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Even Healthcare has raised USD 20 million in fresh funding to expand its managed-care hospital network in Bengaluru, marking a key milestone for the healthtech startup as it reported operating break-even at its first hospital within six months of launch.
The funding round was led by existing investors Lachy Groom and Alpha Wave, with participation from new investor Sharrp Ventures. With this round, the company's total funding has reached USD 70 million, and its valuation has more than doubled in less than a year.
The Bengaluru-based company had previously raised USD 30 million in a Series A round in October 2024, led by Khosla Ventures, with backing from Founders Fund, 8VC, and Lachy Groom. In March this year, Even Healthcare also announced its first employee stock ownership plan (ESOP) buyback.
According to the company, the new capital will be used to expand its hospital footprint in Bengaluru and scale its managed-care model. This approach focuses on patient recovery and outcomes rather than hospital utilisation. Care teams are responsible for patients throughout their journey, starting from early access and 24/7 teleconsultations to diagnostics, hospitalisation when required, and structured recovery support at home.
Mayank Banerjee, co-founder of Even Healthcare, said, "We're proud of that milestone because it's fast by hospital standards – many hospitals take 2 to 3 years to reach operating break-even. What matters even more is how we got there."
Alongside the funding announcement, Even Healthcare released early performance data from a tracked cohort across its hospital and care network. The company reported zero unplanned 30-day readmissions across more than 350 surgeries and no post-operative infections in the tracked group. It also recorded over 5,000 outpatient visits and said more than 200 hospitalisations were avoided through monitored at-home recovery pathways. Average length of stay was at least 40% shorter than comparable settings for similar cases.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare operates a vertically integrated managed-care model. Through its innovative membership model, Even offers free consultations, diagnostic tests, and cashless hospitalisation, supported by a vertically integrated "payvider" approach that prioritises preventative and outcome-led care. In May 2025, it launched its first hospital in Bengaluru, transitioning into a fully integrated care provider.
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