Medici Brands, parent company of David Protein and confectionery brand HallPass, closed a $250 million Series B round co-led by Greenoaks and Valor Equity Partners as part of the Medici Brands Series B funding. David Protein was the major catalyst for the investment, with the brand's portfolio expanding into frozen desserts and ready-to-drink shakes, now sold in more than 35,000 retail locations and on track to surpass $300 million in 2026 revenue.
The funding will support HallPass' retail expansion following its August 2026 nationwide Walmart launch, as well as new David Protein formats and the upcoming launch of a third brand, Rowdy.
As better-for-you brands increasingly seek to build multi-brand platforms rather than single hero products, Medici's rapid growth signals how technology-enabled food companies are scaling reformulated classics into full retail portfolios.
Image Credit: Medici Brands
What's Driving This Trend
- Better-for-you Portfolios
- Multi-brand CPG platforms are turning single-product momentum into broader retail ecosystems built around reformulated snacks, desserts, and beverages.
- Protein-forward Formats
- Consumer demand for functional indulgence is reshaping familiar categories as protein-enhanced frozen desserts and ready-to-drink shakes move into mainstream shelves.
- Retail-led Brand Scaling
- Large funding rounds are accelerating nationwide distribution strategies where emerging food brands use mass retailers to validate and expand category reach.
Who This Affects Most
- Consumer Packaged Goods
- Technology-enabled food companies are creating new competitive pressure by combining rapid product development, brand incubation, and omnichannel distribution.
- Health and Wellness
- Better-for-you positioning is blurring the line between everyday treats and nutritional products, opening space for functional versions of conventional favorites.
- Food Retail
- National chains are becoming launch platforms for high-growth challenger brands seeking fast visibility, consumer data, and category disruption.
