Key Takeaways
- • Even Healthcare, a Bengaluru-based managed care startup, raised US$50 million in a Series B round led by existing investor Khosla Ventures, with Alpha Wave participating, according to Tech in Asia.
- • The company says total funding now exceeds US$120 million, following an earlier US$20 million round used to fund expansion.
- • Even plans to use the new capital to open five hospitals in Bengaluru within the next six months.
- • The startup reports serving more than 250,000 members across 10 cities, with unplanned readmissions below 1% in insurer-partner programs during its first full year of managed care.
- • Reported valuation of about US$300 million, per secondary coverage, implies a significant premium for a platform whose hospital operations were reported as loss-making in one account.
Summary
Even Healthcare, a Bengaluru-based managed care startup, has raised US$50 million in a Series B round led by Khosla Ventures, with participation from Alpha Wave, according to Tech in Asia. The company said the round takes its total funding to more than US$120 million. It follows an earlier round in which Even raised US$20 million to support expansion.
Even said it will use the new capital to open five hospitals in Bengaluru within the next six months. The startup said it serves more than 250,000 members across 10 cities. For its first full year of managed care, Even reported that unplanned readmissions in programs run with insurance partners were below 1%. It also said average hospital stays were 40% shorter, although the announcement did not specify the comparison baseline.
Other coverage cites a valuation of about US$300 million and describes Khosla Ventures as an existing investor. One report puts the company's Series B at about INR 208.24 crore, with Khosla Ventures contributing INR 145 crore, though the figures are not reconciled with the US$50 million headline amount in the available material. Commentary on the round has also noted that the company's two hospitals reported about INR 27 crore in revenue and INR 90 crore in losses, a detail that appears in secondary analysis rather than the company announcement.
Even said it will use the new capital to open five hospitals in Bengaluru within the next six months. The startup said it serves more than 250,000 members across 10 cities. For its first full year of managed care, Even reported that unplanned readmissions in programs run with insurance partners were below 1%. It also said average hospital stays were 40% shorter, although the announcement did not specify the comparison baseline.
Other coverage cites a valuation of about US$300 million and describes Khosla Ventures as an existing investor. One report puts the company's Series B at about INR 208.24 crore, with Khosla Ventures contributing INR 145 crore, though the figures are not reconciled with the US$50 million headline amount in the available material. Commentary on the round has also noted that the company's two hospitals reported about INR 27 crore in revenue and INR 90 crore in losses, a detail that appears in secondary analysis rather than the company announcement.
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