French healthcare insurtech Alan has reached a €1.4bn ($1.7bn) valuation after its latest Series D funding round.
Founded in 2016, Alan aims to bring transparency and fairness to healthcare through a super app offering personalised and proactive care. The app delivers both pre-care and post-care services.
Alan points to the EU’s average healthcare spending of 10.5% of GDP, while noting France’s higher rate at 11.3%. However, it argues that even this is insufficient.
The company believes consumers need access to quality health insurance, which it seeks to provide through next-gen technology.
Super apps, considered by some as the future of tech services, function as integrated portals offering a variety of options. Alan’s app offers scalable health insurance plans for companies of all sizes, while adopting a “human approach” that promotes overall wellbeing.
This vision has gained traction with investors. Alan’s Series D round, led by Coatue, secured €185mn from new investors Dragoneer and Exor, alongside existing backers Index Ventures, Ribbit Capital, and Temasek.
“We’re thrilled to partner with Jean-Charles [Samuelian-Werve, Co-Founder and CEO] and the Alan team as they aim to transform healthcare,” said Philippe Laffont, Founder of Coatue.
Alan’s people-focused approach provides better care at a lower cost. We’re proud to support their vision for the healthcare super app
Alan highlights its support for members during COVID-19, which included:
- In-house doctors offering unlimited access to medical advice
- Community support and localised services for Spain and Belgium
In the post-pandemic era, our goal is to re-engage individuals with the healthcare system,” said Samuelian-Werve. “This means providing personalised care, offering the best price, reducing financial stress, delivering fast and accurate health information, and giving proactive medical guidance.
Alan plans to expand its workforce and aims to insure 1 mn members by 2023, up from its current 155,000. Cédric O, Minister of State for the Digital Transition and Electronic Communication, believes Alan is already setting an example for global startups.
“Alan’s success shows that France can create and scale start-ups globally. I’m proud of what Alan’s team has achieved in a few years, and I’m confident their success will inspire others,” said Cédric O.
