed in California court last month, claims David Protein’s “packaging, labeling, and marketing” of its flagship protein bars is deceptive.

Robert Freund, a Los Angeles-based advertising and e-commerce attorney, previously told Inc. that lawsuits like this one tend to follow the same brands drawing the most attention and funding. “Food and beverage is a hotbed area for consumer litigation, especially for high-growth brands with attention-grabbing headlines about investments and fundraising,” he said.

Source: www.inc.com