Even Healthcare, a managed care provider, has raised $30 million in a Series A funding round led by Khosla Ventures. Other investors include Lachy Groom, 8VC, and Founders Fund. The company now has $50 million in total funding thanks to this round.
Even stated in a press release that the new funds will be utilized to start hospital operations and scale patient care and resource procedures.
In 2021, Even Healthcare raised $5 million in seed capital led by Khosla Ventures, and in November 2022, it raised $15 million from Alpha Wave and Aspada.
Even Healthcare, which was founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, provides its members with cashless hospitalization, diagnostic testing, and free consultations through its in-house clinical team and insurance partners. The company claims that in exchange for a regular payment, it only collaborates with hospitals that promise to provide its members with care.
Along with individualized managed care plans, the platform also offers Even cards that can be used to pay for services at its affiliated labs and hospitals. offers unlimited OPD consultations and diagnostics, claiming to have an advantage over health insurance.
18 months after its commercial launch, Even Healthcare, which employs 300 people, says it has grown its membership base to hundreds of thousands and made $28 million (more than Rs 230 crore) in revenue.
Even Healthcare intends to establish three hospitals in Bengaluru that specialize in secondary care in the future. The goal of the move is to lower hospitalization risks through managed care and early risk profiling.
Even though India’s healthcare market grew at a 22% CAGR to reach $372 billion in 2022, only a small percentage of the population is still covered by private insurance.
