Managed healthcare provider Even Healthcare to buy back Esop shares worth $500,000

Bengaluru-based startup Even Healthcare, which provides services such as consultation and hospitalisation to its members, on Tuesday announced its first buyback of shares issued under its employee stock ownership plan (Esop).

According to the firm, the buyback is worth $500,000 for each full-time employee at the primary valuation without any discount.

“At Even Healthcare, we believe in creating long-term financial opportunities for our employees. This buyback is a testament to our commitment to ensuring everyone who contributes to Even’s growth benefits from it,” said cofounder Matilde Giglio.


Founded in 2020 by Mayank Banerjee, Giglio and Alessandro Ialongo, Even Healthcare, as a managed care provider, offers members benefits such as unlimited free consultations, diagnostic tests and cashless hospitalisation. These services are provided through its in-house clinical team, owned and partner clinics, as well as insurance partners.

The startup last raised $30 million in a funding round led by Silicon Valley-based Khosla Ventures in October last year. Prior to this, it raised $5 million in 2021, followed by a $15 million round in November 2022.

It serves over 200 business-to-business (B2B) clients, including Grant Thornton, Pixxel, Mensa, Ultrahuman, Slice and Urban Ladder. In 2023-24, the company generated a revenue of $9 million.

Esops are a key staff retention tool for startups, with several startups announcing Esop buybacks. Last month, ride-hailing startup Rapido announced its first-ever Esop. Food delivery platform Swiggy announced that it is offering an Esop, granting 171 lakh equity shares to eligible employees. Similarly, office space-sharing company Awfis announced that it is offering an Esop, granting 1.44 lakh and 1.35 lakh equity shares to eligible employees.

Others include at-home services platform Urban Company, society management app Mygate, ecommerce firm Meesho and edtech startups Classplus and Adda247.