New company launches to offer consumers access to 100+ lab tests for $500 per year

A new company has been launched in the U.S. offering a novel approach to lab tests. Called Function, it says its first-of-its-kind platform aims to revolutionize how people manage their lifelong health — starting with providing the deepest possible understanding of their body and what they should do to improve their health.

How does it work?

With a mission to empower everyone to live 100 healthy years, Function is the first company to provide access to 100+ lab tests at a single cost of $499 per year — equivalent to $42 per month or $1.37 per day.

The extensive assessment includes five times more lab testing than a typical physical exam, including heart, hormones, thyroid, nutrients, cancer signals, immunity, aging factors, autoimmunity, and more. Results are displayed in a digestible dashboard, complete with a detailed summary from a clinician.

Why does it matter?

After experiencing the shortcomings of traditional healthcare, the founding team at Function — including Mark Hyman MD, Pranitha Patil, Jonathan Swerdlin, Mike Nemke, Seth Weisfeld, and Daniel Swerdlin — engineered a first-of-its-kind approach that focuses on prevention and empowerment.

For decades, the health system has prioritized outdated processes and profits, with people only visiting primary care doctors for routine annual check-ups or on a reactive basis after experiencing symptoms. This, along with corrupted food systems, has led to a spike in chronic disease, devastating health disparities, escalating cancer rates, and common misdiagnoses from an overburdened health system.

Function breaks away from these norms by removing barriers around extensive lab testing and providing comprehensive, actionable insights from top doctors and thousands of hours of research. This transition from reactive to proactive is historical and reflects a surging demand for health over healthcare.

Funding

Function has also managed to close its Series A round led by Andreessen Horowitz (a16z) Bio + Health with support from the a16z Cultural Leadership Fund, bringing its total funds to $53 million. Additional investors include Wisdom.vc, Draft Ventures, K5, G9 Ventures, 53 Stations, Matt Damon (Actor), Ari Emanuel (CEO of Endeavor), Kevin Hart (Comedian & actor), Joel Embiid's (NBA's 2023 MVP) Embiid Ventures, Jay Shetty (award-winning podcast host), Blake Griffin (former NBA), Zac Efron (Actor), Jimmy Rollins (former MLB), Colin Kaepernick (former NFL), Dr. Casey Means, Pedro Pascal (Actor), Ara Katz (Co-founder of Seed), Harvey Spevak (Equinox Chairman), Harpreet Singh Rai (Former CEO of Oura), Jeff Dean, and others.

The new capital validates Function's paradigm-shifting approach and will be used to rapidly scale its technology, increasing access to whole-body testing and empowering more people to take control of their health.

Since its beta release in April 2023, Function has become the fastest-growing health platform in America, with nearly 50,000 paying members and a waitlist of over 200,000 people. It also recently established a strategic partnership with leading fitness company Equinox, integrating its platform with a robust network of trainers to enhance the wellness experience.

On the record

"We're proud to partner with Function Health, a company that has already transformed many thousands of lives," said Vijay Pande, PhD., Founding General Partner, a16z Bio + Health. "Function is reinventing healthcare with speed and scale. Their clear and novel approach to preventing suffering and avoidable deaths is setting a new standard for global health."

"As an athlete who has spent most of my life and career focused on optimizing my health and performance, I connected deeply with Function's vision for healthcare. Making personal health data widely accessible, affordable, and easy to understand is a game-changer for everyone to take a proactive approach to improving their health and preventing disease. I am thrilled to be part of the team's journey and support their mission," said Blake Griffin, former NBA player.

"Function is the first with a mission of empowering you to live 100 healthy years. We're introducing a revolutionary approach to lifelong health, starting with the most comprehensive lab testing to help you understand what's actually happening inside your body and what to do to stay ahead of disease and feel your best," said Function co-founder and CEO Jonathan Swerdlin. "Function isn't just a company; it's a movement of people of all ages taking control of their health. We're at a historical juncture where technology and culture are converging to redefine our relationship with our own biology. This moment sets the stage for a future where the latest research and innovation seamlessly integrate into our lives in service of less suffering and more years. The possibilities are boundless. This is about health, not healthcare, happening outside traditional systems, yet supported by the world's top doctors and experts."

The context

Turning lab testing into a tech-enabled subscription/membership offering is a novel approach, and we have to wonder when or even whether other laboratories around the world will follow suit. Add some fancy AI to the mix, and users can get a much better experience helping them stay healthy for longer. There's an idea.