Function Health Seeking $2 Billion Valuation in Funding Round
Function Health, a startup offering regular lab testing for ongoing health monitoring, is seeking a fresh round of funding aimed at boosting its valuation to $2 billion.
Sources familiar with the matter indicate that the startup is targeting at least $200 million in funding. Discussions are ongoing, and details could evolve or potentially fall through. Function Health has declined to comment on the fundraising discussions.
Co-founded by Dr. Mark Hyman, a renowned health and longevity expert, Function Health has gained prominence within the celebrity sphere. Following a funding round led by Andreessen Horowitz in 2023, the startup raised $53 million, with notable participants such as Ari Emanuel, Colin Kaepernick, and Zac Efron.
As of December, Function Health reported over 100,000 members. Customers pay $499 for a comprehensive suite of over 100 lab tests designed to assess cancer risks, liver and kidney function, and other health indicators. The tests also aim to determine individuals' biological age based on various biomarkers.
Dr. Hyman, who serves as Function Health's Chief Medical Officer, has extensive experience in functional medicine, emphasizing preventive healthcare. He has advised high-profile individuals, including former President Bill Clinton and Hillary Clinton, and has established a vast health platform encompassing a podcast, books, and a supplements business.
While Dr. Hyman has previously suggested a possible link between vaccines and autism, a highly controversial and unverified theory, he maintains a close friendship with Robert F. Kennedy Jr., who has faced criticism for his skeptical views on vaccines. The two have been known to travel together in Peru.