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.
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Health insurance startup Alan launches free medical app Alan Baby
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Health insurance startup Alan launches free medical app Alan Baby
French startup Alan is generating 100% of its revenue from health insurance products and that isn’t going to change. But the company wants to start a conversation with a bigger use base. Alan is going to launch multiple mobile apps that let you learn more about health topics, contact a doctor and chat with the community.
“We are proud to announce today that we’re launching free medical apps for everyone,” co-founder and CEO Jean-Charles Samuelian-Werve said in a virtual press conference. “We’re going to develop services for specific groups of people who are facing specific issues or questions.”