Healthcare super-app Alan raises €185m at €1.4bn valuation to provide personalised healthcare to everyone in Europe
- Funds will be used to make 400 new hires and reach 1 million members in Europe by 2023.
- Launched in 2016, Alan aims to build the fastest and most accessible health insurance and the go-to healthcare partner for all health & wellbeing needs.
- Alan was Europe’s first digitally native health insurer and was the first company to be granted a French insurance license since 1986.
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:
- Instant reimbursement: Alan now reimburses 75% of claims in less than an hour, reducing the medical financial burden for members.
- Proactive health services: Alan has developed dedicated tools to help its members cope with the effects of COVID-19 and required periods of quarantine or social distancing with an early symptom checker, free mask deliveries and psychological support.
- Unlimited access to medical experts: Alan has built a team of in-house doctors, answering medical requests via an in-app chat function in less than 2 hours.
- Direct access to community support: Alan allows its members to interact directly with one another on common health issues, moderated by health professionals.
- Local offerings in Spain and Belgium: In both countries, Alan reached fast product market fit by building custom offerings and products, adapted to local needs.
Aggregating trusted and delightful health products
With the new funding round, Alan will invest in the following :
- For French companies: Increased automation of HR routine tasks such as Employee affiliation to the health & “prévoyance” insurances, payroll update & work stoppage management.
- For Belgium insured members: Medical chat and psychological hotline services to provide personalized answers to members' health concerns, and further development of preventive programs to help people take care of their health.
- For Spanish insured members: Medical concierge services, taking appointments and finding doctors on behalf of Alan’s Spanish members.
- For everyone: Personal care guidance to access the right in-person or virtual care options, as well as direct-to-consumer products in Parenting (Alan Baby) and Mental Health.
- Alan sells primarily health insurance plans to companies of all sizes across various industries: technology & consulting, food and beverages, hospitality and caregiving.
- As of April 2021, Alan covers 9400 companies in France, Belgium and Spain, representing a total of 155,000 members.
- WeWork, Deliveroo, JustEat, Vitaliance, Big Mamma, as well as several franchisees from renowned fast food chains count among Alan’s members.
- Aside from companies, Alan covers independent workers, who can directly subscribe on alan.com.
- In early 2021, Alan launched Alan Baby, a free application dedicated to parenting, available to anyone (insured and non-insured) on the App Store.
- In 2021, Alan will expands its addressable market on Retail, Wholesale and Manufacturing (3M+ employees), thanks to the ability to build offers at will, and a vertical go-to-market approach (specific marketing and dedicated sales team)
- Alan will continue to grow with large and very large companies thanks to a differentiated and scalable “prévoyance” offer, a digital product better adapted to large companies and corporations, a healthcare product supporting additional features requested by large companies, and sales specialization by industry 3. What recent senior hires Alan has made?
- Alan’s team grew from 200 to 350 over the last 12 months. The company was joined by exceptional Alaners, who have placed their trust and experience in it: Diane Rivière (People and Culture Lead), Aurélie Fliedel(Marketing Lead), Laurence Vély (Chief editor), Marion Deneuville (Product Manager), Sergei Galperin (Chief Financial Officer), Erik Lumer, (Better Life Unit Lead), Dr Pierre-Auguste Beaucôté (MD), Manel Pujol (General Manager Spain), Cédric de Vleeschauwer (General Manager Belgium), Gabriel Hubert (Product Lead)
- Alan aims at hiring 400 additional alaners in the next 2 years.
- Alan’s team grew from 200 to 350 over the last 12 months. The company was joined by exceptional Alaners, who have placed their trust and experience in it: Diane Rivière (People and Culture Lead), Aurélie Fliedel(Marketing Lead), Laurence Vély (Chief editor), Marion Deneuville (Product Manager), Sergei Galperin (Chief Financial Officer), Erik Lumer, (Better Life Unit Lead), Dr Pierre-Auguste Beaucôté (MD), Manel Pujol (General Manager Spain), Cédric de Vleeschauwer (General Manager Belgium), Gabriel Hubert (Product Lead).
- Alan aims at hiring 400 additional alaners in the next 2 years.
- Alan’s ambition is to become the healthcare super-app for everyone in Europe.
- We launched in Spain and Belgium in late 2020, and found fast product-market fit in both countries. While we will source new opportunities, our goal for 2021 is to keep focusing on Spain and Belgium, building the right foundations and learning there in order to be able to launch quickly when we identify new countries.