Function, a membership-based testing platform, raised $45 million in an investment round led by Andreessen Horowitz Bio + Health, CEO Mark Hyman tells Axios.
Why it matters: Wearable devices, body scans and membership-based wellness platforms have become increasingly popular as patients seek personalized care.
Zoom in: Founded in 2023, the Austin startup backed by celebrities has raised $53 million between its seed and A round.
Its investors include Embiid Ventures, and celebrities and athletes such as Blake Griffin, Zac Efron, Jimmy Rollins and Colin Kaepernick.
How it works: Function's membership — which costs $499 annually and isn't covered by insurance — lets patients schedule a 15-minute lab test with more than 2,000 laboratories.
Function claims to track biomarkers for heart conditions, thyroid function, nutrition, cancer signals, immunity, aging factors, autoimmunity, metabolic function and sexual health.
Yes, but: The American College of Preventive Medicine has cited unnecessary tests as a barrier to appropriate and quality care.
Meanwhile, Function's high price point and roster of celebrity backers prompt the question of what patient demographic this offering is geared toward, given persistent inequities in care access in the U.S.
The other side: "Even if you want to get this by some other means, in principle, you could, but it typically would be a concierge doctor," Vijay Pande, a partner at Andreessen Horowitz, says.
