Own your biology — 100+ lab tests, your whole health data, and an AI that makes sense of it
HQ: Austin, TX, United States | Founded: 2023 | Employees: Several hundred (scaling with clinical network and AI teams) | Stage: Series B ($298M at $2.5B valuation, November 2025); ~$500M+ total raised | Website: https://www.functionhealth.com
Function Health is a consumer health platform built around comprehensive lab testing. Members pay an annual fee (~$499) for 100+ biomarker tests, drawn twice a year at partner labs (2,000+ Quest locations), with results delivered in an app that presents each marker, its trend, and clinician-written context. Members own their data permanently — the company's tagline is 'own your biology' — and the platform increasingly ingests health records, scans, and wearable data to give one connected view.
The company was founded in 2023 in Austin by Dr. Mark Hyman, the physician and author who popularized functional medicine, and Jonathan Swerdlin, a repeat operator who serves as CEO. The founding observation: standard physicals test a handful of markers, chronic disease develops over decades, and the data that could catch it early was locked inside a system optimized for treating sickness, not maintaining health.
Growth was immediate. Function reported ~$200M in annualized revenue and 100,000+ members within its first year-plus, attracting a $53M Series A and then a $298M Series B led by a16z (with Redpoint, Aglaé, Alumni Ventures, NFDG, Battery, and athletes including Blake Griffin) at a $2.5B valuation in May 2025 — roughly 18 months post-launch. TechCrunch put total capital raised around $350M by that point, with later reporting suggesting $500M+ after subsequent rounds.
In late 2025 the company launched 'Medical Intelligence' — an AI model built with doctors (led by chief medical scientist Dr. Daniel Sodickson and Dr. Hyman) that synthesizes labs, records, scans and wearables into personalized, clinician-supervised insights, plus Function Scans, a full-body MRI service available at 130+ locations. Function positions itself as the data-and-insight layer for a person's health rather than a medical provider: laboratory services are provided by partner networks, and the platform is HIPAA-compliant with a no-data-sale policy.
Function Health weaponized the most boring artifact in medicine: the lab order. Annual physicals test a handful of markers; Function tests 100+, twice a year, at a consumer price, with results in an app the member owns. The insight is that people will pay out-of-pocket for data their insurance-based system won't give them — and that once someone sees their own trends, they never go back.
The growth is the fastest in consumer health: ~$200M revenue run-rate with 100,000 members at a $2.5B valuation within ~18 months of launch, then a $298M Series B led by a16z at 10x+ that member base and $500M+ raised in under two years. Celebrity backing (Blake Griffin, Anthony Wood) and founder brand (Dr. Mark Hyman, the functional-medicine bestseller author) did the distribution that health startups usually burn years and sales teams on.
The second act is the interesting one: 'Medical Intelligence' — an AI model trained with doctors that connects labs, doctor's notes, scans and wearable streams into personalized insight, plus Function Scans (full-body MRI at 130+ locations) pushing from diagnostics into early detection. The strategic questions are real: the CDC says healthier people use it (selection bias baked into the funnel), incumbent labs and insurers could move down-market, regulation around AI health advice is tightening, and clinicians question the value of broad panels for healthy people. But the model — subscription diagnostics + owned data + AI layer — is now the template the rest of the industry is scrambling to copy, which is exactly why it raised at $2.5B.
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