Paris-based Alan, a digital health insurance platform that offers insurance services by focusing on a price-quality ratio health plan, announced on Thursday that it has raised €183M in its Series E round of funding. The company now sits at a valuation of €2.7B.
The Series E round comes almost a year after the company raised €185M in its Series D round of funding.
Investors in this round
The current round was led by Teachers’ Venture Growth (TVG), the venture fund of the Ontario Teachers’ Pension Plan Board. Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is an investor with net assets of $241.6B. It invests in more than 50 countries, in everything from equities to real estate and infrastructure to venture growth, to deliver retirement income for 333,000 current and retired teachers in Ontario.
Olivia Steedman, Senior Managing Director at TVG, says, “Alan empowers companies across Europe to achieve better physical and mental health for their employees. We’re delighted to partner with Jean-Charles and his team in simplifying access to health insurance and virtual and physical care through innovative, people-focused technology solutions.”
Besides TVG, Alan’s existing investors including Temasek, Index Ventures, Coatue, Ribbit Capital, Exor, Dragoneer, and Lakestar also participated in the round.
Hiring 1,000 people
By the end of 2025, Alan wants to become the one-stop health partner for 3 million people and hire 1,000 new talents from across Europe. The company already has people in 180 cities and nine countries, working at home or in offices/coworking spaces in Paris, Madrid, Gent, Bruxelles, Barcelona, Bordeaux, Lyon, Marseille, and Nantes.
In the next three years, the company is looking to hire talent across multiple functions and backgrounds to build the solutions needed to improve access to healthcare globally.
Jean-Charles Samuelian-Werve, co-founder and CEO of Alan, says, “We are very excited to be working with Teachers’ Venture Growth and to have the trust of our existing investors. They will help us become the one-stop health partner for the body and the mind of all Europeans. We will use the funds to move towards achieving our mission and build the best healthcare experience people could ever dream of.”
About Alan
Founded in 2016 by Charles Gorintin and Jean Charles Samuelian, Alan is on a mission to make personal, proactive and holistic health part of people’s daily life, and strives to be the world’s most member-centric healthcare company.
The company claims to be the first independent health insurance company in France since 1986 to receive a licence. Alan distributes its own health insurance plans to companies of all sizes and to independent professionals. The company says it provides its members with a ‘delightful’ experience, intuitive usage and wellness coverage (etiopathy, osteopathy, etc.).
Alan’s services are designed to give everyone access to a healthy and productive life, empowering the body and the mind. With Alan Clinic, members can instantly access relevant practitioners and chat, book appointments, or have teleconsultations. With Alan Clear, members can try out glasses through virtual reality and buy a pair directly on the app. With the application Alan Mind, anyone can access bespoke mental health support, anywhere, anytime, in the chosen format.
Currently, the company covers more than 300,000 members, spanning a broad range of more than 15,000 companies in the tech, hospitality and retail sectors. Alan reports that it now generates an annualised revenue of approximately €200M.
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