Even Healthcare
Overview
Even Healthcare is an innovative healthtech company offering a comprehensive managed care model distinct from traditional insurance. Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, it operates out of Bengaluru, India. Even Healthcare aims to enhance healthcare accessibility and affordability by integrating diagnostics, consultations, and emergency hospital care into subscription-based plans. The company has raised over $50 million in funding, with major backers including Khosla Ventures, Founders Fund, and Alpha Wave.
Recent Developments
In 2024, Even Healthcare secured $30 million in a Series A funding round led by Khosla Ventures, with participation from Founders Fund and 8VC. This funding round aimed to expand their operations, notably to open three secondary-care-focused hospitals in Bengaluru.
- October 2024: The funding round raised Even's total capital to $50 million, supporting its mission to integrate hospital operations and scale patient care services.
- August 2024: A further investment of $20 million highlighted continued investor confidence in Even’s unique “payvider” model, combining payer and provider roles to offer managed care efficiently.
- July 2024: Even launched its AI-powered health assistant, Even Steven, designed to provide verified health advice via platforms like WhatsApp, aiming to combat misinformation in healthcare.
- FY23–24: Even grew its revenue to $28 million and expanded its membership base substantially, demonstrating high customer retention and operational growth.
- April 2023: Successfully launched across India, focusing on a subscription model that combines healthcare delivery with coverage, thereby reducing healthcare costs and improving outcomes.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Bengaluru, India |
| Founders | Mayank Banerjee, Matilde Giglio, Alessandro Ialongo |
| Revenue | $28 million (2024 expected revenue) |
| Key Investors | Khosla Ventures, Founders Fund, Alpha Wave, Lachy Groom |
| Industry | Healthcare, Managed Care |
| Number of Employees | Approximately 300 |
Early History
Even Healthcare was established in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo. The founders identified a gap in India’s healthcare system where standard insurance models lacked comprehensiveness and accessibility. Inspired by personal healthcare experiences, they envisioned a system integrating preventive care with emergency coverage. Initially backed by seed funding led by Khosla Ventures in 2021, Even quickly attracted notable investors and built partnerships with leading hospitals across India to implement their managed care model successfully.
Company Profile and Achievements
Even Healthcare operates on a managed care model, providing unlimited consultations and diagnostics for an annual subscription. This model circumvents traditional insurance complexities by offering direct services. Key achievements include:
- 2021: Secured initial seed funding and established a network of partner hospitals for seamless service delivery.
- 2022: Raised $15 million from Alpha Wave and Aspada, strengthening their clinical team for enhanced preventive care.
- 2023: Expanded their service across India, offering comprehensive plans that integrate health services and insurance at competitive prices.
- 2024: Announced the development of AI-driven healthcare applications to improve accessibility and user engagement.
Current Operations and Market Position
Even Healthcare stands as a frontrunner in India’s managed care sector. Leveraging strategic partnerships with top hospitals, it offers a broad range of services from routine health checks to hospitalization. The company's competitive edge lies in its patient-centered approach and technology integration, enhancing patient experience and operational efficiency. With a significant market presence, Even aims to maintain a high customer retention rate, demonstrating effectiveness in reducing hospitalization risks and medical costs.
Even Healthcare Company Reviews
Even Healthcare has garnered positive reviews for its innovative healthcare model that emphasizes preventive care. Customers appreciate the ease of access and the extensive support network provided by Even’s team of health professionals. The AI-driven tool, Even Steven, has received commendations for curbing misinformation and offering reliable health advice. Overall, Even has been building a robust reputation within India’s healthcare landscape, driven by strong customer satisfaction metrics.
Conclusion
Even Healthcare is transforming the healthcare landscape in India through its innovative model, which combines managed health services with an inclusive insurance option. The company's ability to secure significant funding reflects confidence in its approach, promising further expansion and improved health outcomes. As Even continues to scale, it could set new standards in patient care, positioning itself as a pivotal player in India's healthcare transformation.