Function raises $450M from General Catalyst to scale health-testing platform

Function, the Austin-based health-testing startup, has raised $450 million in growth equity financing from General Catalyst's Customer Value Fund (CVF). The company plans to use the capital to bring its lab testing, imaging, and personalised intelligence platform to millions more people.

Since its beta launch in 2023, Function has combined more than 160 lab tests, MRI, and CT scanning into a single platform built for lifelong health. Access starts at $365 a year — about $1 a day — covering the heart, hormones, thyroid, cancer signals, and more, with imaging available for under $1,000 across 200+ locations nationwide.

The financing follows Function's Q2 acquisitions of Getlabs's nationwide at-home and office blood-draw network and SuppCo's supplement platform. The capital is meant to accelerate that expansion.

Function frames its mission as helping people live 100 healthy years. "Every dollar invested in Function is a vote for one hundred healthy years for eight billion people," said co-founder and chief executive officer Jonathan Swerdlin.

Function's model depends on scaling both testing infrastructure and its Medical Intelligence Lab, a continuous learning system still in development. Delivering personalised predictions at scale — across labs, imaging, and acquisitions — is operationally complex.

At $450 million, the round sits in the top 4% of all US growth equity deals in health by size, according to a sample of 576 comparable rounds. "This financing reflects our belief that Function is one of the defining companies of our generation," said Pranav Singhvi, partner and co-head of CVF at General Catalyst — a bet that consumer-owned preventive health is a category worth building at scale.