Even Healthcare, an integrated managed care provider, has raised $20 million in a new funding round led by existing investors Lachy Groom and Alpha Wave, with participation from Sharrp Ventures.
The round brings Even’s total funding to $70 million and more than doubles the company’s valuation in under 12 months. In October 2024, Even Healthcare raised $30 million in Series A round led by Khosla Ventures. from participation from Founders Fund, 8VC, and Lachy Groom among others.
The fresh funds raised will be used to expand its hospital footprint in Bengaluru and scale its managed-care model.
Founded in 2020 by Mayank Banerjee (CEO), Matilde Giglio (COO), and Alessandro Davide Ialongo (CTO), Even Healthcare is a Bengaluru-based managed care provider. Its managed-care model is designed to optimise patient recovery and outcomes rather than hospital utilisation.
Care teams remain accountable across the full patient journey, from early access through 24/7 teleconsultations and coordinated diagnostics to hospitalisation when needed and structured recovery support at home, helping prevent avoidable complications and admissions.
Over the past year, Even Healthcare has demonstrated strong momentum across clinical outcomes and operational execution. In early 2025, the company reported a 50% reduction in post-surgery hospital readmissions and completed its first ESOP buyback in March.
In May 2025, Even launched its first hospital in Bengaluru, marking its transition to a fully integrated managed-care provider. By September 2025, the company achieved a 92% online revenue retention rate, among the highest in the healthcare sector, reflecting growing member trust and the impact of its outcomes-first model. The company also reported that it reached operating break-even in under six months.
Alongside the funding, Even Healthcare published early results from a tracked cohort across its hospital and care network:
- 0 unplanned 30-day readmissions across 350+ surgeries
- 0 post-operative infections in the tracked cohort
- 5,000+ OPD visits delivered via clinics and hospital teams
- 200+ avoided hospitalisations through monitored at-home recovery pathways
- Average Length of Stay at least 40% shorter than typical comparable settings for similar case mixes
Mayank Banerjee, Co-Founder, 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: Even’s model is structurally designed to reduce what many hospitals are paid to maximize – unnecessary admissions, long stays, and avoidable return visits. This tells us you can build a hospital that keeps people healthier, puts patients first, and still run a strong business.”
Lachy Groom said, “We continue to back Even because the company is demonstrating something rare in healthcare: strong clinical outcomes alongside early unit-level profitability. Managed care works when incentives are aligned around patient recovery, and Even has shown that this model can scale without compromising quality. 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.”
