Even Healthcare, a managed care provider, has raised $30 million in a Series A fundraising round led by Khosla Ventures. Other investors include Lachy Groom, 8VC, and Founders Fund. The company now has $50 million in total capital thanks to this round.

Even stated in a news statement that the fresh funds will be utilized to start hospital operations and scale patient care and resource procedures.

This round was covered exclusively by Entrackr in August. In 2021, Even Healthcare raised $5 million in startup finance sponsored by Khosla Ventures, and in November 2022, it raised $15 million from Alpha Wave and Aspada.

Even Healthcare was established in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo. Through its in-house clinical team and insurance partners, the organization provides its members with free consultations, diagnostic testing, and cashless hospitalization. The organization claims that it only collaborates with medical facilities that promise to provide its members with care in return for a regular payment.

Additionally, the platform provides Even cards that can be used to pay bills at its affiliated laboratories and hospitals, as well as customized managed care plans. It asserts that it has an edge over health insurance by providing limitless OPD testing and consultations.

Even Healthcare, which employs 300 people, says it has attracted hundreds of thousands of users and made $28 million (more than Rs 230 crore) in revenue rise just 18 months after going on sale.

In the future, Even Healthcare intends to establish three hospitals in Bengaluru that specialize in secondary care. Through managed care and early risk profiling, the initiative seeks to lower the likelihood of hospitalization.

Private insurance still only covers a small percentage of the population, even though the healthcare market in India was valued at $372 billion in 2022 and was expanding at a CAGR of 22%.