Function Health raised $298 million in a Series B led by Redpoint Ventures, pushing its valuation to about $2.5 billion. The consumer lab‑testing company plans to expand its direct‑to‑consumer testing and data services and invest in product breadth and infrastructure. The round underscores continued investor interest in at‑home and consumer‑centric diagnostic platforms that monetize health data and testing frequency. Function’s scale raise positions it to compete with incumbents in retail and digital health channels and to accelerate partnerships with clinics and payers.