Mayank Banerjee (Even Healthcare)
Overview
Mayank Banerjee is an entrepreneur and the co-founder of Even Healthcare, an Indian health-tech company that aims to revolutionize the healthcare industry by making primary and preventive care more accessible and affordable. Established in 2020, Even Healthcare offers a membership-based model where members can access unlimited free doctor consultations, diagnostic tests, and cashless hospitalization. The model, referred to as "payvider" (payer + provider), integrates insurance partnerships with a network of owned and partner clinics.
Recent Developments
In recent years, Even Healthcare has seen significant growth and secured substantial funding to expand its operations.
- October 2024: Even Healthcare raised $30 million in Series A funding led by Khosla Ventures, elevating the company's total funding to $50 million. The funds are intended to scale patient care and launch hospital operations in Bengaluru, India.
- FY 2023-24: The company reported $28 million in revenue and anticipates reaching $35 million by the end of FY 2025.
- 2023-24: Even Healthcare witnessed a workforce growth of 50%, now employing approximately 300 employees across India. It plans to open three hospitals in Bengaluru focused on secondary care.
- November 2022: Closed a $15 million funding round with investments from Alpha Wave and Aspada, bolstering its preventive care capacity for conditions like diabetes, PCOS, and obesity.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Mayank Banerjee |
| Born | — |
| Nationality | Indian |
| Occupation | Entrepreneur, Co-Founder of Even Healthcare |
| Known For | Co-founding Even Healthcare |
| Education | University of Oxford |
| Net Worth | — |
Early Life and Education
Mayank Banerjee pursued his higher education at the University of Oxford, where he earned a degree in Philosophy, Politics, and Economics (PPE). His exposure to different healthcare systems while residing in the UK and the US provided him with insights into the inadequacies of the Indian healthcare system, particularly concerning accessibility and affordability. His experiences and his deep interest in social impact drove him to co-found Even Healthcare in 2020.
Career and Notable Achievements
Mayank Banerjee's professional journey is marked by innovative ventures in the health-tech sector:
- 2015-2019: Prior to Even Healthcare, Mayank co-founded Compass News in the UK, an AI-driven journalism platform.
- 2020: Co-founded Even Healthcare with Matilde Giglio and Alessandro Ialongo, aimed at transforming India’s healthcare landscape through a managed care model.
- Achievements: Under his leadership, Even Healthcare has rapidly expanded its customer base, established partnerships with leading hospitals in India, and secured significant funding to enhance its service offerings.
Current Work and Impact
As the CEO of Even Healthcare, Mayank Banerjee continues to push the boundaries of healthcare accessibility in India. Even operates on a membership model that significantly reduces out-of-pocket expenses for its users while ensuring high-quality care. The startup is focusing on expanding its services to more tier-1 and tier-2 cities, aiming to maximize its impact on the Indian healthcare ecosystem.
Even Healthcare Funding
Even Healthcare's funding journey underscores its growing footprint in the health-tech industry:
- 2021: Initiated with $5 million in seed capital led by Khosla Ventures.
- November 2022: Secured an additional $15 million in funding, aiding its preventive care initiatives across the country.
- October 2024: Raised another $30 million, which will significantly boost its plans to open hospitals in Bengaluru and enhance its integrated healthcare model.
Matilde Giglio
Matilde Giglio is a co-founder of Even Healthcare alongside Mayank Banerjee. She has played a pivotal role as the company's Chief Operating Officer, focusing on expanding Even's impact by making healthcare seamless and accessible. Her background in tech, media, and politics has been instrumental in guiding Even’s strategic direction.
Conclusion
Mayank Banerjee’s work with Even Healthcare is transforming access to healthcare in India by integrating insurance and service delivery in a cost-effective manner. With a strong vision for preventive care, the company aims to reshape the future of healthcare access in India. As Even Healthcare continues to grow, it is poised to leave a lasting legacy on the healthcare landscape by reducing financial burdens on patients and enhancing care quality.