Function Health, a pioneering health technology company dedicated to transforming how individuals manage their well-being, has successfully closed a $298 million Series B funding round. Led by Redpoint Ventures, this significant investment values the company at $2.5 billion and brings its total capital raised to $350 million. The fresh capital will accelerate Function Health's mission to consolidate diverse health data and leverage artificial intelligence to provide personalized, actionable health insights.
In an era where individuals generate vast amounts of health information – from electronic health records and blood tests to wearable device data – many struggle to connect these disparate data points meaningfully. Function Health addresses this challenge by offering a regular lab testing service that consolidates personal health data, making it usable and actionable for its customers through an advanced AI model.
The Series B round saw robust participation from a diverse group of investors, including prominent venture capital firms a16z, Aglaé Ventures, Alumni Ventures, and Battery Ventures. Notable individual and firm investors also joined, such as NBA athletes Allen Crabbe, Blake Griffin, and Taylor Griffin, Nat Friedman and Daniel Gross’s investment firm NFDG, and Roku founder Anthony Wood.
Introducing the Medical Intelligence Lab
Coinciding with the funding announcement, Function Health unveiled its Medical Intelligence Lab (MI Lab). This initiative is dedicated to building a "medical intelligence" generative AI model designed to deliver highly personalized health insights based on users’ data, content, and research. The company emphasizes that this sophisticated model is rigorously trained by medical doctors. For its members, Function Health offers an AI chatbot capable of answering health-related questions by tapping into their previous lab results, doctor’s notes, and scans to provide tailored guidance.
“It is not good enough to be in a world where AI exists and not be applying it to your health,” Jonathan Swerdlin, CEO and co-founder of Function Health, told TechCrunch. “You should be able to manage your biology. The objective of Function Health is to apply the best available technology to human health.”
Swerdlin also underscored the platform’s commitment to user privacy and data security, stating that Function Health meets HIPAA standards, fully encrypts user data, and never sells personal information. “Your data and your identity are never for sale. Every bit of your information is fully encrypted and protected. We are committed to keeping you, and your data, safe,” he affirmed. The development of the MI Lab is jointly led by Function’s chief medical scientist, Dr. Dan Sodickson, and its co-founder and chief medical officer, Dr. Mark Hyman, alongside a dedicated team of doctors, researchers, and engineers.
Differentiating in the Health Tech Landscape
Function Health distinguishes itself in a crowded market, which includes competitors like Superpower, Neko Health, and InsideTracker, through its device-agnostic approach. Swerdlin noted that the platform integrates lab testing, diagnostics, and clinical insights to offer a more comprehensive solution than typical AI coaches or wellness apps. The company currently operates 75 locations across the U.S. and aims to expand to nearly 200 by the end of the year. Since 2023, Function Health reports having completed over 50 million lab tests.
