Editor’s Note: This roundup is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Health tech companies made several major funding announcements in November. Here is a list of some of the biggest funding rounds.
Function Health raises $298 million in Series B funding
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Austin, Texas-based Function Health is a platform that gives consumers access to more than 160 different lab tests, including for hormones, heart health, immunity and metabolism. An annual subscription to the platform costs $365.
Its Series B round was led by Redpoint Ventures. Other investors include Nat Friedman and Daniel Gross’ NFDG, a16z, Aglaé Ventures and Alumni Ventures. In total, the company has raised $350 million and it now has a valuation of $2.5 billion.
Hippocratic AI secures $126 million in Series C funding
Palo Alto, California-based Hippocratic AI builds non-diagnostic patient-facing AI agents. Its agents help with tasks like appointment scheduling, patient intake history, eligibility and benefit confirmations and more.
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Its Series C round was led by Avenir Growth and included participation from CapitalG, General Catalyst, Andreessen Horowitz (a16z), Kleiner Perkins, Premji Invest and Universal Health Services. The company has raised $404 million to date and is now valued at $3.5 billion. The funding will help the company deepen its customer deployments, invest in product development and pursue mergers and acquisitions.
Tala Health pulls $100 million
Tala Health, based in San Francisco, is a venture of holding company Titan Holdings. Tala supports clinicians by deploying AI agents “across the full patient journey.” Patients can access Tala Health’s services 24/7 through its virtual care platform and get referred to clinicians when needed.
The company’s funding was led by Sofreh Capital. The financing will help “expand its AI and clinical teams, accelerate product development, and expand partnerships with leading healthcare institutions to bring its AI-powered platform to more patients and providers across the U.S.,” according to the announcement.
Beacon Biosignals raises $86 million in Series B funding
Boston-based Beacon Biosignals offers FDA-cleared wearable EEG technology and AI to analyze neural data to support breakthroughs in neurology, psychiatry and sleep medicine. Its Waveband device, for example, measures the brain’s electrical activity during sleep and while awake. It works with clinicians and biopharma partners to advance research, improve diagnostics and develop new treatments.
The funding was from Innoviva, Google Ventures (GV), Nexus NeuroTech Ventures, S32, Catalio Capital Management, Takeda, General Catalyst, Logos Capital, Casdin Capital and Indicator Ventures. In total, Beacon has raised $121 million. With the funding, the company will scale its technology and operations to “accelerate neurobiomarker discovery and broaden clinical adoption,” the announcement stated.
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