Function Health

functionhealth.com →

-51%

est. 2Y upside i

HealthcareSeries B

Developer of a comprehensive health data platform intended to examine personal risk for disease. The company's platform helps with routine whole-body lab testing and personalized guidance from top doctors, enabling patients to stay healthy.

Rank

#3274

Sector

Health Technology

Est. Liquidity

~4Y

Data Quality

Data: Medium

The equity upside is heavily negative under base and bear cases due to the high current valuation (25x revenue) and preference overhang.

Last updated: July 19, 2026

Bull (30%)+20%

Exit multiple holds at 20x due to IPO window and category leadership, yielding exit value $3.36B; after preference, common stock returns 40% before dilution, net 20% after 20% dilution.

Base (50%)-74%

Exit multiple compresses to 8x in line with public comps, exit value $1.34B; preference leaves common with $993M for -53.8% return before dilution, net -73.8% after 20% dilution.

Bear (20%)-100%

Exit multiple falls to 3x, exit value $504M; after preference, common recovers only $153M for -92.9% return, and dilution pushes to -100%.

Est. time to liquidity~4.0 years

Preference Stack Risk

moderate

Funding Intensity

1404%

$351M in total funding with 1x non-participating preference, representing 14% of the $2.5B valuation.

Dilution Risk

high

With recent acquisitions and high burn, a Series C within 2 years is likely, diluting existing holders by ~20%.

Secondary Liquidity

none

No secondary trading has been reported; liquidity only upon IPO or acquisition.

Other — 2 roles

View all 2 open roles at Function Health →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Function Health's data — designed to show you've done your homework.

  • 1

    “How does Function Health plan to achieve profitability given high burn?”

  • 2

    “What is the strategy to fend off incumbents like Quest and big tech?”

  • 3

    “What is the expected timeline for IPO and how does that align with equity liquidity?”

Community

Valuation Sentiment

Our model estimates -51% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.