Alan, a France-based digital health insurance platform, announced last week the closing of a €185 million Series D funding round, bringing the company’s total valuation to €1.4 billion.
The funding comes as Alan doubles its member base to 155,000 and surpasses €100 million in annualised revenue.
The funding round was led by Coatue, a global technology-focused investment manager founded by Philippe Laffont, along with Dragoneer, Exor, and existing investors Index Ventures, Ribbit Capital and Temasek.
By the end of 2023, Alan will hire 400 additional staff across Europe and will grow its international teams from 30 to 140.
The company aims to exceed 1 million insured members and expects to reach profitability in its home market of France by then.
With the new funding round, Alan will invest in the following :
- For French companies: Increased automation of HR routine tasks such as Employee affiliation to the health and “prévoyance” insurances, payroll update & work stoppage management.
- For Belgium insured members: Medical chat and psychological hotline services to provide personalized answers to members’ health concerns, and further development of preventive programs to help people take care of their health.
- For Spanish insured members: Medical concierge services, taking appointments and finding doctors on behalf of Alan’s Spanish members.
- For everyone: Personal care guidance to access the right in-person or virtual care options, as well as direct-to-consumer products in Parenting (Alan Baby) and Mental Health.
As a healthcare app, Alan provides health insurance plans to companies of all sizes, from startups to large enterprises, and combines its health insurance offering with access to personalised health care information, proactive care, care delivery, payment and post-care.
Jean-Charles Samuelian-Werve, Co-Founder and CEO of Alan said,
“In a post-pandemic world, our role as a trusted partner will be to re-engage individuals with the healthcare system.
For us, this means being; personalised and tailored to each person’s needs, able to offer the best price possible and relieving financial stress, incredibly fast at delivering accurate answers on health and wellbeing, and proactive when providing decisive medical guidance to everyone.”
