Bengaluru-based health technology company Even Healthcare has raised $30 million in its Series A funding round led by Silicon Valley-based Khosla Ventures.
The round saw participation from other US-based investors such as Founders Fund, 8VC and Lachy Groom, the company said in a statement.
The latest infusion, which brings the company’s total funding to $50 million, will be used to launch hospital operations in Bengaluru and scale up patient care and recourse processes, the statement added.
“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,” said Matilde Giglio, co-founder of Even Healthcare.
Founded in 2020 by Giglio, Mayank Banerjee, and Alessandro Ialongo, Even Healthcare provides its members with unlimited free consultations, diagnostics tests, and cashless hospitalisation through its in-house clinical team, and insurance partners.
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 just 18 months after its commercial launch.
“To sustain this momentum, we will continue to invest in our 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,” said Ialongo.
Going forward, Even Healthcare plans to open three secondary-care-focused hospitals in Bengaluru.
