Total amount raised
$106 Millions
Latest funding date
Location
Function Health has successfully raised $53 million in a Series A funding round, led by Andreessen Horowitz Bio + Health. The platform offers a membership service that includes access to over 100 lab tests annually, helping individuals monitor various health markers.
With a goal of achieving a $2 billion valuation, Function Health has attracted 24 investors, including notable names like Kevin Hart and Wisdom VC. Keep reading to explore the intricacies of Function Health's fundraising journey and the investors backing this innovative platform.
What Is Function Health?
Function Health, founded in 2022, is a healthcare technology company based in Austin, Texas. The platform offers a membership service that includes over 100 lab tests annually, providing individuals with comprehensive health insights.
Founded by Daniel Swerdlin, Jonathan Swerdlin, Mark Hyman, Mike Nemke, Pranitha Patil, and Seth Weisfeld, Function Health aims to empower individuals to take control of their health through regular testing and monitoring.
With a team of 11-50 employees, Function Health leverages advanced technology to deliver easy-to-understand results and actionable health insights, helping members maintain and improve their well-being.
How Much Funding Has Function Health Raised?
Seed Round
- Amount Raised: $3M
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial user base.
Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Pari Passu Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and prepare for larger funding rounds.
Series A
- Amount Raised: $53M
- Date: June 2024
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion, including strategic partnerships.
Series B
- Amount Raised: $50M
- Date: February 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
Total amount raised: $106M. Current valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies. They led the $53 million Series A funding round for Function Health.
- Investment Focus Areas: Technology, healthcare, biotechnology.
- Notable Investments: Facebook, Airbnb, Slack.
- _able
- Details: _able is a venture capital firm with a focus on health and wellbeing. They were early investors in Function Health, with partners actively promoting and supporting the startup.
- Investment Focus Areas: Health, wellbeing, longevity.
- Notable Investments: Not publicly disclosed.
- Pari Passu Venture Partners
- Details: Pari Passu Venture Partners is a venture capital firm that participated in the seed round for Function Health. They focus on early-stage investments in innovative companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Kevin Hart
- Details: Kevin Hart is a well-known comedian and actor who has also ventured into investing. He is listed as one of the investors in Function Health.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Wisdom VC
- Details: Wisdom VC is a venture capital firm that has invested in Function Health. They focus on supporting innovative startups.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Function Health?
Function Health stands at the cusp of a significant opportunity, driven by its $53 million Series A funding and nearly 50,000 paying members. The strategic partnership with Equinox further amplifies its potential, offering a vast customer base and enhanced brand recognition. As the wellness industry shifts towards personalized health and longevity, Function Health is well-positioned to capture a larger market share.
Future fundraising rounds seem inevitable as the company continues to scale and attract more investors. However, challenges such as competition, data privacy, and maintaining rapid growth could pose hurdles. Navigating these will be crucial for sustained success and potential acquisitions.
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