Health insurance startup Alan is now worth €5bn after raising a €100m funding round led by Index Ventures.
Alan, a health insurance platform for businesses, was last valued at €4bn when it raised €173m in a Series F funding round in mid-2024. The company has now raised €754m since launching in 2016.
Alongside Index, the latest round was backed by San Francisco-based VC firm Greenoaks and Dubai-based investor Kaaf, as well as prominent angels such as Shopify founder Tobi Lutke and French footballer Antoine Griezmann. Belgian bank Belfius, which led the company’s Series F round, also participated.
With industry giants like HP and Volkswagen among its customers, Alan said it reached €785m in annual recurring revenue (ARR) last year, with a target of €1bn by the end of 2026.
Without sharing numbers, the company said it had reached profitability in its home country of France, which remains its biggest market. The company has expanded into Belgium, Spain and Canada. The company also launched Alan Clinic in February, a mental health service integrated straight into the app.
In a recent interview with Sifted, cofounder Jean-Charles Samuelian-Werve — who also helped set up French AI startup Mistral — said both “could become trillion-dollar companies”.
“If you have the best product, the best service, the best technology and the best distribution, whatever happens you will find a way to win,” says Samuelian-Werve. “That’s my thesis and what I’m obsessed with.”
