Function Health Raises $298M at $2.5B Valuation in Series B
▼ Summary
– Function Health raised $298 million in Series B funding at a $2.5 billion valuation to consolidate health data and make it usable through AI.
– The company launched Medical Intelligence Lab, a generative AI model trained by doctors to provide personalized health insights from user data.
– Function Health offers an AI chatbot that answers health questions using customers’ lab results, doctor’s notes, and scans for tailored guidance.
– The platform ensures data security by meeting HIPAA standards, fully encrypting user data, and never selling personal information.
– Function Health differentiates itself with a device-agnostic approach, integrating lab testing, diagnostics, and clinical insights beyond typical wellness apps.
The challenge of modern health lies not in a lack of data, but in making sense of the overwhelming stream of information we generate. From electronic health records and wearable devices to regular blood tests, individuals now produce vast amounts of personal health data, yet struggle to translate this into actionable insights for improving their wellbeing. Function Health, a company dedicated to transforming this data into usable health intelligence, has secured a massive $298 million in a Series B funding round. This investment, led by Redpoint Ventures, values the company at an impressive $2.5 billion.
This substantial financial backing will accelerate Function Health’s mission to consolidate disparate health information and connect it to sophisticated AI models. The funding round attracted a diverse group of investors, including Andreessen Horowitz (a16z), Aglaé Ventures, Alumni Ventures, and Battery Ventures. Notable individual participants included NBA athletes Allen Crabbe, Blake Griffin, and Taylor Griffin, alongside Nat Friedman and Daniel Gross’s investment firm NFDG, and Roku founder Anthony Wood. With this latest injection of capital, the company’s total funding has now reached $350 million.
Coinciding with the funding announcement, Function unveiled its new Medical Intelligence Lab. This initiative is focused on building a proprietary generative AI model, trained by doctors, to deliver deeply personalized health insights. The model synthesizes user data, medical content, and the latest research to provide tailored guidance. For customers, this translates to an AI-powered chatbot that can answer specific health questions by drawing upon their complete history, including past lab results, physician notes, and medical scans.
Jonathan Swerdlin, CEO and co-founder of Function, emphasized the critical nature of this work. He stated that in a world where artificial intelligence is advancing rapidly, it is essential to apply these technologies directly to personal health management. The core objective of Function Health is to leverage the best available technology to empower individuals to understand and manage their own biology. Swerdlin also addressed paramount data security concerns, confirming that the platform is fully HIPAA compliant. He assured that user data is entirely encrypted, personal identity is never for sale, and the company maintains an unwavering commitment to protecting customer information.
The development of the Medical Intelligence Lab and its underlying AI model is being spearheaded by Function’s chief medical scientist, Dr. Dan Sodickson, and its co-founder and chief medical officer, Dr. Mark Hyman. They lead a dedicated team of physicians, researchers, and engineers. Swerdlin stressed that medical doctors remain integrally involved in the training and refinement process of the AI, ensuring clinical expertise guides its development.
In a competitive landscape that includes companies like Superpower, Neko Health, and InsideTracker, Function Health differentiates itself through a uniquely comprehensive and device-agnostic strategy. The platform goes beyond being a simple AI coach or wellness application by deeply integrating professional lab testing, advanced diagnostics, and clinical-grade insights. The company is also experiencing rapid physical expansion, currently operating 75 locations across the United States with plans to nearly triple that number to 200 by the end of the year. Since its inception in 2023, Function has already processed more than 50 million lab tests, underscoring its significant scale and growing user base.
(Source: TechCrunch)