Paris-based Alan, a digital medical health insurance platform that gives insurance services by specializing in a price-quality ratio health plan, announced on Thursday that it has raised €183M in its Series E round of funding. The corporate now sits at a valuation of €2.7B.
The Series E round comes almost a 12 months after the corporate raised €185M in its Series D round of funding.
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Investors on this round
The present round was led by Teachers’ Enterprise Growth (TVG), the enterprise fund of the Ontario Teachers’ Pension Plan Board. Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is an investor with net assets of $241.6B. It invests in greater than 50 countries, in every little thing from equities to real estate and infrastructure to enterprise growth, to deliver retirement income for 333,000 current and retired teachers in Ontario.
Olivia Steedman, Senior Managing Director at TVG, says, “Alan empowers firms across Europe to attain higher physical and mental health for his or her employees. We’re delighted to partner with Jean-Charles and his team in simplifying access to medical health insurance and virtual and physical care through revolutionary, people-focused technology solutions.”
Besides TVG, Alan’s existing investors including Temasek, Index Ventures, Coatue, Ribbit Capital, Exor, Dragoneer, and Lakestar also participated within the round.
Hiring 1,000 people
By the tip of 2025, Alan desires to develop into the one-stop health partner for 3 million people and hire 1,000 recent talents from across Europe. The corporate already has people in 180 cities and nine countries, working at home or in offices/coworking spaces in Paris, Madrid, Gent, Bruxelles, Barcelona, Bordeaux, Lyon, Marseille, and Nantes.
In the subsequent three years, the corporate is seeking to hire talent across multiple functions and backgrounds to construct the solutions needed to enhance access to healthcare globally.
Jean-Charles Samuelian-Werve, co-founder and CEO of Alan, says, “We’re very excited to be working with Teachers’ Enterprise Growth and to have the trust of our existing investors. They may help us develop into the one-stop health partner for the body and the mind of all Europeans. We are going to use the funds to maneuver towards achieving our mission and construct the most effective healthcare experience people could ever dream of.”
Founded in 2016 by Charles Gorintin and Jean Charles Samuelian, Alan is on a mission to make personal, proactive and holistic health part of individuals’s every day life, and strives to be the world’s most member-centric healthcare company.
The corporate claims to be the primary independent medical health insurance company in France since 1986 to receive a licence. Alan distributes its own medical health insurance plans to firms of all sizes and to independent professionals. The corporate says it provides its members with a ‘delightful’ experience, intuitive usage and wellness coverage (etiopathy, osteopathy, etc.).
Alan’s services are designed to offer everyone access to a healthy and productive life, empowering the body and the mind. With Alan Clinic, members can immediately access relevant practitioners and chat, book appointments, or have teleconsultations. With Alan Clear, members can check out glasses through virtual reality and buy a pair directly on the app. With the appliance Alan Mind, anyone can access bespoke mental health support, anywhere, anytime, within the chosen format.
Currently, the corporate covers greater than 300,000 members, spanning a broad range of greater than 15,000 firms within the tech, hospitality and retail sectors. Alan reports that it now generates an annualised revenue of roughly €200M.
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