Austin-based healthtech company Function Health has introduced its Medical IntellicenceLab to give its members a more detailed understanding of their health through its lab test services. The company also secured an oversubscribed Series B round totaling $298 million. Led by Redpoint Ventures, the raise brings Function’s valuation to $2.5 billion.
According to a news release, the MI Lab brings together clinicians, researchers and technologists to develop medical intelligence, a system that combines data from lab tests, imaging, wearables and medical records with insights from research and medical experts to encourage a proactive approach to health.
Following the announcement, Function members will gain access to three new tools: a private AI chat that provides personalized answers to health questions, health protocols that translate complex data into practical steps and the ability to upload medical records to help the AI deliver more accurate, tailored guidance.
Since 2023, Function members have completed over 50 million lab tests, and the company has been named a TIME100 Most Influential Company.
