The amount of health information people generate is accelerating rapidly. This data comes from many sources, including electronic health records, blood tests, and wearable devices. However, many individuals struggle to connect this wealth of data in a meaningful way to actually improve their health.
Function Health wants to change that by consolidating health data and making it usable for its customers. The company offers a regular lab testing service to help people track their health. It aims to connect that data to an AI model to provide insights. To further this effort, the company recently raised 298 million dollars in a Series B funding round. This round was led by Redpoint Ventures and values the company at 2.5 billion dollars.
The funding round included participation from several investors. These include a16z, Aglaé Ventures, Alumni Ventures, and Battery Ventures. NBA athletes Allen Crabbe, Blake Griffin, and Taylor Griffin also participated. Other participants were Nat Friedman and Daniel Gross’s investment firm, NFDG, and Roku founder Anthony Wood. This round brings the company’s total capital raised to 350 million dollars.
Alongside the funding, Function unveiled its Medical Intelligence Lab. This effort aims to build a generative AI model for medical intelligence. The model is designed to provide personalized health insights based on users’ data, content, and research. The company stated that the model is trained by doctors. For customers, the company is offering an AI chatbot that can answer questions based on their health data. This chatbot can use previous lab results, doctor’s notes, and scans to provide tailored guidance.
The CEO and co-founder of Function, Jonathan Swerdlin, emphasized the importance of applying AI to health. He stated that people should be able to manage their biology and that the objective of Function Health is to apply the best available technology to human health. Swerdlin also noted that the platform meets HIPAA standards, fully encrypts user data, and never sells personal information. He affirmed the company’s commitment to keeping user data safe and secure.
The development of the Medical Intelligence Lab is led by Function’s chief medical scientist, Dr. Dan Sodickson, and its co-founder and chief medical officer, Dr. Mark Hyman. They lead a team of doctors, researchers, and engineers. The AI model is trained by doctors, who remain involved throughout the process.
While the health data space has many players, Function sets itself apart from competitors. Swerdlin mentioned competitors like Superpower, Neko Health, and InsideTracker. He stated that Function’s device-agnostic approach is a key differentiator. The platform integrates lab testing, diagnostics, and clinical insights to offer more than a typical AI coach or wellness app.
Function currently has 75 locations in the United States and plans to have almost 200 by the end of this year. The company reports it has completed more than 50 million lab tests since 2023.