Function Health, a startup that offers lab testing and body scans for early disease detection, scored nearly $300 million in series B funding, boosting its valuation to $2.5 billion.
Redpoint Ventures led the $298 million round, which the company said was oversubscribed. Function Health, which launched in 2023, is backed by a long list of VC and celebrity investors including Nat Friedman and Daniel Gross' NFDG, a16z, Aglaé Ventures, Alumni Ventures, NBA's Allen Crabbe, WNBA's Breanna Stewart, Magic Johnson, Matt Damon, Olympic gold medalist Ryan Murphy, Superhuman's founder Rahul Vohra and Zac Efron, just to name a few.
The company previously raised $53 million in funding.
Function Health offers a membership-based platform that gives consumers access to more than 160 biomarker lab tests that assess heart function, hormones, thyroid, nutrients, cancer signals, immunity, aging factors and autoimmunity. The company claims its testing service comprises six times more lab testing than most primary care providers. The company also partners with Grail to offer members its Galleri multi-cancer early detection test that screens for multiple cancers.
In May, the startup acquired Ezra to add artificial-intelligence-powered full-body scans, combining two emerging health trends into one company.
Along with the funding, Function Health also announced it lowered its membership price to $365 a year, down from $499.
Since launching in beta in mid-2023, Function says it has completed over 50 million lab tests. Function Health co-founder and Chief Medical Officer Mark Hyman is a doctor, author and a longtime friend of Robert F. Kennedy Jr., who serves as HHS Secretary in the Trump administration.
As a personal health platform, Function Health's vision from the start was to offer a 360-degree perspective of an individual’s health, said Jonathan Swerdlin, co-founder and CEO of Function Health, in an interview with Fierce Healthcare back in May.
“It's really important that somebody fully understand what's happening in their body continuously throughout their lifetime so they can be ahead of any issues as well as make sure that they feel their best doing things in their life that's in service of their health,” he said.
Investors contend that Function, with lab testing and full-body scans, is building the "future of preventative health care."
"Function is building the intelligence layer for human health," said Daisy Wolf, Investing Partner at Andreessen Horowitz and board member at Function. "This is where technology, data, and medicine converge—turning years of fragmented health information into clarity and action. Function isn't just leading a new category in health; it's setting the standard for how we understand, manage, and ultimately extend human health."
The startup is using the fresh funding to develop AI capabilities. It developed what it calls a Medical IntelligenceLab, a generative AI model that can provide users with personalized health insights based on their data, including lab testing, imaging, wearables, IoT devices, and medical records.
The MI Lab, co-directed by Function's Chief Medical Scientist, Dan Sodickson, M.D., Ph.D., connects otherwise fragmented data and is designed to "spot early warning signals, continuously update insights with the latest research, and transform previously invisible patterns into meaningful action," the company said in a press release.
Function members now get access to an AI chatbot that can answer questions based on their health data, as well as protocols that translate health data into easy-to-understand steps members can put into practice to improve their health. These AI tools can also assess members' previous lab test results and visit notes for more tailored guidance.
"We've spent decades waiting until people are sick to act," Sodickson said in a statement. "Function changes that. Medical Intelligence connects important signals—from blood to imaging to wearables—creating a continuously learning model of your health. It's not AI replacing doctors; it's clinical expertise amplified by intelligent systems that never stop learning."