Integrated managed care provider Even Healthcare raises $20 million from Lachy Groom, Alpha Wave

Even Healthcare, a homegrown integrated managed care provider, has raised $20 million in a new funding round led by existing investors like Lachy Groom and Alpha Wave, and joined by new investors like Sharrp Ventures.

The round brings Even’s total funding to $70 million and more than doubles the startup's valuation in under 12 months.

Even Healthcare will use the capital to expand its hospital footprint in Bengaluru and scale its managed-care model, which is designed to optimise patient recovery and outcomes rather than hospital utilisation. Care teams remain accountable across the full patient journey, from early access through 24/7 teleconsultations and coordinated diagnostics to hospitalisation when needed and structured recovery support at home, helping prevent avoidable complications and admissions.

With this announcement, the startup  also reported that its first hospital reached operating break-even in under six months.

Commenting on the news, 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.”

In early 2025, the startup reported a 50% reduction in post-surgery hospital readmissions and completed its first ESOP buyback in March. In May 2025, Even launched its first hospital in Bengaluru, marking its transition to a fully integrated managed-care provider.