From electronic health records and blood tests to data streams from wearable devices, the amount of health information people generate is rapidly increasing. However, many users struggle to connect this large amount of data in meaningful ways and actually use it to improve their health.
Function Health provides routine clinical testing services to help people track their health, but they want to change that by integrating health data and making it available to customers by connecting it to AI models. To further this effort, the company recently raised $298 million in a Series B round led by Redpoint Ventures at a valuation of $2.5 billion.
a16z also participated in this funding round. Aglae Ventures; Alumni Ventures; NBA athletes Allen Crabbe, Blake Griffin, and Taylor Griffin; Battery Ventures; NFDG, the investment company of Nat Friedman and Daniel Gross. and Roku founder Anthony Wood. This round brings the total capital raised by the company to $350 million.
Alongside the funding, Function announced the Medical Intelligence Lab, an effort to build “medical intelligence”-generating AI models that can be used to provide personalized health insights based on users’ data, content, and research. The company says the model is trained by doctors. The company offers customers an AI chatbot that can answer questions based on health data and provide customized guidance using past test results, doctor records, and scan results.
“It’s not enough to be in a world where AI exists and not be leveraging it for your own health,” Jonathan Swerdlin, CEO and co-founder of Function, told TechCrunch. “You need to be able to manage your own biology. The purpose of functional health is to apply the best available technology to human health.”
Swerdlin said the platform meets HIPAA standards, user data is fully encrypted and personal information is never sold. “Your data and your identity will never be sold. Every inch of your information is fully encrypted and protected. We are committed to keeping you and your data safe.”
Dr. Dan Sodickson, Function’s chief medical scientist, and Dr. Mark Hyman, its co-founder and chief medical officer, are jointly leading the development of the MI Lab and its team of physicians, researchers, and engineers. The MI model is trained by physicians, and they remain involved in the process, Swerdlin said.
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Although there are many players in the space, Function’s device-agnostic approach sets it apart from competitors such as Superpower, Neko Health, and InsideTracker, Swerdlin said, adding that the platform integrates lab tests, diagnostics, and clinical insights to offer more than a typical AI coach or wellness app.
Function has 75 locations in the U.S., he added, and Function members “can receive clinical testing at 2,000 Quest locations.” Function says it has completed more than 50 million clinical tests since 2023.
This article has been updated to reflect that function members have access to testing at 2,000 quest locations.
