Even Healthcare has secured twenty million dollars in a new funding round. Existing investors Lachy Groom and Alpha Wave led the investment. Even Healthcare has raised $20 million in a funding round led by existing investors Lachy Groom and Alpha Wave, with participation from new investor Sharrp Ventures.
The latest round takes the Bengaluru-based company’s total funding to $70 million, the company said in a statement on Tuesday.
The fresh capital will be used to expand its hospital footprint in Bengaluru and deepen its managed-care hospital model, which focuses on improving patient recovery and outcomes.
“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: Even’s model is structurally designed to reduce what many hospitals are paid to maximize – unnecessary admissions, long stays, and avoidable return visits,” said Mayank Banerjee, co-founder, Even Healthcare.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare operates a membership-led, vertically integrated payvider model that combines primary, preventive, and hospital care.
Over the past year, the company claims to have reported a 50 per cent reduction in post-surgery readmissions, completed an ESOP buyback, and launched its first hospital in Bengaluru.
“We continue to back Even because the company is demonstrating something rare in healthcare: strong clinical outcomes alongside early unit-level profitability. Their ability to reach break-even in under six months while reducing avoidable hospitalisations gives us confidence that this is a business worth doubling down on,” said Lachy Groom in a statement.
The company is backed by investors including Khosla Ventures, Founders Fund, and 8VC.
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