Meta description: Function Health raised $298 million in its Series B round, reaching a $2.5 billion valuation and attracting top-tier investors for its preventive health platform.
Function Health has completed a $298 million Series B funding round, pushing its valuation to $2.5 billion. The oversubscribed round signals strong market confidence in the Austin-based healthtech company. Investors, founders, and growth-focused executives will note the significant capital injection alongside a reduction in membership pricing to strengthen user acquisition.
How was the Series B structured?
The $298 million Series B was led by Redpoint Ventures and was oversubscribed, indicating demand from investors exceeded the planned raise. The funding places Function Health firmly among rare healthtech unicorns worldwide. The company has scaled rapidly since its founding, recording over 50 million lab tests performed since 2023 and building a large membership base.
The Series B capital is earmarked for expanding Function Health’s Medical Intelligence platform, integrating laboratory testing, medical imaging, continuous learning models, and AI tools designed for proactive health management. This approach aims to detect health issues before symptoms appear.
Who invested in Function Health?
The investor base in this round reflects a blend of venture capital firms, corporate investors, and notable individuals. Alongside lead investor Redpoint Ventures, the round included Andreessen Horowitz (a16z), Aglaé Ventures, Battery Ventures, NFDG, QuantumLight, and Samsung Next. There was also participation from professional athletes, entertainers, and company founders who see strategic potential in preventive health technology.
What does the funding mean for expansion?
This new capital allows Function Health to fuel its product roadmap and widen global reach. Core strategic moves include:
- Launching a Medical Intelligence Lab to unify health data from labs, imaging, wearables, and IoT devices.
- Rolling out AI-driven features such as private medical chat support, personalized protocols, and comprehensive health record integration.
- Reducing the annual membership fee from $499 to $365 to encourage adoption, pricing the service at $1 per day.
- Strengthening the leadership with experienced executives from technology and healthcare, including former Slack and Cleveland Clinic leaders.
These changes position Function Health to operate not just as a testing platform but as a predictive health intelligence layer integrated into everyday medical decision-making.
FAQ
1. What is Function Health’s current valuation?
Function Health stands at a $2.5 billion valuation following the Series B round.
2. How much funding has Function Health raised in the latest round?
The company raised $298 million in an oversubscribed Series B.
3. Who was the lead investor?
Redpoint Ventures led the round, with participation from multiple other venture capital firms and strategic investors.
4. What will the funds be used for?
Funds will support expansion of the Medical Intelligence platform, AI-driven health tools, leadership growth, and global market penetration.
Key takeaways
Function Health’s $298 million Series B marks a clear trajectory toward global scale in preventive health. The combination of strong investor backing, accessible pricing, and focus on data-driven medical intelligence strengthens its competitive position. For business leaders and investors, the company offers a case study in how robust capital allocation and strategic pricing can accelerate adoption in healthtech.
Disclaimer
This content is provided for informational purposes only and does not constitute financial advice.
Announcement
This article is based on publicly available financial information.