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 July. Here is a list of some of the biggest funding rounds.
Function rakes in $450 million in funding
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 $450 million in growth funding is from General Catalyst’s Customer Value Fund. The financing will help Function “bring its platform to millions more people faster,” according to the announcement.
Chai Discovery raises $400 million in Series C funding
San Francisco-based Chai Discovery develops a computer-aided design suite for molecules. It trains models to learn the foundations of biochemical structure and interaction to help scientists design new medicines.
Its Series C raise was led by Index Ventures alongside Kleiner Perkins, Sequoia Capital and Dimension. Participation also included Bain Capital Ventures, Battery Ventures, Baillie Gifford, BDT & MSD, Sapphire Ventures, Avra Capital, Thrive Capital, OpenAI, Oak HC/FT, Menlo Ventures, General Catalyst, Glade Brook, Avenir, Lachy Groom and Yosemite. Chai Discovery is now valued at $3.8 billion.
Candid Health secures $120 million in Series D funding
San Francisco-based Candid Health serves medical groups, managed service organizations and digital health companies. Its AI-powered system automates medical billing and health insurance claims to help providers get paid more accurately and quickly. It supports more than 200 healthcare organizations, including Talkiatry, Tia, Luna, Cortica and Nourish. The funding will support continued investment in automation, accelerate development of agentic RCM solutions and grow its team, Candid Health said.
The Series D round was led by Sixth Street Growth, with participation from Oak HC/FT, 8VC and Y Combinator. This comes after a $52.5 million Series C raise in February 2025 led by Oak HC/FT. In total, Candid Health has raised about $219 million.
Pearl Health lands $110 million in funding
New York-based Pearl Health supports clinicians and care organizations in engaging in value-based care by offering AI-powered predictive insights, financial risk modeling and more efficient workflows. Its platform helps identify at-risk patients so providers can intervene early, and helps automate administrative processes like scheduling and post-discharge follow-ups.
The $110 million raise includes a $50 million equity investment led by Andreessen Horowitz with participation from Viking Global Investors, AlleyCorp and Ulysses Capital, as well as a $60 million debt facility led by Trinity Capital. With the funding, Pearl will expand its AI platform, as well as continue to grow via new health system and payer partnerships, and expand into Medicare Advantage.
Photo: Abscent84, Getty Images
