Alan Raises $193 Million at $2.9 Billion Valuation

Alan is a startup that develops a digital health insurance platform providing insurance services by focusing on a price-quality ratio health plan. The company was started as a health insurance company for companies and individuals, that they can both trust and enjoy as an experience. The Alan’s aim is to make insurance better, simpler, and smarter.

The funding round Series E was led by Teachers’ Venture Growth, the venture fund of the Ontario Teachers’ Pension Plan Board. Such existing investors as Temasek, Index Ventures, Coatue, Ribbit Capital, Exor, Dragoneer, and Lakestar also took part in the round. Alan’s valuation has increased twice since the last year.

Alan, Paris, France, was founded by Charles Gorintin and Jean Charles Samuelian in 2016. As of now, the company has 300 000 customers across 15 000 companies. The company is able to sign up all-size and business clients. The main focus is to automate as many processes as possible. Alan plans to reach profitability by the end of 2025. Also, the company is going to hire 1000 people. Alan operates in three countries – France, Belgium, and Spain, and it does not plan to add new markets in 2022 but consider expansion for 2023. “96% of the French population has health insurance coverage. We still have less than 1% in market share. We are at the very beginning of our story. It is a first baby step but everything is still ahead of us,” Jean Charles Samuelian, CEO.

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