Prime Highlights
- Swerdlin said every dollar invested in Function Health represents a step toward enabling 100 healthy years for people worldwide.
- Singhvi said Function Health has created an entirely new approach to healthcare and is well positioned for its next phase of growth.
Key Facts
- Function Health is a membership-based platform offering lab testing, imaging and personalized health intelligence, founded in 2023.
- The company has raised $450 million in this round, following $298 million secured in a Series B round earlier this year.
Background
Function Health, a company offering lab testing and body scans for early disease detection, has raised $450 million in growth financing to expand its preventive health services, the company announced.
General Catalyst’s Customer Value Fund led the round, which comes about eight months after Function Health raised $298 million in a Series B funding round earlier this year.
Function Health, launched in 2023, runs a membership-based platform giving patients access to more than 160 biomarker lab tests. The company also offers MRI and CT imaging across more than 200 locations nationwide to detect signals of cancer, aneurysms, strokes and other conditions.
Jonathan Swerdlin, co-founder and CEO of Function Health, said the company’s mission was to help people live 100 healthy years, adding that everyone deserved to feel their best and avoid suffering. He said the new financing would help bring an optimistic future of preventive health into the present.
The company has made three acquisitions over the past 15 months to build out its infrastructure. It acquired Ezra last year to combine lab testing with AI-powered full-body imaging, followed by mobile healthcare company Getlabs earlier this year to enable at-home and in-office blood draws. It also acquired nutritional supplement platform SuppCo to expand its service offerings.
Pranav Singhvi, partner and co-head of the Customer Value Fund at General Catalyst, said the financing reflected the firm’s belief that Function Health was one of the defining companies of its generation, adding that the company was well positioned to reach millions more people.
Swerdlin had earlier said the platform was designed to give individuals a complete picture of their health, allowing them to stay ahead of potential issues throughout their lives.
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