Function raises Series A funding to provide access to over 100 lab tests
Patients pay a flat $499 annual fee to get access to all of the tests
For decades, the health system has prioritized outdated processes and profits, with people only visiting primary care doctors for routine annual check-ups or on a reactive basis after experiencing symptoms. This, along with corrupted food systems, has led to a spike in chronic disease, devastating health disparities, escalating cancer rates, and common misdiagnoses from an overburdened health system.
Looking to change how people manage their lifelong health, Function is a platform that provides patients with access to over 100 lab tests at a single cost of $499 per year.
"Function removes barriers around extensive lab testing, with the aim of giving people control of their health. It doesn’t replace your doctor; it makes you more knowledgeable about your own body—and therefore more powerful when it comes to transforming your health for the better over time," Dr. Mark Hyman MD, co-founder of Function, told VatorNews.
"Plus, the data and analysis can be shared with doctors and are designed to make a doctor's time more effective."
On Tuesday, the company announced the close of its Series A round led by Andreessen Horowitz (a16z) Bio + Health, with support from the a16z Cultural Leadership Fund. The size of the round was not disclosed, but it brings the company's total funding to $53 million.
Function is for people over the age of 18 with all backgrounds and health profiles, offering lab testing that helps people at every life stage understand their current health, discover how it's changing, and take immediate action.
The 100+ lab tests, which includes heart, thyroid, hormones, metabolic, cancer signals, inflammation, kidneys, liver, nutrients, and heavy metal toxicity, are more than five times greater than the 19 tests that most patients have access to through from their primary care provider.
On top of that, what really sets Function apart is that all members have their lab test results reviewed by a clinician, Hyman explained, unlike other companies who "focus on providing easier access to medical practitioners.
"Function breaks away from these norms by removing barriers around extensive lab testing and providing comprehensive, actionable insights from top doctors and thousands of hours of research, knowing it’s what you do outside the doctor’s office that matters most," he said.
"With everything tracked in one centralized platform and monitored over time, Function makes owning your health more approachable — helping members become their greatest advocates."
Launched in beta in 2023, Function now has nearly 50,000 members, and over 200,000 people have joined its waitlist. For example, one member was introduced to Function through her daughter: she discovered she had Stage 3B ovarian cancer through the results provided by Function at the end of 2023.
"If she waited a few months, there was a severe risk she would have been Stage 4 terminal. She is now completing her chemotherapy treatment," said Hyman
Another Function member, a father of 2, received lab insights that indicated he had elevated PSA levels; from this, he discovered he had prostate cancer. A third member, a fit 35 year old, learned he was out of range with his lipid particle size, a test rarely done in traditional primary care settings, despite otherwise normal-seeming cholesterol, leading him to find out he is in the top 1% of risk for heart disease despite his age, and he's now treating it.
"How you could go through life without knowing what's actually happening inside your body when a platform like Function now exists? What would normally cost $15,000, is just $499 per year through Function," said Hyman.
"In most cases, people are learning crucial information about their health, such as early-stage cancer, heart disease, metabolic dysfunction, and hormone disorders, which would have been not only monetarily expensive but also taxing on their lives."
Additional investors in the new funding round include Wisdom.vc, Draft Ventures, K5 Ventures, G9 Partners, 53 Stations, Matt Damon, Endeavor CEO Ari Emanuel, Kevin Hart, Embiid Ventures, Jay Shetty, Blake Griffin, Zac Efron, Jimmy Rollins, Colin Kaepernick, Levels co-founder Dr. Casey Means, Pedro Pascal, Seed co-founder Ara Katz, Equinox Chairman Harvey Spevak, and former Oura CEO Harpreet Singh Rai.
It will be used to scale its technology, increase access to whole-body testing, and empower more people to take control of their health, explained Hyman.
This investment comes after announcing a strategic partnership with fitness company Equinox in April, in which Function integrated its platform with a network of trainers to enhance the wellness experience.
"The partnership between Equinox and Function marks a significant advancement in health optimization and personalized fitness by integrating physical achievements with crucial internal health markers. Function’s proactive approach has attracted hundreds of thousands of individuals, aligning perfectly with Equinox’s high-performance ethos," said Hyman.
"Together, we are developing a revolutionary program through Equinox's elite Coachx trainers, tailored to each individual's unique biological data to unlock peak human potential."
(Image source: functionhealth.com)
