Function Health secures $450M growth capital from General Catalyst

Function Health/Function Membership

Function Health announced $450M in growth capital from General Catalyst's Customer Value Fund, structured against customer-acquisition spend rather than traditional equity. The company had reached 100M+ lab tests completed and 200K+ members.

• $450M from General Catalyst's Customer Value Fund (capital drawn against customer acquisition economics).
• Company had completed 100+ million lab tests total since 2023 launch.
• CEO Jonathan Swerdlin indicated openness to acquisitions aligned with making healthy living accessible.
• Total raised to date exceeds $800 million since 2023 public launch.