Bengaluru-based managed-care start-up Even Healthcare has secured $20 million in a fresh funding round led by existing investors Lachy Groom and Alpha Wave, with Sharrp Ventures joining as a new backer, as the company accelerates plans to expand its hospital network and scale its outcomes-led care model.
With this infusion, Even Healthcare’s total funding now stands at $70 million, and notably, the round has more than doubled the company’s valuation in less than a year, the company said on Monday.
The start-up plans to deploy the new capital to expand its hospital footprint in Bengaluru and further strengthen its integrated managed-care approach, which prioritises patient recovery and long-term health outcomes rather than driving higher hospital utilisation.
Meanwhile, alongside the funding announcement, Even revealed that its first hospital achieved operating break-even in under six months, a significantly faster timeline compared with the industry average, where hospitals typically take two to three years to reach operational profitability.
Founded by Mayank Banerjee and his co-founders, Even Healthcare runs a vertically integrated care model that seamlessly combines clinics, hospitals, teleconsultations, and at-home recovery services. Moreover, its care teams remain accountable throughout the entire patient journey, spanning early access and diagnostics to hospitalisation and structured post-discharge care, with the goal of preventing avoidable complications and readmissions.
“We’re proud of that milestone because it’s fast by hospital standards,” Banerjee, Co-founder of Even Healthcare, said. “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,” he added.
In addition, investor Lachy Groom highlighted the company’s ability to balance quality and financial discipline. “Managed care works when incentives are aligned around patient recovery, and Even has shown that this model can scale without compromising quality,” he said.
Furthermore, Even Healthcare released early clinical and operational data from a tracked patient cohort across its care network. The company reported zero unplanned 30-day readmissions across more than 350 surgeries, recorded no postoperative infections in the cohort, and achieved an average length of stay at least 40 percent shorter than comparable care settings. Additionally, the company said it avoided over 200 hospitalisations through closely monitored at-home recovery pathways.
Over the past year, Even has also delivered a 50 percent reduction in post-surgery readmissions, completed its first ESOP buyback in March 2025, and launched its first hospital in Bengaluru in May. By September 2025, the company reported a 92 percent online revenue retention rate, one of the highest in the healthcare sector, which underscores growing member confidence in its outcomes-first care model.
