Europe's leading data-driven health platform
Funmed was founded in 2014 in Gothenburg, Sweden, by Peter Martin, MD, PhD. The company has built a precision health platform that combines clinical care, proprietary technology, and structured data collection at scale. Through functional medicine, every patient is mapped with exceptionally broad diagnostics and treated based on the root cause of their ill health. We work from first principles: breaking down biological problems to their components and building treatment plans based on current science, not authorities or tradition.
The company has raised SEK 150M (~$14M), of which ~SEK 40M has been invested in the proprietary platform Funmed FMX, which powers clinical workflows, structured data capture, and longitudinal tracking across 5,860+ patients. Funmed has not yet begun to capitalise on its data asset and clinical outcomes, meaning the commercial potential is largely unrealised.
Peter Martin has 15 years of research experience in CNS pharmacology, throughout in close collaboration with Nobel laureate Arvid Carlsson. Co-founder of Carlsson Research, acquired by NeuroSearch in 2006 for approx. SEK 800M (~$80M). Member of the executive team 2000–2008.
Healthcare waits until you get sick.
Traditional healthcare is reactive. Patients with chronic fatigue, gut issues, hormonal imbalances, or autoimmune conditions are bounced between specialists without the root cause ever being identified.
At treatment start, Funmed patients have typically had a large number of healthcare visits. Nearly half report more than 10 visits, close to 30% more than 20 visits.
Functional medicine, a form of precision health, flips the equation: map the root cause with 250+ biomarkers, treat the cause, measure the result. Central to Funmed's method is systematically mapping and restoring gut health, the body's largest interface with the outside world, where all nutrients are absorbed and the majority of the immune system resides.
Three steps. Hundreds of data points per patient.
A structured process with broad diagnostics and objective follow-up. Primarily digital care, making the model scalable. Data and AI create additional efficiency potential.
Results that speak for themselves
Matched pre- and post-treatment data. See appendix for detailed methodology.
Productivity-relevant symptoms
All patients reporting symptoms (any severity) at start, matched to follow-up.
| Symptom | n | Improved | Resolved |
|---|---|---|---|
| Chronic fatigue | 725 | 65% | 31% |
| Brain fog | 599 | 59% | 29% |
| Impaired concentration | 778 | 56% | 26% |
| Anxiety | 818 | 55% | 24% |
| Low mood | 770 | 56% | 32% |
| General pain | 664 | 60% | 36% |
| Tension headache | 525 | 50% | 31% |
Biomarkers: objective measurements
You feel fine. But are you optimised?
Our data shows that patients who come to us for optimisation, not illness, have measurable deficiencies. In our optimiser cohort (363 patients, symptom score ≥3.5 out of 4):
One of the world's deepest clinical health databases
Over a decade of systematic data collection. Estimated replication cost ~SEK 100M (~$10M).
Estimated replication cost: ~SEK 100M
Cannot be bought. Requires thousands of patients completing full diagnostic and follow-up protocols over time.
3–17x estimated return on health investment
Based on Funmed's own outcome data, sick leave statistics, and Swedish health technology assessment thresholds. See appendix for full methodology.
Sick leave at treatment start
Share on sick leave within each self-rated health group.
A market in exponential growth
Why now?
Structured clinical data is the scarce resource.
1.6B aged 65+ by 2050. Prevention is the only way.
Proactive health. Willingness to pay is growing.
$12.5B into longevity since 2015.
They are valued in billions. Without Funmed's data.
Data comparison
| Funmed | Function | Neko | Parsley | Cleveland | |
|---|---|---|---|---|---|
| Biomarkers | 250+ | 160+ | ~20 | 50+ | 2 |
| Symptoms | 146 | No | No | 9 | 2 |
| Treatment data | Yes | No | No | Partial | Yes |
| Outcomes pre/post | Yes | No | No | Partial | 6 months |
| Data collection | 10+ yrs | ~2 yrs | ~2 yrs | ~3 yrs | ~10 yrs |
| Lab+symptoms | Yes | No | No | No | No |
Unrealised platform potential. Multiple revenue streams.
Estimated ROI 3–6x. Payback 3–6 months.
Predictive models. Licensable.
Digital training platform. 300+ trained. Protocol licensing.
Recurring revenue. Digital = scalable.
Real-world evidence. 5,860 patients.
Digital model + Academy = scalable internationally.
Want to learn more?
We are seeking strategic partners and investors who understand the value of clinical data and platform economics in precision health.
Detailed financial data, clinical documentation, and platform architecture available upon request.
Get in touch1. 82.8% improved: methodology
998 patients with matched Start and PostTreatmentSymptoms questionnaires. Per-category, per-patient methodology: all symptoms within a category (e.g., GI, energy, pain) are grouped. Each patient's average score change within the category is calculated. Improvement is counted when the average score increased (i.e., the patient got better). Scale 0–4 (0 = very severe, 4 = no symptoms). Result: 826 of 998 (82.8%) showed improvement. 26 of 998 (2.6%) worsened. 146 (14.6%) unchanged.
~70% severe symptoms: Patients with score 0–1 (severe) at start who achieved ≥2 after treatment. Average treatment duration ~6 months.
Symptom table: Includes all patients reporting symptoms of any severity (score <4) at start, matched to PostTreatment. "Improved" = score increase. "Resolved" = achieved score 4 (no symptoms).
Selection bias: PostTreatmentSymptoms introduced Aug 2023. Of 1,843 patients who started early enough, 958 (52%) completed the follow-up. This is the relevant response rate, not 998/5,860.
2. Biomarkers
Cross-lab analysis including Genova Diagnostics, Unilabs, and Synlab. Patients with ≥2 measurements per marker. Clinical thresholds: CRP >1 and ≤10 mg/L (low-grade inflammation), homocysteine >9 μmol/L (cardiovascular risk marker, B-vitamin deficiency), insulin >5 mIU/L (metabolic health), vitamin D <75 nmol/L (immune function). Improvement = change towards normal range.
3. Health economics
QALY: Proxy utility mapping from 5-level self-rated health (0=very poor → 4=very good) to utility values (0.30 / 0.50 / 0.65 / 0.80 / 0.90). Pre-treatment weighted utility: ~0.52. Post-treatment: ~0.69. QALY gain: 0.21–0.30 per patient. n = 1,022 matched patients. Average treatment period 6–7 months.
Cost per QALY: Treatment cost SEK 20,000–41,000 (depending on package) divided by QALY gain. Results in SEK 80,000–160,000 per QALY, well below the TLV (Swedish Dental and Pharmaceutical Benefits Agency) threshold of ~SEK 250,000.
Employer ROI (estimated): Based on productivity symptoms (fatigue, brain fog, concentration), improvement rates, and estimated productivity cost per employee. Range 3–6x depending on salary level and sick leave rate. Payback period estimated at 3–6 months.
Sick leave: Share on sick leave within each health group at start. n = 109 (very poor, 70%), 160 (poor, 44%), 135 (fair, 22%), 69 (good, 6%). Post-treatment data not yet available (identified data collection priority).
4. Market
Mordor Intelligence (Jan '26): longevity $31.6 → $46.9B 2026–2031, CAGR 8.18%. TBRC (Feb '26): longevity clinics $5.4 → $9.6B 2025–2030, CAGR 12.2%. IndustryARC: FM lab testing $5.6B 2025, CAGR 10% (2018–2025). HolonIQ Longevity Deep Dive: 75 companies, $12.5B raised since 2015. UN "Ageing" (2024): 1.6B aged 65+ by 2050.
5. Competitor valuations
Function Health: $2.5B post-money, Series B $298M Nov '25 (TechCrunch, Fierce Healthcare). Neko Health: $1.8B, Series B $260M Jan '25 (TechCrunch). Parsley Health: $311M post-money Jul '23, ~$143M total raised, backed by Kinnevik (11% stake, fair value SEK 167M Dec '22), in-network for 10M+ patients in the US. Cleveland Clinic FM: JAMA Network Open 2019, BMJ Open 2021 (Beidelschies et al.).
6. Other
Carlsson Research: co-founded by Peter Martin, acquired by NeuroSearch (Copenhagen) in 2006 for ~SEK 800M. Funmed Academy: digital training platform, 300+ licensed healthcare professionals trained. Optimiser cohort: 363 patients, symptom score ≥3.5/4, 65% female, median age 56. All clinical figures based on Funmed's internal database. Data as of March 2026.