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Even Revenue, Valuation, Funding & Investors
Even is valued at $300M as of October 2026. Even revenue was $28M, as disclosed with its October 2024 round.
Last Even valuation
$300M
Series B · Oct 2026
Last Even funding round
$50M
Series B · Oct 2026
Even revenue
$28M
Series A · Oct 2024
Key investors in Even
Khosla Ventures
Lachy Groom
Founders Fund
Alpha Wave Global
8VC
Kunal Shah
About Even
Even is a Bangalore-headquartered health technology company that delivers subscription-based healthcare services across India. It partners with prominent hospital chains including Manipal Hospitals and Apollo Hospitals to provide unlimited diagnostics, specialist consultations, and coverage up to 50 lakh rupees for hospitalizations through a single monthly fee. Launched in 2020, Even operates in multiple cities such as Mumbai, Delhi, and Chennai, serving over 100,000 subscribers with virtual and in-clinic care options.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$28M (Oct 2024)
Valuation
$300M (Oct 2026)
Even Valuation
Even is currently valued at $300M, based on its Series B in October 2026. Read the announcement ↗
The $50M round was led by Khosla Ventures, with participation from Alpha Wave Global.
Even's valuation has grown 3.7x from $81M at its undisclosed-stage round in August 2024 to $300M in October 2026, across 2 priced rounds.
Even valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2026 | Series B | $300M | - |
| Aug 2024 | Undisclosed stage | $81M | 2.9x |
Even Revenue
Even's latest recorded revenue is $28M, as of its Series A in October 2024.
Revenue moved from $28M in November 2022 to $28M in October 2024.
Even revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2024 | $28M | - | - | Series A |
| Aug 2024 | $28M | $81M | 2.9x | Undisclosed stage |
| Nov 2022 | $28M | - | - | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Even Funding History
Even has raised a total of $140M across 6 funding rounds.
Even's first fundraising round was a $5M seed round in July 2021. The most recent completed round was a $50M Series B in October 2026.
Even funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2026 | Series B | Khosla Ventures (lead); Alpha Wave Global | $50M | $300M | Even Healthcare raised USD 50 million in a Series B led by existing investor Khosla Ventures, with participation from Alpha Wave, announced on 19 October 2026. The all-equity round values the Bengaluru-based company at USD 300 million, triple the valuation of its previous raise about 18 months earlier. Khosla Ventures first backed the company in its 2021 seed round and led its USD 30 million Series A in 2024. The company said it will use the proceeds to open further hospitals in Bengaluru. Even was founded in 2021 and runs an integrated managed care model in which it builds and operates its own hospitals and clinics. Members pay a fixed subscription fee for access to doctor visits, diagnostic tests and specialist consultations, and the company pays doctors fixed salaries with bonuses tied to patient outcomes. It operates hospitals and clinics in Bengaluru and serves more than 250,000 members across ten cities. Its total funding now exceeds USD 120 million. |
| Jan 2026 | Series A | Alpha Wave Global (lead); Lachy Groom (lead); Sharrp Ventures | $20M | - | Even Healthcare, a Bengaluru-based managed-care startup founded by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, raised $20 million in fresh funding on January 6, 2026, from Lachy Groom and Alpha Wave Global, with participation from Sharrp Ventures. This brings the company's total funding to about $70 million. Previous backers include Khosla Ventures, Founders Fund, and 8VC. The capital will fund expansion of Even's hospital footprint in Bengaluru, following the launch of its first facility in May 2025. Even has shifted from a membership-led healthcare platform to a vertically integrated provider offering outpatient care, diagnostics, and hospitalization. Its first hospital achieved operating break-even in under six months, attributed to a managed-care model emphasizing early intervention, coordinated care, and shorter hospital stays. Performance metrics include no unplanned 30-day readmissions and no post-operative infections across more than 350 surgeries in a tracked cohort, plus shorter average lengths of stay versus similar cases. Even avoided over 200 hospitalizations via at-home recovery pathways. The expansion aligns with rising investor interest in managed-care and integrated healthcare models in India, where startups are increasingly investing in physical infrastructure for better cost and quality control. Even plans further hospital growth in Bengaluru before entering other markets. |
| Oct 2024 | Series A | Khosla Ventures (lead); Club degli Investitori; 8VC; Founders Fund; Lachy Groom | $30M | - | Even Healthcare, a Bengaluru-based managed care provider founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, offers members unlimited consultations, diagnostic tests, and cashless hospitalization through in-house clinics, partner facilities, and insurance partners. The company serves hundreds of thousands of members, including around 200 B2B clients like Grant Thornton, Slice, Pixxel, Ultrahuman, Mensa, and Urban Ladder, with operations in metro cities such as Delhi, Mumbai, Hyderabad, Pune, and Bengaluru, plus five clinics in Bangalore. On October 23, 2024, Even Healthcare raised $30 million in a Series A funding round led by Khosla Ventures, with participation from Founders Fund, 8VC, Lachy Groom, and Club degli Investitori, bringing total funding to $50 million across rounds including $5 million seed in 2021 and $15 million in November 2022. Khosla Ventures has backed all rounds to date. The capital will fund launching three secondary-care hospitals in Bengaluru, scaling patient care, expanding clinic and diagnostic networks, strengthening doctor teams, and advancing AI initiatives like 'Even Steven', an AI-powered health assistant. Even reported $28 million revenue run rate around the round, after generating $28 million since commercial launch 1.5 years prior, with $9 million in FY 2023-24 and projections to $35 million in FY25. It boasts 95% customer retention, 50% workforce growth to 300 employees, and aims to reduce medical costs while enhancing patient experience in India's challenging healthcare landscape marked by low insurance penetration and fee-for-service models. Investors like Vinod Khosla highlighted Even's role in modernizing affordable, high-quality care for India's large population. |
| Aug 2024 | Undisclosed stage | Khosla Ventures (lead); Reddy Futures; 8VC; DLB Ventures; Pathfinder; Rainmatter Capital; LexItalia; Mercury Fund; Simon Fiduciaria | $20M | $81M | Even Healthcare is a Bengaluru-based healthtech platform offering a managed care model focused on preventive care, with annual membership plans starting at Rs 4,800 and options for added health insurance. The company raised approximately $20 million (INR 169 crore) in a funding round around August 2024, led by Khosla Ventures (INR 83.4 crore or $10 million), with participation from Pathfinder (INR 21.3 crore), Mercury Fund (INR 26.9 crore), Simon Fiduciaria, DLB Ventures, Lex Italia, 8VC, and Rainmatter Capital. This marked a return after a 20-month funding hiatus, bringing total funding to about $40 million including prior rounds: $15 million Series A from Alpha Wave and Aspada in November 2022, and $5 million seed led by Khosla in 2021. The board approved issuance of 217,589 preference shares at INR 7,762 each, resulting in a post-allotment valuation of approximately INR 753 crore ($91 million) per market forecasts and company filings. Even also expanded its ESOP pool to 135,000 options, valued at an estimated $12 million. Khosla Ventures has been a consistent backer, leading seed and Series B rounds while participating in Series A. Even has demonstrated strong growth, scaling to 300 employees (50% YoY increase) and hundreds of thousands of members with 95% retention across B2B and B2C segments. It generated $28 million in revenue 1.5 years after commercial launch. The company is transitioning to a full-stack 'payvider' model, planning three secondary-care hospitals in Bengaluru, launching an AI-powered health assistant 'Even Steven', and expanding clinic, diagnostic, and doctor networks to reduce costs and improve outcomes. Post this round, Even raised a $30 million Series A in a later funding (bringing total to $50 million) from Khosla Ventures, Founders Fund, 8VC, Lachy Groom, and others to support hospital operations and patient care scaling. It continues targeting expansion into brick-and-mortar healthcare delivery across India. |
| Nov 2022 | Undisclosed stage | Nikesh Arora; Nithin Kamath; Khosla Ventures; Founders Fund; Lachy Groom; Alpha Wave Global; Tom Stafford; Kunal Shah | $15M | - | Even, an Indian healthcare startup, raised $15 million in a Series A round in November 2022 led by Alpha Wave and Aspada, with a concurrent $15 million convertible note. Khosla Ventures participated in an earlier Series A in July 2021. The funds supported scaling operations and expanding services. A later October 2024 Series A round of $30 million involved Khosla Ventures, Founders Fund, 8VC, and Lachy Groom to launch hospitals in Bengaluru and scale patient care. |
| Jul 2021 | Seed | Khosla Ventures (lead); MPGI; Nikesh Arora; Nithin Kamath; iSeed; Founders Fund; Lachy Groom; Salica Investments; Manu Gupta; Tom Stafford; Kunal Shah | $5M | - | Even Healthcare, a Bangalore-based healthtech startup, raised $5 million in a seed funding round on July 22, 2021, led by Khosla Ventures with participation from Founders Fund, Lachy Groom, and individuals including Nikesh Arora, Kunal Shah, Nithin Kamath, and Tom Stafford. The company offers healthcare services including consultations, hospitalization, and insurance, aiming to address inefficiencies in India's healthcare system by acting as a service provider to reduce costs, inspired by Kaiser Permanente. The funding was intended to build out the operational team, product development, and hospital integrations, with Even already partnering with 100 hospitals and Narayana Hospital for over 2,000 COVID vaccinations. Even's model targets incentive misalignment in hospitals that overcharge and overtreat patients, focusing on covering those the government cannot reach while driving down care costs. |
Who has invested in Even?
22 investors have backed Even across its funding rounds, including Khosla Ventures, Lachy Groom, Founders Fund, Alpha Wave Global, 8VC and Kunal Shah.
Lead investors include Khosla Ventures, Alpha Wave Global and Lachy Groom.
Even Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Jul 2021 | ||
| 4 | Lead | Jul 2021 | ||
| 3 | Participant | Jul 2021 | ||
| 3 | Lead | Nov 2022 | ||
| 2 | Participant | Aug 2024 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 2 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Oct 2024 | ||
| 1 | Participant | Aug 2024 | ||
| 1 | Participant | Aug 2024 | ||
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Start Free TrialEven Competitors
Even competitors include listed companies like Guiyang Longmaster and Medley Inc., and private ones like KAKEHASHI, Healthie, Diverge Health and Benovymed Healthcare Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $293M | - | ||
| Private | - | - | $273M | - | ||
| Private | - | - | $264M | - | ||
| Private | - | - | $241M | - | ||
| Publicly listed | $45M | $5M | $447M | - | ||
| Publicly listed | $233M | $32M | $457M | 1.8x |
Even Public Comps
Even is still privately-owned, but its public comps include AdvancedAdvT, Artrya, Echo IQ, Beijing Sunwayworld, Software Service, Value HR, Spok, EM Systems Co., Vitalhub and Optima Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $71M | $13M | 2.6x | 2.5x | 14.5x | 8.8x | |||
| $20K | ($19M) | 13588.1x | 447.6x | (14.4x) | (15.5x) | |||
| $65K | ($13M) | 4173.4x | 616.7x | (20.7x) | (23.3x) | |||
| $58M | $3M | 5.2x | - | 93.4x | - | |||
| $268M | $59M | 0.9x | 0.8x | 4.0x | 5.8x | |||
| $64M | $9M | 4.2x | 3.9x | 29.5x | - | |||
| $140M | $24M | 1.6x | 1.6x | 9.4x | 7.8x | |||
| $150M | $31M | 1.4x | 1.5x | 6.7x | 8.8x | |||
This data is available for Pro users. Sign up to see all Even competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Even
| When was Even founded? | Even was founded in 2020. |
| Where is Even headquartered? | Even is headquartered in Bangalore, India. |
| Is Even publicly listed? | No, Even is a private, VC-backed company. |
| What is Even's valuation? | Even was last valued at $300M in its Series B in October 2026. |
| How much funding has Even raised? | Even has raised $140M across 6 funding rounds. |
| What was Even's last funding round? | Even's last funding round was a $50M Series B in October 2026, led by Khosla Ventures. |
| Who are Even's investors? | Even's investors include Khosla Ventures, Lachy Groom, Founders Fund, Alpha Wave Global, 8VC, Nikesh Arora, Nithin Kamath, Tom Stafford, Kunal Shah, MPGI and 12 others. |
| What is Even's revenue? | Even's latest recorded revenue is $28M (October 2024). |
| Which companies are comparable to Even? | Companies comparable to Even include KAKEHASHI, Healthie, Diverge Health, Benovymed Healthcare Group, Guiyang Longmaster and Medley Inc.. |
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