Function Health closes $450M growth round from General Catalyst; 500K+ members, 100M+ tests

<cite index="71-2">Function announced the closing of $450 million in growth financing from General Catalyst's Customer Value Fund, accelerating the company's mission to help millions more people understand and take ownership of their health, just eight months after its $298 million Series B</cite>. <cite index="76-1">The Austin startup says it has 500,000+ members and 100M+ completed lab tests since 2023</cite>.

<cite index="71-2">The financing comes on the heels of Function's Q2 expansion acquisitions of Getlabs's nationwide at-home or office blood draw network and SuppCo's supplement platform</cite>. <cite index="76-4">Because CVF financing is structured as non-dilutive, revenue-linked capital rather than an equity stake, this deal does not reset Function's valuation, which stood at $2.5 billion after a $298 million Series B in November 2025</cite>. <cite index="71-3">Access to 160+ lab tests including biannual testing starts at just $365/year</cite>.

<cite index="76-2">Function combines labs, imaging, at-home draws and supplement guidance into a single membership, wagering that bundling wins out over point solutions. European challengers are chasing the same thesis at a fraction of the capital</cite>. For health tech investors: <cite index="76-3">whether preventive testing becomes a genuine category of healthcare or a subscription for the worried wealthy is still unsettled</cite>, but Function's capstone acquisitions and structural funding suggest the category is consolidating around vertically integrated models that span diagnostics and intervention.