The question that once belonged to a doctor’s office, what is actually happening inside your body, has become a consumer purchase, and this week it acquired a price tag with nine figures behind it. Function Health, the Austin-based platform that sells its members access to more than 160 biomarker lab tests and full-body imaging, announced on July 30 that it has closed $450 million in growth financing from General Catalyst’s Customer Value Fund. The round arrives just eight months after the company raised a $298 million Series B that valued it at $2.5 billion, and it lands at a cultural moment when the desire to quantify your own health has moved from the biohacking fringe to the group chat.
What makes the number worth pausing over is not only its size but its structure. The Customer Value Fund is a non-dilutive vehicle, meaning the capital is tied to the value of customers Function acquires rather than to a slice of the company’s equity, so the deal does not reset that $2.5 billion valuation. General Catalyst is paid as Function is paid. It is one of the fund’s largest commitments to date, and combined with roughly $350 million in prior equity rounds, it brings Function’s total raised past $800 million since the platform launched in beta in 2023.
The pitch is aspirational to the point of being almost utopian. “Our mission is simple: enable you to live 100 healthy years. Everyone deserves to feel their best and avoid suffering,” said Jonathan Swerdlin, the company’s co-founder and chief executive, framing every investment as, in his words, a vote for one hundred healthy years for eight billion people. Beneath the grand phrasing sits a concrete proposition: a single annual membership, starting at $365 a year or roughly a dollar a day, that bundles blood work covering the heart, hormones, thyroid, liver, kidneys, nutrient levels, inflammation, and potential cancer signals. MRI and CT scans, priced separately, are available across more than 200 locations to look for early signs of cancer, aneurysms, and stroke.
The strategy behind the spending is consolidation. Over the past fifteen months Function has made three acquisitions, each filling a gap in its platform: Ezra, an AI-powered imaging company that brought full-body scans into the fold in May 2025; Getlabs, which added at-home and in-office blood draws this April; and SuppCo, a supplement platform whose scoring system rates the reliability of what members are already swallowing. The bet is that an all-in-one model proves more durable than the single-lane approaches of rivals like Prenuvo, Neko Health, and Superpower.
None of this exists in a vacuum, and the vacuum it does not exist in is one Function helped create. Co-founded by Dr. Mark Hyman, the fifteen-time bestselling author and former Cleveland Clinic physician who now serves as chief medical officer, the company has ridden and amplified a wellness culture that treats bloodwork as a form of self-knowledge. Early celebrity backers including Matt Damon, Pedro Pascal, and Kevin Hart lent it glamour; a partnership with Equinox lent it a lifestyle. The company says it has grown to more than 500,000 members and completed over 100 million lab tests. Function removes some of the friction of traditional testing by letting users order comprehensive panels directly, without a physician’s referral first, which is precisely where the enthusiasm and the skepticism meet.
Because the harder questions travel alongside the money. Critics of the direct-to-consumer testing boom, including some physicians, have raised a persistent objection: a wall of numbers is not the same as a plan, and members can be left to interpret results, or chase down a doctor who will, largely on their own. Whether more data reliably produces better health, or simply more anxiety and more follow-up spending, remains genuinely unsettled. What is no longer in question is the appetite. General Catalyst’s Pranav Singhvi called Function “one of the defining companies of our generation,” and $450 million is a costly way to say the market agrees.
