Alan raises €183 million
French health insurance startup Alan has raised €183 million at a €2.7 billion valuation. Teachers’ Venture Growth (TVG), the venture fund of the Ontario Teachers’ Pension Plan Board, is leading the Series E round. Additional investors include Temasek, Index Ventures, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar.
The startup has attracted 300K members across 15K companies and it now generates an annualized revenue of €200 million. Alan is not profitable and it wants to change that by 2025.
In February Alan launched ‘Alan as a Service,’ a new enterprise offering for insurance companies. The new solution allows health insurers to leverage Alan’s tech so they can offer their members a “modern, differentiating and 100% digital experience.”