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- Function Health
Function Health Valuation, Funding & Investors
Function Health is valued at $2.5B as of November 2025.
Last Function Health valuation
$2.5B
Series B · Nov 2025
Last Function Health funding round
$298M
Series B · Nov 2025
Cumulative funding Function Health raised
$354M
across 3 funding rounds
Key investors in Function Health
Andreessen Horowitz
Redpoint
Spacecadet Ventures
About Function Health
Function Health is a San Francisco-headquartered health platform that conducts at-home lab tests covering biomarkers for heart function, thyroid activity, hormones, liver enzymes, cancer signals, and metabolic health. The service delivers detailed reports with clinician-reviewed insights and personalized recommendations for preventive care. Customers access testing kits shipped directly to their homes, processed through major diagnostic labs. Launched in 2023, the platform emphasizes longevity and early detection for everyday health optimization.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$2.5B (Nov 2025)
Function Health Valuation
Function Health is currently valued at $2.5B, based on its Series B in November 2025.
The $298M round was led by Redpoint.
Function Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2025 | Series B | $2.5B |
Function Health Funding History
Function Health has raised a total of $354M across 3 funding rounds.
Function Health's first fundraising round was a $3M seed round in March 2022. The most recent completed round was a $298M Series B in November 2025.
Function Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Series B | Redpoint (lead) | $298M | $2.5B | Function Health is a longevity-focused telehealth platform offering comprehensive lab testing (over 100 tests), AI-powered health insights, advanced MRI screening via Function Scans, and integration of wearables and medical records to enable proactive health management and early disease detection for conditions like cancer, heart disease, and diabetes. Co-founded by Dr. Mark Hyman and CEO Jonathan Swerdlin, it launched in beta in 2023, acquired Ezra in May 2025 for full-body MRI capabilities, and has processed over 50 million lab tests across 2,000 Quest Diagnostics sites with MRI services at 130 locations expanding to 200 by end-2025. On November 19, 2025, Function Health raised an oversubscribed $298 million Series B round led by Redpoint Ventures at a $2.5 billion post-money valuation, bringing total funding to $350 million. The round attracted investors including a16z, Aglaé Ventures, Battery Ventures, NFDG (Nat Friedman and Daniel Gross), Alumni Ventures, Roku founder Anthony Wood, and celebrities/athletes like Matt Damon, Magic Johnson, Zac Efron, Ryan Murphy, and NBA/WNBA/NFL players. Proceeds will fuel the new Medical Intelligence Lab (MI Lab), a clinician-supervised generative AI model providing personalized insights via chatbot from lab results, scans, notes, and research, alongside lowering annual membership from $499 to $365 for broader accessibility. The platform emphasizes HIPAA-compliant data privacy, no data selling, and doctor-trained AI to shift healthcare from reactive to preventive, positioning Function as a unicorn redefining personalized health with strong traction evidenced by hundreds of thousands of members, TIME100 recognition, and rapid scaling. Leadership additions include Dr. Daniel K. Sodickson as chief medical scientist, Dr. Tiffany Lester for women's health, and Neil Shah as COO. |
| Jun 2024 | Series A | Andreessen Horowitz (lead) | $53M | - | Function Health is an Austin-based healthcare technology company founded in 2022, offering a membership service for over 100 lab tests annually to track biomarkers for heart conditions, thyroid, nutrition, cancer signals, immunity, aging, autoimmunity, metabolic function, and sexual health. The $499 annual membership (later reduced to $365) enables scheduling tests at over 2,000 labs, providing actionable health insights without insurance coverage. By June 2024, it had 50,000 members and a 200,000-person waitlist, with partnerships like Equinox gyms. In June 2024, Function Health raised a Series A round of approximately $45M-$53M led by Andreessen Horowitz Bio + Health, with participation from Wisdom.vc, Draft Ventures, K5 Ventures, G9 Partners, 53 Stations, Embiid Ventures, and celebrities including Kevin Hart, Blake Griffin, Zac Efron, Jimmy Rollins, Colin Kaepernick, and Pedro Pascal. This brought total funding to $53M-$106M including a $3M seed in March 2022. Funds aimed to support growth, expansion, lab integrations with EMRs and wearables. A later oversubscribed $298M Series B in November 2025, led by Redpoint Ventures with a16z and others, achieved a $2.5B valuation, bringing total funding to $350M-$400M and enabling launches like Medical Intelligence Lab AI, Ezra MRI acquisition, and over 50 million lab tests completed since 2023. |
| Mar 2022 | Seed | Spacecadet Ventures | $3M | - | Function Health raised $3 million in a seed round in March 2022 to kickstart operations and initial platform development. The round included participation from investors such as Pari Passu Venture Partners, with Spacecadet Ventures matching the query investor. The company offers a membership service providing over 100 lab tests annually for health insights and monitoring. Function Health has raised a total of $106 million across multiple rounds, including a $53 million Series A in June 2024 led by Andreessen Horowitz and a $50 million Series B in February 2025. |
Who has invested in Function Health?
3 investors have backed Function Health across its funding rounds, including Andreessen Horowitz, Redpoint and Spacecadet Ventures.
Lead investors include Redpoint and Andreessen Horowitz.
Function Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Nov 2025 | ||
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Start Free TrialAcquisitions by Function Health
Function Health has acquired 3 companies to date.
Last acquisition by Function Health was on May 11th 2026. Function Health acquired SuppCo for undisclosed valuation.
Latest Acquisitions by Function Health
| Description | SuppCo is a San Francisco-based app helping users discover personalized health supplements, schedule routines, and monitor wellness metrics. Launched in 2023, it analyzes user profiles against 5,000+ products from brands like Thorne and Ritual for tailored stacks delivered nationwide. | Getlabs is a Los Angeles-headquartered at-home diagnostics platform dispatching mobile phlebotomists for blood draws, vitals collection, and advanced testing nationwide. Partners including Labcorp and Quest Diagnostics use it to boost patient compliance and fill care gaps with same-day service availability. | Ezra AI is a cancer screening company using full-body MRI scans enhanced by artificial intelligence. FDA-cleared software assists radiologists in prostate MRI interpretation as a medical device. New York-headquartered and founded in 2018, Ezra operates screening centers in major U.S. cities offering 60-minute whole-body scans for early detection of over 500 conditions. |
| HQ Country | |||
| HQ City | New York City, NY | Miami, FL | New York City, NY |
| Deal Date | 11 May 2026 | 7 Apr 2026 | 5 May 2025 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Function Health acquisitions and their M&A valuation multiples. Start Free Trial | |||
Function Health Competitors
Function Health competitors include listed companies like Privia Health, Clover Health, CareDx and GeneDx, and private ones like NantHealth and Komodo Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.1B | $44M | $2.6B | 0.9x | ||
| Publicly listed | $1.9B | ($84M) | $2.4B | 0.8x | ||
| Publicly listed | $380M | ($10M) | $2.8B | 5.3x | ||
| Private | $58M | - | $2B | - | ||
| Publicly listed | $428M | $7M | $3.1B | 6.8x | ||
| Private | $150M | - | $3.3B | 22.0x |
Function Health Public Comps
Function Health is still privately-owned, but its public comps include Privia Health, Clover Health, CareDx, GeneDx, Dian Diagnostics Group, JMDC, Indegene, Nutex Health, Certara and XtalPi.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $44M | 1.0x | 0.9x | 50.2x | 15.3x | |||
| $1.9B | ($84M) | 1.1x | 0.8x | (25.8x) | 34.1x | |||
| $380M | ($10M) | 6.5x | 5.3x | (249.3x) | 41.0x | |||
| $428M | $7M | 7.4x | 6.8x | 477.6x | 183.5x | |||
| $1.5B | $127M | 1.4x | 1.4x | 16.4x | 12.2x | |||
| $324M | $88M | 5.0x | 4.6x | 18.4x | 17.9x | |||
| $366M | $68M | 3.7x | 3.3x | 19.9x | 18.2x | |||
| $875M | $288M | 2.0x | 2.0x | 6.0x | 6.4x | |||
This data is available for Pro users. Sign up to see all Function Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Function Health
| When was Function Health founded? | Function Health was founded in 2022. |
| Where is Function Health headquartered? | Function Health is headquartered in Austin, TX, United States. |
| Is Function Health publicly listed? | No, Function Health is a private, VC-backed company. |
| What is Function Health's valuation? | Function Health was last valued at $2.5B in its Series B in November 2025. |
| How much funding has Function Health raised? | Function Health has raised $354M across 3 funding rounds. |
| What was Function Health's last funding round? | Function Health's last funding round was a $298M Series B in November 2025, led by Redpoint. |
| Who are Function Health's investors? | Function Health's investors include Redpoint, Andreessen Horowitz and Spacecadet Ventures. |
| Which companies are comparable to Function Health? | Companies comparable to Function Health include Privia Health, Clover Health, CareDx, NantHealth, GeneDx and Komodo Health. |
| How many companies has Function Health acquired? | Function Health has acquired 3 companies, including SuppCo, Getlabs and Ezra AI. |
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