Even Healthcare
Corporate brand
UnclaimedAn Indian managed healthcare company combining subscription-based care, primary and secondary services, clinics, hospitals, and partner facilities.
Last updated October 19, 2026
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Overview
Even Healthcare is a Bengaluru-based managed healthcare company founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo. The company developed a subscription-oriented model intended to integrate preventive care, primary care, and access to secondary healthcare rather than treating medical services as a series of disconnected transactions. Its operating approach combines digital health coordination with a growing physical network of clinics, direct hospital operations, and relationships with external hospitals. The founders had previously collaborated on media and technology ventures in the United Kingdom and the United States, including the journalism startup Compass News. Even initially pursued a relatively asset-light, digital-first strategy, using technology and care coordination to support members and connect them with clinical services. This model placed emphasis on prevention, continuity of care, and managing a patient's broader healthcare journey rather than relying principally on episodic procedures. In January 2023, Even established a medical advisory board to help define clinical protocols and strengthen its clinical governance. The board included Dr. Martin Gilbert, formerly associated with Boston Consulting Group, and Dr. Abha Agarwal, chief medical officer at Humboldt Park Health. The creation of the board marked an effort to give the company's technology-led model a more formal clinical framework. The company subsequently moved beyond its initial asset-light structure. In 2025, it began operating its own physical infrastructure, opening Even Hospital, a 70-bed multispeciality facility in Bengaluru. The hospital was presented as part of a managed-care model in which provider compensation is aligned more closely with health outcomes than with the volume of procedures performed. This represents a significant strategic shift: Even's role expanded from coordinating or arranging care to directly operating a hospital while retaining its broader subscription and network-based proposition. By September 2025, the company reported a Bengaluru network of six clinics and partnerships with more than 100 third-party hospitals. In early 2026, it announced plans to expand its managed-care hospital network to 25 facilities over the subsequent 36 months. The stated strategy therefore combines owned infrastructure with external partnerships, allowing Even to increase control over care delivery while maintaining a broader referral and access network. Even has been financed by venture capital investors including Khosla Ventures, Alpha Wave Global, Aspada, 8VC, Founders Fund, Sharrp Ventures, and others. Reference material states that the company had raised approximately US$80 million in venture capital by early 2026, including seed, bridge, Series A, and extended Series A financing. Because Even is privately held, it does not have a public stock ticker or publicly traded shares. The company operates in India's healthcare market, with the available material specifically documenting activity in Bengaluru. Its principal positioning is as a managed-care provider seeking to align payment, clinical coordination, and provider incentives around longer-term health outcomes.
History
Even Healthcare was established in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo. Before founding the company, Banerjee and Giglio had worked together on media and technology projects in the United Kingdom and the United States, including Compass News, a journalism startup. Their later healthcare venture applied a technology-oriented approach to a sector characterized by fragmented providers, episodic treatment, and uneven continuity between primary and secondary care. The company's initial model was digital-first and relatively asset-light. Rather than beginning with a large owned hospital estate, Even focused on subscription-based healthcare and the coordination of preventive and primary services. The subscription structure was intended to support an ongoing relationship with members, while the network model allowed the company to connect patients with appropriate clinics, hospitals, and other clinical resources. Its proposition was therefore closer to managed care than to a conventional single-specialty provider or stand-alone hospital brand. In January 2023, Even created a medical advisory board to define clinical protocols and provide additional clinical oversight. The reported members included Dr. Martin Gilbert, formerly of Boston Consulting Group, and Dr. Abha Agarwal, chief medical officer at Humboldt Park Health. This step was important for a company whose model depended not only on software and member services but also on consistent standards across a distributed clinical network. Even's growth strategy later moved toward physical infrastructure. In 2025, the company opened Even Hospital in Bengaluru, a 70-bed multispeciality facility. The hospital represented the company's transition from coordinating care through digital and partner channels to operating a healthcare facility directly. Its managed-care approach was described as linking provider compensation to health outcomes rather than simply rewarding the number of procedures delivered. This positioning distinguishes the hospital strategy from a purely fee-for-service orientation, although the available reference material does not provide detailed clinical or financial performance data. By September 2025, Even reported six clinics in Bengaluru and partnerships with approximately 100 third-party hospitals. The combination of owned clinics, a directly operated hospital, and external hospital partnerships gives the company several ways to broaden access while retaining a managed-care identity. In early 2026, it announced an ambition to expand its managed-care hospital network to 25 facilities during the following 36 months, signaling a further shift toward a multi-site provider platform. The company's financing history reflects venture-backed expansion. Reference material identifies a US$5 million seed round led by Khosla Ventures in 2021, a US$15 million bridge round in 2022 involving Alpha Wave Global and Aspada, and a US$50 million Series A completed in two 2024 tranches. An additional US$20 million extended Series A round was raised in January 2026, led by Lachy Groom and Alpha Wave Global. Other identified institutional investors include 8VC, Founders Fund, and Sharrp Ventures. The company also conducted a reported US$500,000 secondary transaction in 2025 to facilitate an employee stock ownership plan buyback. These figures describe private financing and are not public-market revenue or valuation data. As of the latest supplied material, Even Healthcare remains an active private company headquartered in Bengaluru and focused on the Indian market, with documented operations centered on Bengaluru. Its defining strategic theme is the integration of subscription healthcare, clinical protocols, provider networks, and owned infrastructure under an outcome-oriented managed-care framework.
- 2026
Extended Series A financing
[1]Even raises a reported additional US$20 million from an extended Series A round led by Lachy Groom and Alpha Wave Global.
- 2026
Managed-care hospital expansion plan
[1]Even announces an objective of reaching 25 managed-care hospitals over the next 36 months.
- 2025
First direct hospital opens
[1]Even opens a 70-bed multispeciality hospital in Bengaluru and begins expanding into direct facility operations.
- 2025
Employee stock ownership plan transaction
[1]The company conducts a reported US$500,000 secondary transaction connected with an employee stock ownership plan buyback.
- 2024
Series A financing completed
[1]The company completes a reported US$50 million Series A in two tranches, both led by Khosla Ventures.
- 2023
Medical advisory board established
[1]Even creates a medical advisory board to help formulate clinical protocols.
- 2022
Bridge financing
[1]Even raises a reported US$15 million bridge round with participation from Alpha Wave Global and Aspada.
- 2021
Seed financing led by Khosla Ventures
[1]The company raises a reported US$5 million seed round led by Khosla Ventures.
- 2020
Even Healthcare is founded
[1]Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo co-found Even Healthcare in India.
Products and positioning
Outcome-oriented managed healthcare combining subscriptions, preventive and primary care, coordinated secondary care, owned clinics, direct hospital operations, and third-party provider partnerships.
Healthcare membership · 2020
Subscription-based healthcare
Even's core proposition is a subscription-based healthcare model designed to support continuing access to preventive, primary, and secondary care. Rather than limiting the relationship to individual consultations or procedures, the model is intended to coordinate a member's care journey across clinics, hospitals, and partner facilities. The available material does not specify subscription prices, plan tiers, or detailed benefits.
Primary healthcare · 2020
Primary and preventive care
The company began as a digital-first provider focused on preventive and primary care. These services form the entry point for its managed-care model, with the broader objective of identifying healthcare needs earlier and coordinating patients with appropriate clinical resources. Even's medical advisory board was established to support the protocols underlying this care model.
Multispeciality hospital · 2025
Even Hospital
Even Hospital is the company's first directly operated hospital. The 70-bed multispeciality facility in Bengaluru marked Even's move from a primarily asset-light and partner-based structure into direct infrastructure ownership or operation. It is positioned within a managed-care framework that seeks to align provider compensation with health outcomes rather than procedure volume.
Healthcare provider network · 2020
Clinic and partner-hospital network
Even combines company-operated clinics with relationships involving third-party hospitals. By September 2025, the reported network included six clinics in Bengaluru and more than 100 partner hospitals. This network allows the company to extend service access beyond its own facilities while maintaining a coordinated managed-care proposition.
Brand decisions
2026
Plan a 25-facility managed-care hospital networkStrategyBackground
After opening its first directly operated hospital, Even aimed to scale the physical component of its managed-care platform.
Action taken
The company announced an intention to expand its managed-care hospital network to 25 facilities over the following 36 months.
Aftermath
The plan positioned Even for a larger multi-site provider role in India, although the supplied material does not confirm completion milestones beyond the first hospital.
2025
Move from an asset-light model into direct hospital operationsStrategyBackground
Even sought greater control over care delivery after initially operating through a digital platform and external provider relationships.
Action taken
The company opened Even Hospital, a 70-bed multispeciality facility in Bengaluru, and applied its managed-care approach to a directly operated hospital.
Aftermath
Even reported six clinics and more than 100 partner hospitals by September 2025 and subsequently outlined plans to reach 25 managed-care hospitals.
2023
Formalize clinical governance through a medical advisory boardStrategyBackground
Even's digital-first managed-care model required consistent clinical protocols across its services and provider relationships.
Action taken
The company established a medical advisory board, with reported members including Martin Gilbert and Abha Agarwal, to help define clinical protocols.
Aftermath
The board provided a formal clinical-governance layer as Even expanded beyond digital coordination and into clinics and hospital operations.
Recent events
Sources3 sources
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