Healthcare super-app Alan raises €185m at €1.4bn valuation to provide personalised healthcare to everyone in Europe
April 19th, 2021
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Healthcare super-app, Alan, has raised a further €185m in a series D funding round bringing the company’s total valuation to €1.4bn. The funding comes as Alan doubles its member base to 155,000 and surpasses €100m 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.
Alan answers a need for a more human approach to healthcare and encourages preventive behaviours. As a healthcare super-app, Alan provides health insurance plans to companies of all sizes – from start-ups to large enterprises – and combines its health insurance offering with access to personalised health care information, proactive care, care delivery, payment and post-care.
“We are excited to partner with Jean-Charles and the rest of the Alan team as they seek to transform the healthcare industry,” said Philippe Laffont, Founder of Coatue.“With their people-centric approach, Alan delivers better care for patients at a lower cost for the healthcare system. We are proud to support their vision of building the healthcare super-app.”
Putting members first, always
During COVID-19, with health concerns front of mind for all, Alan members were more engaged with their health insurance and healthcare services than ever, as evidenced by Alan’s industry defining net promoter score of 69, compared to 10 for domestic competition. This comes from Alan focusing not only on member care but also on delight and satisfaction:
Aggregating trusted and delightful health products
With the new funding round, Alan will invest in the following :
Jean-Charles Samuelian-Werve, co-founder and CEO of Alan noted:
“In a post-pandemic world, our role as a trusted partner will be to re-engage individuals with the healthcare system. For us, this means being; personalised and tailored to each person’s needs, able to offer the best price possible and relieving financial stress, incredibly fast at delivering accurate answers on health and wellbeing, and proactive when providing decisive medical guidance to everyone.
We are achieving this by relentlessly investing in innovation making sure our members love our product. This encourages preventive health behaviours and results in higher engagement and satisfaction with our members’ health services. This is what we call the Alan effect, and our strategy is to amplify it for as many people as possible.
We are thrilled and honoured to partner with Coatue and the rest of our investors on this journey. Philippe and his team share our vision and bring an extraordinary amount of experience. We look forward to building the trusted healthcare partner for hundreds of millions of people, together.”
By the end of 2023, Alan will hire 400 additional “Alaners” across Europe and will grow its international teams from 30 to 140. The company aims to exceed 1m insured members and expects to reach profitability in its home market of France by then.
Alan is the healthcare super-app offering personalised information, proactive care, care delivery, payment and post-care. Alan members access a delightful health insurance coverage bundled with innovative healthcare services.
Founded in 2016 by Jean-Charles Samuelian and Charles Gorintin, Alan became the first independent health insurance company in France since 1986 to receive a license.
Alan distributes its own health insurance plans to companies of all sizes as well as to independent professionals.
By providing its members with a delightful health experience, beautifully designed tools and wellness coverage (meditation, etiopathy, osteopathy, etc), Alan's long-term goal is to deliver personalised and delightful healthcare to hundreds of millions of Europeans, and beyond.
As of today, Alan covers more than 155,000 members, representing over €100m of annualised revenue. The team is 350 people, and growing.
For more information on Alan, please visit alan.com/press.
Coatue is one of the largest technology investment platforms in the world with more than $35 billion in assets under management. Coatue’s dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in Coatue’s portfolio. With venture, growth and public funds, Coatue backs entrepreneurs from around the globe and at every stage of growth. Some of Coatue’s private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
Frequently Asked Questions
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