French healthcare app Alan raises €185m at a €1.4bn valuation
Alan, a France-based digital health insurance platform, last week announced the closing of a €185 million Series D funding round, bringing the company’s total valuation to €1.4 billion. euros.
The funding comes as Alan doubles his membership base to 155,000 and tops $100 million in annualized revenue.
The funding round was led by Coatue, a technology-focused global 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 an additional 400 people across Europe and grow his international teams from 30 to 140.
The company aims to exceed one million policyholders and hopes to achieve profitability in its home market, France, by then.
With the new round of funding, Alan will invest in the following:
- For French companies: increased automation of routine HR tasks such as employee affiliation to health and provident insurance, payroll update and work stoppage management.
- For Belgian policyholders: medical chat and psychological hotline services to provide personalized responses to the health concerns of policyholders, and development of prevention programs to help people take care of their health.
- For Spanish policyholders: Medical concierge services, making appointments and finding doctors on behalf of Spanish Alan members.
- For everyone: Self-care tips to access the right in-person or virtual care options, as well as direct-to-consumer products in the areas of parenting (Alan Baby) and mental health.
As a health care app, Alan offers health insurance plans to businesses of all sizes, from startups to large corporations, and combines its health insurance offering with access to personalized health care information. health, proactive care, care delivery, payment and aftercare.
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, it means to be; personalized and tailored to each individual’s needs, able to offer the best possible price and relieve financial stress, incredibly quick to provide accurate health and wellness answers, and proactive when it comes to providing critical medical advice to everyone.