Alan raises 183 million euros between expansion and product diversification

By Philippe Guerrier | the | Well being at work

Alan’s valuation jumps again with this new funding round supervised by a Canadian pension fund. The outlines of this new stage with Charles Gorintin, CTO and co-founder of Alan.

Jean-Charles Samuelian and Charles Gorintin, co-founders of Alan – © Vinciane Lebrun / Voir-Vous

It is one of the most amazing unicorns in the ecosystem of French technology start-ups that evolve between the worlds of insurance and human resources.

Alan raises 183 million euros and reached a valuation of 2.7 billion euros.

In this new funding round, the digital complementary health insurance platform is supported by:

  • Teacher’s Venture Growth (TVG, branch of the Ontario Teacher’s Pension Plan Board),
  • other existing and new investors such as Temasek, Index, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar.

“The objective is to be profitable in France by 2025 so as to no longer depend on the fundraising market. This financing is supposed to allow us to go until 2025 and to have our destiny in hand”declares Charles Gorintin, CTO and co-founder of Alan.

“An IPO is possible in the long term. Today, we don’t need it because we are backed by excellent private investors such as the Teachers’ Venture Growth (TVG) investment fund, attached to the Ontario Teachers’ Pension Plan (OTPP), which is the leader of this new funding round. He is committed to supporting Alan’s development for a very long time. »

Since its creation in 2016, Alan has raised 458 million euros.

The last funding round of 185 million euros was completed in April 2021.

Alan targets 8 countries covered by 2025

Alan has:

• 15,000 corporate clients including Vitalliance, People and Baby crèches (with more than 5,000 employees), IT Link, Algolia),
• 300,000 subscribing members.

In 2022, it will reach a turnover of 200 million euros.

By 2025, Alan expects:

• have 3 million subscribers with a presence in 8 countries, “essentially in Europe”. Currently, the platform covers three countries: France, Spain and Belgium (12,000 members in the last two countries).
• triple its workforce from 500 employees to 1,500.

A range of products in the process of diversification

During 2021, Alan developed new products related to its complementary health insurance offer, marketed via its digital platform.

  • Alan Mind : a new application dedicated to the mental well-being of individuals and employees. The Alan Mind solution, developed with the team of the start-up Jour acquired in September 2021, has 10,000 users.
  • Alan Clear : an application to try augmented reality glasses and buy a pair. The glasses are sourced from European designers such as With Marlow, Gino, Heyelander, Molojo, Andy Brook or Komono.
  • Alan Clinic : an application to be recommended by health professionals on the application, to discuss with a health team, to carry out teleconsultations and to receive personalized prevention notifications.
  • Alan as a Service : an offer, made up of technological building blocks designed by Alan, made available to insurance and mutual insurance groups. Lamie Mutuel is one of the first customers of this white label offer.

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