Function Health company profile: valuation, funding & revenue

This Function Health company profile covers the company's valuation, revenue, funding rounds, investors and history. Function Health works in healthcare, with a focus on consumer lab testing and preventive health. It was founded in 2022 and is headquartered in Austin, Texas, United States. Its latest valuation on record is US$2.5 billion (November 2025). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Function Health timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2022 — Function Health is founded in Austin by Jonathan Swerdlin (CEO), Dr. Mark Hyman and co-founders.
• Nov 2025 — Series B: US$298M, valuing the company at US$2.5B. Investors: Redpoint Ventures (lead); Andreessen Horowitz, Battery Ventures, NFDG, Aglaé Ventures and others.
• November 2025 — Total funding: More than US$350 million.

Investors

Overview

Function Health sells a membership that gives consumers extensive laboratory testing, and increasingly medical imaging, to understand their health and catch problems early. Members get blood and urine tests covering more than a hundred biomarkers, including hormones, heart health markers, nutrients, thyroid function, inflammation and markers linked to cancer risk, twice a year, with results explained in an app alongside clinician notes and recommendations. After acquiring the full-body MRI company Ezra, Function also offers advanced imaging scans. The company is one of the fastest-growing businesses in the consumer preventive health trend, often associated with the "longevity" movement.

Function Health was launched in 2023 by co-founders including Jonathan Swerdlin, the CEO, and Dr. Mark Hyman, a well-known functional medicine physician and author. The company is based in Austin, Texas. Its pitch is that the traditional healthcare system mostly reacts to illness, and that regular comprehensive testing can help people spot trends and take action years earlier.

Products

• Membership testing: about 160 lab tests a year, collected at partner lab locations, with repeat tests to track changes.
• Imaging: full-body MRI and other scans through Ezra, acquired in 2025.
• Results app: explanations of each biomarker, trends over time and personalised recommendations.
• Clinician review: doctors review results and flag findings that need follow-up.
• Medical Intelligence: AI tools that interpret combined health data and answer members' questions.

Funding

In November 2025 Function Health raised a US$298 million Series B at a US$2.5 billion valuation, led by Redpoint Ventures, with participation from Andreessen Horowitz, Battery Ventures, NFDG (the fund of Nat Friedman and Daniel Gross), Aglaé Ventures, Alumni Ventures and individual investors including athletes and entrepreneurs. The company said the round was oversubscribed, bringing total funding to more than US$350 million. Alongside the round it cut its annual membership price from US$499 to US$365, about a dollar a day, and introduced AI tools built around its health data.

Business model

Function earns revenue from annual memberships paid directly by consumers, plus add-on tests and imaging. Lower prices aim to expand the market beyond wealthy early adopters. Because it buys lab testing at scale from lab partners, its margins depend on negotiating low testing costs. The company doesn't publish revenue, so we show it as not disclosed.

Competition

Function competes with other consumer testing and longevity companies such as Superpower, InsideTracker, Everlywell and Prenuvo (for full-body MRI), with lab companies selling direct-to-consumer tests such as Quest and Labcorp, and with telehealth and primary care companies. Wearable makers and health apps also compete for consumers' attention and health budgets.

Function Health at a glance

Function Health is an Austin company launched in 2023 by Jonathan Swerdlin, Dr. Mark Hyman and co-founders. It sells a membership for comprehensive lab testing and imaging with app-based results and AI. It raised a US$298 million Series B at a US$2.5 billion valuation in November 2025, led by Redpoint Ventures.

Timeline

• 2023: launches its testing membership.
• 2024: grows rapidly through word of mouth and media coverage.
• 2025: acquires Ezra for MRI imaging; raises US$298 million at US$2.5 billion; cuts its membership price to US$365.

The debate over preventive testing

Comprehensive testing for healthy people is controversial in medicine. Supporters argue it empowers people to understand their bodies, catch issues such as prediabetes or high cholesterol earlier, and track how lifestyle changes affect their health. Critics warn that testing many markers in healthy people can produce false positives and incidental findings that lead to anxiety, unnecessary follow-up tests and procedures, and costs, without clear evidence of improved outcomes. Full-body MRI scans for people without symptoms are particularly debated by radiologists. Consumers should discuss results with doctors and understand the limitations of screening.

Who uses Function

Function's members are typically health-conscious adults who want more insight than an annual check-up provides, including people interested in longevity, fitness and managing family history of disease.

Risks

• Clinical evidence: the benefits of broad screening for healthy people aren't fully established.
• Regulation: rules on direct-to-consumer testing and lab-developed tests could change.
• Retention: members may not renew once they see normal results.

Questions for consumers

• Which tests are included, and how are abnormal results followed up?
• Is testing covered by insurance or health savings accounts?
• How is your health data stored and used?

How a Function membership works

After signing up, members book appointments at partner lab locations, where blood and urine samples are collected. Results appear in the app within days or weeks, with each biomarker explained and flagged if out of range. A clinician reviews the results, and the app suggests lifestyle changes or recommends discussing certain findings with a doctor. A follow-up test later in the year shows whether markers have changed. Members can add imaging scans and additional tests at extra cost.

Valuation context

A US$2.5 billion valuation within about three years of launch reflects investor belief that preventive testing can become a large consumer market, similar to how fitness wearables did. Its lower membership price suggests a focus on reaching mass-market customers.

Questions for prospective members

• What happens if a result is abnormal, and who follows up?
• Which tests and scans are included in the base price?
• Can you share results with your own doctor easily?

Repeat testing is central to its approach: seeing how markers change over months and years can be more informative than a single snapshot, and it gives members a reason to renew. Combining lab results, imaging and member-reported information over time is central to its AI strategy.

Latest developments (October 2026)

Function Health announced US$450 million of growth financing from General Catalyst's Customer Value Fund in July 2026, a structure that funds customer acquisition and is repaid from member revenue rather than new equity, so it carried no new valuation, according to MobiHealthNews. Its last priced round remains the November 2025 Series B of US$298 million at US$2.5 billion, led by Redpoint Ventures.

What to watch

Watch membership growth, AI tools, evidence on outcomes, regulatory developments and new funding. Our guide to healthcare AI startups covers related companies.

Takeaways

Consumers can access extensive testing without a doctor's referral, but should understand its limits. Founders can see how pricing changes can expand a consumer health market. Investors should weigh fast growth against clinical and regulatory questions.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Fierce Healthcare
2. MedCity News