Function Health, the Texas-based company behind a 160-test lab and imaging platform, has closed $450M in growth financing from General Catalyst’s Customer Value Fund. The round is structured as non-dilutive capital: the fund receives a capped share of the value generated by customers acquired through the spending, and it is paid only when Function gets paid.
The company says the money will bring its lab testing, imaging and personalized health intelligence platform to millions more members. Membership costs $365 a year and includes access to more than 160 laboratory tests, with testing twice a year.
The deal follows a busy stretch for the company. It raised a $298M Series B in November 2025 at a $2.5B valuation, then acquired Getlabs, a nationwide at-home and office blood-draw network, in April and supplement-management platform SuppCo in May.
The financing gives Function a path to scale consumer health services without additional equity dilution, an approach General Catalyst is rolling out across its portfolio. It also points to growing investor appetite for data-driven preventive care as at-home testing and wearables change how patients track their biomarkers.
Earlier backing includes a $53M Series A in 2024 led by Andreessen Horowitz’s Bio + Health fund.
