Function Health Secures $298 Million in Series B Funding, Valued at $2.5 Billion
In a significant move to enhance personal health management, Function Health has raised $298 million in Series B funding, led by Redpoint Ventures, bringing the company’s valuation to $2.5 billion. The funding round also attracted investments from notable entities such as a16z, Aglaé Ventures, Alumni Ventures, and even NBA athletes Allen Crabbe and Blake Griffin. With this latest influx of capital, Function has raised a total of $350 million to date.
Function Health addresses the growing challenge of managing health data generated from electronic health records, blood tests, and wearables. By aggregating this wealth of information, the company aims to empower users through its innovative AI model, which transforms raw data into actionable health insights. As part of this initiative, Function has launched its Medical Intelligence Lab, focusing on developing a generative AI model to deliver personalized health insights based on users’ unique data.
Key features of this new platform include an AI chatbot designed to respond to users’ health inquiries, leveraging historical lab results, doctor’s notes, and scans to provide tailored advice. Function Health emphasizes its commitment to data privacy, ensuring that user information is fully encrypted and never sold. Chief Medical Scientist Dr. Dan Sodickson and Co-founder and Chief Medical Officer Dr. Mark Hyman are leading the development of this initiative, ensuring a strong foundation rooted in medical expertise.
Function differentiates itself in a competitive landscape filled with platforms like Superpower and InsideTracker, by maintaining a device-agnostic approach. This allows for seamless integration of lab testing, diagnostic services, and clinical insights, enhancing the overall user experience. With 75 locations across the United States and plans to expand to nearly 200 by year-end, Function has conducted over 50 million lab tests since 2023, positioning itself as a leader in the health technology space.
