Celebrities back Function in $53M Series A funding round

Function, a whol- body health company, announced it secured $53 million in a Series A funding round, led by Andreessen Horowitz (a16z) Bio + Health.

Actors Matt Damon, Kevin Hart, Zac Efron and Pedro Pascal participated in the round. Podcast host Jay Shetty and athletes Jimmy Rollins, Blake Griffin and Colin Kaepernick also provided funding, alongside NBA player Joel Embiid’s Embiid Ventures. 

Additional investors include Ari Emanuel, CEO of Endeavor; Dr. Casey Means; Ara Katz, cofounder of Seed; Harvey Spevak, Equinox chairman; Jeff Dean; and Harpreet Singh Rai, former CEO of Oura.

WHAT IT DOES

Function users undergo 100+ lab tests and, based on the results, obtain a detailed clinician summary of their overall health. The tests include biomarkers that help monitor for early indicators of diseases. 

Function’s platform allows users to view their test results, access the clinician summary and insights, and obtain food and supplement recommendations. 

The company says the aim is to track lab results over time and uncover trends in one’s health. The tests can be done once a year, twice yearly or when needed.

The Texas-based company will use the funds to scale its platform. 

“Early cancer detection is critical. Getting ahead of heart disease is critical. Understanding your hormones is critical. This investment ensures we can scale this revolutionary approach to reach billions of people,” Dr. Mark Hyman, cofounder of Function and founder of the Cleveland Clinic Center for Functional Medicine, said in a LinkedIn post. 

MARKET SNAPSHOT

Function partnered with high-performance luxury living brand Equinox in April to blend physical achievements with internal health markers. 

Through the collaboration, Equinox’s Coachx trainers would use an individual’s biological data to develop a personalized program to help them achieve a higher level of performance.