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.