With an ageing population and growing strain on Europe’s health care systems, digital insurance provider Alan aims to empower its users to enjoy healthier lives, from choosing a doctor to getting reimbursed.
Just founded in 2016, the Parisian insurtech startup has announced a €40 million Series B only 10 months after its Series A round, bringing its total investment so far to €75 million. The Series B round was led by leading investors including Index Ventures and partners of DST Global.
Alan makes the health insurance process easy with its well-designed online tools, and has quickly grown its user base from less than 5,000 to 27,000 and its revenue from less than €3.5 million to €22 million (+500%) in 2018. Alan now covers more than 2,000 companies including My Little Paris, Le Slip Français, Ledger and Converteo, and has grown from 14 to 64 people in 2018.
Alan plans to use the investment to keep transforming the health insurance experience and provide increasingly better service with quicker payments, quote answers, and best-in-class customer service, to exponentially grow its user base in France with a focus on SMEs and freelancers. Alan also plans to expand its team to 175 employees by the end of the year, recruiting the best talent from around the world.
“At Alan, we want to create a dramatic move to a more transparent, caring, and delightful health experience,” said Jean-Charles Samuelian, Alan co-founder and CEO. “Moving fast – it has been only 10 months since our last fundraising – with the support of top-tier investors is a confirmation of our vision to build intuitively obvious healthcare for the community. We are human-focused and care-driven. We aim at building a different kind of company based on transparency, trust, and care both for our users and our team.”
“We are excited to continue our partnership with Jean-Charles, Charles and the rest of the Alan team as they re-design health insurance and healthcare more generally,” said Tom Stafford, Managing Partner of DST Global. “Legacy solutions lead many employers to provide limited and inefficient health insurance for their employees. Through Alan, companies can sign-up quickly and easily and offer best-in-class healthcare for their employees at a competitive price and in a digital format.”