Even Healthcare Bags $30 Mn in Series A Funding Led by Khosla Ventures

The startup plans to use the funds to expand hospital operations, improve patient care processes, and enhance its healthcare delivery system.

Even Healthcare, a Bengaluru-based healthcare startup, has raised $30 million in a Series A funding round led by Khosla Ventures.

Other participants in the round include Founders Fund, 8VC, and Lachy Groom. The startup plans to use the funds to expand hospital operations, improve patient care processes, and enhance its healthcare delivery system.

Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare offers free consultations, diagnostic tests, and other medical services through a network of owned and partner clinics.

Sharing thoughts, Vinod Khosla, founder of Khosla Ventures, said, "Modernized healthcare is essential to any country. Even is bringing high-quality, affordable care to one of the world’s largest populations, and we’re excited to partner with them as they boldly reimagine healthcare for India," Khosla said.

The startup, which has grown its customer base to hundreds of thousands, reported $28 million in revenue since its commercial launch 1.5 years ago. Even Healthcare focuses on both the B2B and B2C segments, with a customer retention rate of 95%.

Series of Investments

In November 2022, Even Healthcare raised $15 million from Alpha Wave and Aspada in a previous funding round.

Earlier, in 2021, Khosla Ventures led a seed round that brought in $5 million.

Co-founder Matilde Giglio emphasized the importance of maintaining consistent, high-quality care to build customer trust and loyalty.

"Our health plans have grown aggressively in both B2B and B2C segments, with a 95% customer retention rate. This positions us to deliver strong results in the years ahead," Giglio said.

Alessandro Ialongo, co-founder of Even Healthcare, stated that the company will continue to invest in its healthcare delivery systems, technology, and customer-friendly products.

"Expanding our hospital, clinic, and diagnostic networks while strengthening our team of doctors will enable us to reduce medical costs, enhance patient experience, and increase the overall value our members receive from the health system,” Ialongo added.

Even Healthcare is also leveraging artificial intelligence through its recent launch of "Even Steven," an AI-powered health assistant that provides patients with medically verified information.

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