diff --git a/homeassistant/components/fastdotcom/__init__.py b/homeassistant/components/fastdotcom/__init__.py
index 2fe5b3ccafc..e872c3f501d 100644
--- a/homeassistant/components/fastdotcom/__init__.py
+++ b/homeassistant/components/fastdotcom/__init__.py
@@ -1,22 +1,18 @@
 """Support for testing internet speed via Fast.com."""
 from __future__ import annotations
 
-from datetime import datetime, timedelta
 import logging
-from typing import Any
 
-from fastdotcom import fast_com
 import voluptuous as vol
 
 from homeassistant.config_entries import SOURCE_IMPORT, ConfigEntry
-from homeassistant.const import CONF_SCAN_INTERVAL
-from homeassistant.core import HomeAssistant, ServiceCall
+from homeassistant.const import CONF_SCAN_INTERVAL, EVENT_HOMEASSISTANT_STARTED
+from homeassistant.core import CoreState, Event, HomeAssistant
 import homeassistant.helpers.config_validation as cv
-from homeassistant.helpers.dispatcher import dispatcher_send
-from homeassistant.helpers.event import async_track_time_interval
 from homeassistant.helpers.typing import ConfigType
 
-from .const import CONF_MANUAL, DATA_UPDATED, DEFAULT_INTERVAL, DOMAIN, PLATFORMS
+from .const import CONF_MANUAL, DEFAULT_INTERVAL, DOMAIN, PLATFORMS
+from .coordinator import FastdotcomDataUpdateCoordindator
 
 _LOGGER = logging.getLogger(__name__)
 
@@ -48,21 +44,20 @@ async def async_setup_platform(hass: HomeAssistant, config: ConfigType) -> bool:
 
 
 async def async_setup_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
-    """Set up the Fast.com component."""
-    data = hass.data[DOMAIN] = SpeedtestData(hass)
+    """Set up Fast.com from a config entry."""
+    coordinator = FastdotcomDataUpdateCoordindator(hass)
 
-    entry.async_on_unload(
-        async_track_time_interval(hass, data.update, timedelta(hours=DEFAULT_INTERVAL))
-    )
-    # Run an initial update to get a starting state
-    await data.update()
+    async def _request_refresh(event: Event) -> None:
+        """Request a refresh."""
+        await coordinator.async_request_refresh()
 
-    async def update(service_call: ServiceCall | None = None) -> None:
-        """Service call to manually update the data."""
-        await data.update()
-
-    hass.services.async_register(DOMAIN, "speedtest", update)
+    if hass.state == CoreState.running:
+        await coordinator.async_config_entry_first_refresh()
+    else:
+        # Don't start the speedtest when HA is starting up
+        hass.bus.async_listen_once(EVENT_HOMEASSISTANT_STARTED, _request_refresh)
 
+    hass.data.setdefault(DOMAIN, {})[entry.entry_id] = coordinator
     await hass.config_entries.async_forward_entry_setups(
         entry,
         PLATFORMS,
@@ -73,23 +68,7 @@ async def async_setup_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
 
 async def async_unload_entry(hass: HomeAssistant, entry: ConfigEntry) -> bool:
     """Unload Fast.com config entry."""
+    hass.services.async_remove(DOMAIN, "speedtest")
     if unload_ok := await hass.config_entries.async_unload_platforms(entry, PLATFORMS):
-        hass.data.pop(DOMAIN)
+        hass.data[DOMAIN].pop(entry.entry_id)
     return unload_ok
-
-
-class SpeedtestData:
-    """Get the latest data from Fast.com."""
-
-    def __init__(self, hass: HomeAssistant) -> None:
-        """Initialize the data object."""
-        self.data: dict[str, Any] | None = None
-        self._hass = hass
-
-    async def update(self, now: datetime | None = None) -> None:
-        """Get the latest data from fast.com."""
-        _LOGGER.debug("Executing Fast.com speedtest")
-        fast_com_data = await self._hass.async_add_executor_job(fast_com)
-        self.data = {"download": fast_com_data}
-        _LOGGER.debug("Fast.com speedtest finished, with mbit/s: %s", fast_com_data)
-        dispatcher_send(self._hass, DATA_UPDATED)
diff --git a/homeassistant/components/fastdotcom/coordinator.py b/homeassistant/components/fastdotcom/coordinator.py
new file mode 100644
index 00000000000..692a85d2eda
--- /dev/null
+++ b/homeassistant/components/fastdotcom/coordinator.py
@@ -0,0 +1,31 @@
+"""DataUpdateCoordinator for the Fast.com integration."""
+from __future__ import annotations
+
+from datetime import timedelta
+
+from fastdotcom import fast_com
+
+from homeassistant.core import HomeAssistant
+from homeassistant.helpers.update_coordinator import DataUpdateCoordinator, UpdateFailed
+
+from .const import DEFAULT_INTERVAL, DOMAIN, LOGGER
+
+
+class FastdotcomDataUpdateCoordindator(DataUpdateCoordinator[float]):
+    """Class to manage fetching Fast.com data API."""
+
+    def __init__(self, hass: HomeAssistant) -> None:
+        """Initialize the coordinator for Fast.com."""
+        super().__init__(
+            hass,
+            LOGGER,
+            name=DOMAIN,
+            update_interval=timedelta(hours=DEFAULT_INTERVAL),
+        )
+
+    async def _async_update_data(self) -> float:
+        """Run an executor job to retrieve Fast.com data."""
+        try:
+            return await self.hass.async_add_executor_job(fast_com)
+        except Exception as exc:
+            raise UpdateFailed(f"Error communicating with Fast.com: {exc}") from exc
diff --git a/homeassistant/components/fastdotcom/sensor.py b/homeassistant/components/fastdotcom/sensor.py
index 939ab4a40e5..b82b20defb5 100644
--- a/homeassistant/components/fastdotcom/sensor.py
+++ b/homeassistant/components/fastdotcom/sensor.py
@@ -1,8 +1,6 @@
 """Support for Fast.com internet speed testing sensor."""
 from __future__ import annotations
 
-from typing import Any
-
 from homeassistant.components.sensor import (
     SensorDeviceClass,
     SensorEntity,
@@ -10,12 +8,12 @@ from homeassistant.components.sensor import (
 )
 from homeassistant.config_entries import ConfigEntry
 from homeassistant.const import UnitOfDataRate
-from homeassistant.core import HomeAssistant, callback
-from homeassistant.helpers.dispatcher import async_dispatcher_connect
+from homeassistant.core import HomeAssistant
 from homeassistant.helpers.entity_platform import AddEntitiesCallback
-from homeassistant.helpers.restore_state import RestoreEntity
+from homeassistant.helpers.update_coordinator import CoordinatorEntity
 
-from .const import DATA_UPDATED, DOMAIN
+from .const import DOMAIN
+from .coordinator import FastdotcomDataUpdateCoordindator
 
 
 async def async_setup_entry(
@@ -24,11 +22,13 @@ async def async_setup_entry(
     async_add_entities: AddEntitiesCallback,
 ) -> None:
     """Set up the Fast.com sensor."""
-    async_add_entities([SpeedtestSensor(entry.entry_id, hass.data[DOMAIN])])
+    coordinator: FastdotcomDataUpdateCoordindator = hass.data[DOMAIN][entry.entry_id]
+    async_add_entities([SpeedtestSensor(entry.entry_id, coordinator)])
 
 
-# pylint: disable-next=hass-invalid-inheritance # needs fixing
-class SpeedtestSensor(RestoreEntity, SensorEntity):
+class SpeedtestSensor(
+    CoordinatorEntity[FastdotcomDataUpdateCoordindator], SensorEntity
+):
     """Implementation of a Fast.com sensor."""
 
     _attr_name = "Fast.com Download"
@@ -38,31 +38,16 @@ class SpeedtestSensor(RestoreEntity, SensorEntity):
     _attr_icon = "mdi:speedometer"
     _attr_should_poll = False
 
-    def __init__(self, entry_id: str, speedtest_data: dict[str, Any]) -> None:
+    def __init__(
+        self, entry_id: str, coordinator: FastdotcomDataUpdateCoordindator
+    ) -> None:
         """Initialize the sensor."""
-        self._speedtest_data = speedtest_data
+        super().__init__(coordinator)
         self._attr_unique_id = entry_id
 
-    async def async_added_to_hass(self) -> None:
-        """Handle entity which will be added."""
-        await super().async_added_to_hass()
-
-        self.async_on_remove(
-            async_dispatcher_connect(
-                self.hass, DATA_UPDATED, self._schedule_immediate_update
-            )
-        )
-
-        if not (state := await self.async_get_last_state()):
-            return
-        self._attr_native_value = state.state
-
-    def update(self) -> None:
-        """Get the latest data and update the states."""
-        if (data := self._speedtest_data.data) is None:  # type: ignore[attr-defined]
-            return
-        self._attr_native_value = data["download"]
-
-    @callback
-    def _schedule_immediate_update(self) -> None:
-        self.async_schedule_update_ha_state(True)
+    @property
+    def native_value(
+        self,
+    ) -> float:
+        """Return the state of the sensor."""
+        return self.coordinator.data
diff --git a/tests/components/fastdotcom/test_config_flow.py b/tests/components/fastdotcom/test_config_flow.py
index 4314a7688d8..17e75935dae 100644
--- a/tests/components/fastdotcom/test_config_flow.py
+++ b/tests/components/fastdotcom/test_config_flow.py
@@ -57,10 +57,7 @@ async def test_single_instance_allowed(
 
 async def test_import_flow_success(hass: HomeAssistant) -> None:
     """Test import flow."""
-    with patch(
-        "homeassistant.components.fastdotcom.__init__.SpeedtestData",
-        return_value={"download": "50"},
-    ), patch("homeassistant.components.fastdotcom.sensor.SpeedtestSensor"):
+    with patch("homeassistant.components.fastdotcom.coordinator.fast_com"):
         result = await hass.config_entries.flow.async_init(
             DOMAIN,
             context={"source": config_entries.SOURCE_IMPORT},
diff --git a/tests/components/fastdotcom/test_coordinator.py b/tests/components/fastdotcom/test_coordinator.py
new file mode 100644
index 00000000000..254301950fb
--- /dev/null
+++ b/tests/components/fastdotcom/test_coordinator.py
@@ -0,0 +1,54 @@
+"""Test the FastdotcomDataUpdateCoordindator."""
+from datetime import timedelta
+from unittest.mock import patch
+
+from freezegun.api import FrozenDateTimeFactory
+
+from homeassistant.components.fastdotcom.const import DOMAIN
+from homeassistant.components.fastdotcom.coordinator import DEFAULT_INTERVAL
+from homeassistant.const import STATE_UNAVAILABLE
+from homeassistant.core import HomeAssistant
+
+from tests.common import MockConfigEntry, async_fire_time_changed
+
+
+async def test_fastdotcom_data_update_coordinator(
+    hass: HomeAssistant, freezer: FrozenDateTimeFactory
+) -> None:
+    """Test the update coordinator."""
+    config_entry = MockConfigEntry(
+        domain=DOMAIN,
+        unique_id="UNIQUE_TEST_ID",
+    )
+    config_entry.add_to_hass(hass)
+
+    with patch(
+        "homeassistant.components.fastdotcom.coordinator.fast_com", return_value=5.0
+    ):
+        await hass.config_entries.async_setup(config_entry.entry_id)
+        await hass.async_block_till_done()
+
+    state = hass.states.get("sensor.fast_com_download")
+    assert state is not None
+    assert state.state == "5.0"
+
+    with patch(
+        "homeassistant.components.fastdotcom.coordinator.fast_com", return_value=10.0
+    ):
+        freezer.tick(timedelta(hours=DEFAULT_INTERVAL))
+        async_fire_time_changed(hass)
+        await hass.async_block_till_done()
+
+    state = hass.states.get("sensor.fast_com_download")
+    assert state.state == "10.0"
+
+    with patch(
+        "homeassistant.components.fastdotcom.coordinator.fast_com",
+        side_effect=Exception("Test error"),
+    ):
+        freezer.tick(timedelta(hours=DEFAULT_INTERVAL))
+        async_fire_time_changed(hass)
+        await hass.async_block_till_done()
+
+    state = hass.states.get("sensor.fast_com_download")
+    assert state.state is STATE_UNAVAILABLE