Even Healthcare secures $20 million funding, hits break-even in six months

Even Healthcare has raised $20 million in fresh funding to expand its managed-care hospital network in Bengaluru, the company said on Monday, while also reporting that its first hospital achieved operating break-even in under 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, Even Healthcare’s total funding has reached $70 million, and the company’s valuation has more than doubled over the past year.

The Bengaluru-based healthcare startup said the capital will be used to scale its hospital footprint and strengthen its managed-care model, which focuses on patient recovery and outcomes rather than maximising hospital utilisation. The model integrates care across the patient journey, including 24/7 teleconsultations, diagnostics, hospitalisation when required, and monitored recovery at home, aimed at reducing avoidable admissions and complications.

Alongside the fundraising, Even Healthcare said its first hospital reached operating break-even in less than six months — a timeline significantly shorter than the industry average of two to three years.

Commenting on the milestone, Mayank Banerjee, co-founder of Even Healthcare, said the company’s model is designed to reduce unnecessary admissions, prolonged hospital stays and avoidable return visits, while maintaining sustainable economics.

“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," Banerjee said. 

Investor Lachy Groom said Even’s ability to combine early profitability with improved clinical outcomes demonstrates that managed care can scale without compromising quality.

The company also released early performance data from a tracked patient cohort across its care network. It reported zero unplanned 30-day readmissions across more than 350 surgeries, no post-operative infections in the cohort, and over 200 avoided hospitalisations through monitored at-home recovery pathways. Even said the average length of hospital stay was at least 40% shorter than comparable settings for similar treatments.

Over the past year, Even Healthcare has reported a reduction in post-surgery readmissions, completed its first ESOP buyback, launched its first hospital in Bengaluru in May 2025, and achieved a 92% online revenue retention rate by September 2025.

Founded in 2020, Even Healthcare operates a membership-based managed-care model offering consultations, diagnostics and cashless hospitalisation through a vertically integrated system.