August 22, 2026 · Platform news · Function Health · General Catalyst

What happened

In an announcement dated July 30, 2026, Function said it had closed $450 million in growth financing from General Catalyst's Customer Value Fund. Function's own release describes the capital as funding the next phase of its expansion, and states its membership at $365 a year for more than 160 lab tests with testing twice annually, alongside MRI and CT imaging for under $1,000 at more than 200 locations nationwide. HIT Consultant, covering the same announcement, characterizes the financing as non-dilutive and repeats the $365 and 160-plus figures. MedCity News reports the round arrived roughly eight months after a $298 million Series B, taking Function past $800 million raised since its 2023 launch, and that members have completed more than 100 million lab tests over three years. Function also named two second-quarter acquisitions: Getlabs, a nationwide at-home and in-office blood draw network, and SuppCo, a supplement platform.

The short version

This is a distribution round, not a science round. Non-dilutive capital raised through a customer-value vehicle is money to go get customers with, and the most likely place a buyer will feel it is the price list and the volume of offers — not the panel. The genuinely structural item is quieter: with Getlabs for draws, Ezra for imaging and SuppCo for supplements, Function now owns most of the chain between your blood and your shopping cart. That is convenient, and it is also more surface for upsell inside one company's app. Nothing here is evidence that the testing is more useful than it was in July.

What it means for you

Start with the number that actually moved. Function's own announcement puts the membership at $365 a year for 160-plus tests, twice annually. Several of our platform pages, written earlier, describe a $499 membership covering 100-plus markers, and we are re-verifying them against Function's live checkout rather than against a press release. If you are comparing today, do not take either figure from us on faith: open the vendor's own page, and note which tier the price buys, how many draws it includes, and what the renewal costs. Introductory and promotional pricing is exactly the thing a customer-acquisition war chest tends to produce, and the renewal is what you pay for every year after the first. Our Function Health cost breakdown exists to separate the entry price from the realistic all-in, and that distinction matters more, not less, in a discounting cycle.

Then read the acquisitions, because they say more about the next twelve months than the dollar figure does. Getlabs addresses the single most common friction in consumer blood testing — physically getting the draw done — by bringing a mobile phlebotomy network in-house. Ezra, acquired in May 2025, gives Function its own imaging arm, which is why our Prenuvo versus Ezra comparison already treats Ezra as Function-owned. SuppCo puts a supplement layer at the end of the funnel. Stacked together, that is a platform designed so a marker flagged on your dashboard has a Function-owned next step waiting for it. Whether that reads as convenience or as a conflict depends on how much you want the company interpreting your results to also be selling you the response to them. It is a fair thing to weigh, and it is the reason our methodology scores who reviews results separately from what the panel contains.

Finally, resist the inference the round invites. Well-funded is not the same as well-validated. The questions that decide whether a comprehensive panel is worth $365 or $499 to you are unchanged by this news: does testing 160 markers twice a year surface anything you or a clinician will act on, do you have a physician who will read the report, and does the platform prescribe or merely inform. Function does not prescribe, which is the fork that sends some readers toward the physician-led programs on our doctor-led options page instead. A larger balance sheet does not change that fork; it just funds more advertising on both sides of it.

How this fits what we already know

Function has been the volume leader among the membership panels on our platform hub, and its closest price-and-panel comparison has been Superpower — a matchup we break down in Function Health versus Superpower. Capital of this size, aimed squarely at customer acquisition, likely widens that gap on distribution while leaving the underlying product comparison roughly where it was. It also lands in the same season as WHOOP opening lab testing to non-members, covered in our earlier briefing: two well-funded companies both moving to sell comprehensive blood panels to people who are not yet their customers. Competition of that kind usually helps buyers on price and access, and it does not resolve the older question of what all this testing is for. We will update the figures on our Function pages once they are confirmed against the company's live checkout.

Sources

  • Function, "Function Secures $450 Million Growth Financing from General Catalyst's Customer Value Fund (CVF)," July 30, 2026, PR Newswire (accessed August 22, 2026).
  • HIT Consultant, "Beyond Annual Physicals: Function Secures $450M Growth Financing from General Catalyst," August 3, 2026, hitconsultant.net (accessed August 22, 2026).
  • MedCity News, "Why General Catalyst Is Betting $450M on Function Health's Preventive Care Push," July 2026, medcitynews.com (accessed August 22, 2026).

Frequently Asked Questions

Does a $450 million raise mean Function Health is a better test?

No. Capital and clinical validity are unrelated. A financing round says investors expect the company to acquire customers profitably; it says nothing about whether a given biomarker panel changes what happens to your health. Judge the product on marker coverage, who reviews your results, retest cadence and total cost — the same four columns we use for every platform on the hub.

What is a Customer Value Fund and why does it matter to a buyer?

General Catalyst's Customer Value Fund is the vehicle that provided the $450 million, and HIT Consultant describes the financing as non-dilutive. Capital raised specifically against customer acquisition tends to show up as marketing and promotional pricing rather than as R&D. For a buyer, the practical read is to expect more offers and more discounting, and to price the product on what it costs in year two rather than on an introductory figure.

Is Function Health's membership $365 or $499 a year?

Function's own July 30, 2026 announcement states $365 a year for 160+ lab tests with testing twice annually, and HIT Consultant's coverage of the same announcement repeats those figures. Some of our own platform pages still carry an earlier $499 figure for a 100+ marker panel, and we are re-checking them. Until a page says otherwise, take the price from Function's own checkout on the day you buy — that is the only figure that binds.

What did Function Health buy with its acquisitions?

Per the July 30, 2026 announcement, Function acquired Getlabs, a nationwide at-home and in-office blood draw network, and SuppCo, a supplement platform, in the second quarter of 2026. It had earlier acquired the imaging company Ezra, in May 2025. The direction is vertical integration: draws, imaging and supplements brought in-house rather than brokered to third parties.

Should I wait to buy while the company is expanding?

There is no testing reason to wait and no testing reason to hurry. Rapid expansion changes the price list, the draw network and the upsell menu more often than it changes the assay running your sample. If a promotional price is what makes the membership worth it to you, confirm what the renewal costs before you enroll, because the renewal is the number you will pay every year after the first.