Function Health raises $298M Series B at $2.5B valuation

Revolutionizing Health Data with AI: Function Health Raises $298 Million in Series B Round

With the exponential growth of health data being generated from electronic health records, wearable devices, and blood tests, the challenge lies in making sense of this vast amount of information to improve health outcomes. This is where Function Health steps in, offering a unique solution to consolidate and utilize health data effectively through the power of artificial intelligence.

The recent $298 million Series B funding round led by Redpoint Ventures, with participation from a16z, Aglaé Ventures, and notable figures like NBA athletes Allen Crabbe and Blake Griffin, has propelled Function Health to a valuation of $2.5 billion. This brings the total capital raised by the company to $350 million, enabling it to further develop its innovative approach to personalized healthcare.

One of the key initiatives introduced by Function Health is the Medical Intelligence Lab, a cutting-edge AI model trained by doctors to provide personalized health insights based on individual data, research, and content. This AI chatbot, integrated into the platform, leverages users’ health data, lab results, and medical notes to deliver tailored guidance and answers to health-related queries.

Jonathan Swerdlin, CEO and co-founder of Function Health, emphasized the importance of applying advanced technology to healthcare, stating, “You should be able to manage your biology. The objective of Function Health is to apply the best available technology to human health.” The platform adheres to HIPAA standards, encrypts user data, and prioritizes user privacy by never selling personal information.

Function Health’s team, led by chief medical scientist Dr. Dan Sodickson and chief medical officer Dr. Mark Hyman, comprises doctors, researchers, and engineers dedicated to advancing medical intelligence. The AI model is continuously refined and monitored by medical professionals to ensure accuracy and relevance in providing health guidance.

Setting itself apart from competitors like Superpower and Neko Health, Function Health distinguishes itself through its device-agnostic approach and comprehensive integration of lab testing, diagnostics, and clinical insights. With 75 locations across the U.S. and access to lab tests at 2,000 Quest locations, Function Health has completed over 50 million lab tests since 2023, making a significant impact in the realm of personalized healthcare.

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This article has been updated to reflect that Function members can access tests at 2,000 Quest locations.