Even Healthcare has announced $20 million in new funding, led by existing investors Lachy Groom and Alpha Wave, with participation from new investor Sharrp Ventures. The latest round brings the company’s total funding to $70 million and more than doubles its valuation within a 12-month period.
The company stated that the capital will be used to expand its hospital footprint in Bengaluru and scale its managed-care model. The model focuses on patient recovery and outcomes rather than hospital utilisation. Care teams are accountable across the patient journey, including early access through 24/7 teleconsultations, coordinated diagnostics, hospitalisation when required, and recovery support at home. The approach is intended to reduce avoidable complications and hospital admissions.
Alongside the funding announcement, Even Healthcare reported that its first hospital reached operating break-even in under six months. According to the company, this reflects the functioning of its managed-care approach, which aligns clinical and financial incentives around continuity of care, early intervention, and monitored recovery.
Commenting on the development, 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.”
Even Healthcare also released early results from a tracked cohort across its hospital and care network. The company reported zero unplanned 30-day readmissions across more than 350 surgeries and zero post-operative infections within the tracked group. It also reported more than 5,000 outpatient visits delivered through clinics and hospital teams, over 200 avoided hospitalisations through monitored at-home recovery pathways, and an average length of stay at least 40 per cent shorter than comparable settings for similar case mixes.
Over the past year, the company reported a reduction of 50 per cent in post-surgery hospital readmissions in early 2025 and completed its first ESOP buyback in March 2025. In May 2025, Even Healthcare launched its first hospital in Bengaluru, marking its entry into hospital-based care delivery. By September 2025, the company reported a 92 per cent online revenue retention rate, which it attributed to member continuity within its care model.