FOCUS UNICORN | Alan, in the process of overturning insurance codes

Each week, discover a French Tech unicorn, its figures and its development prospects. Forbes France offers you an inventory of the various tricolor nuggets valued at more than one billion.

“Most people thought we were crazy to create an insurance company to improve our health system, admits Jean-Charles Samuelian-Werve, co-founder of Alan in a letter addressed to his shareholders. But it’s the foolish bets that lead to extraordinary results. »

And this year, on the occasion of his sixth birthday, Alan seems well on his way to shaking up insurance codes. With his brand new fundraising of 183 million euros completed in early May, Alan doubled his market valuation to reach 2.7 billion euros.

For a total of 556 million euros raised, the unicorn Alan is now one of the top 5 insurtechs with the most investments in the world, just behind the American neo-insurers Collective Health and Next Insurance as well as the German WeFox. , first in the standings.

Alan’s goal is to simplify access to virtual and physical care by expanding the range of health services to cover the entire health journey of members. Lately, it also offers mental well-being services in order to de-stigmatize access to care related to mental health and allow HR and managers to support their employees in their search for mental well-being.

The latest growth figures:

In the first quarter of 2022, Alan posted an ARR (Annual Recurring Revenue) of 182 million euros and reached the threshold of 289,000 policyholders.

Last lift to date:

The last fundraising was completed in May 2022 for 183 million euros from the Teachers’ Venture Growth (TVG) fund, a branch of the Canadian pension fund Ontario Teachers’ Pension Plan (242 billion Canadian dollars), with the participation from existing and new investors including Temasek, Index, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar.

Workforce:

The unicorn currently has 525 “Alaners” distributed in more than 9 countries and more than 70 different cities. Alan wants to recruit 1,000 new employees by 2025 in France and Europe.

New objectives for 2022:

  • In France: automate all administrative tasks for HR; provide state-of-the-art provident services, with a new proprietary system to manage claims; develop new mental health tools and workshops dedicated to the well-being of employees, intended for HR professionals.

  • In Belgium: focus on the development of Alan Mind and Alan Clinic; adapt its insurance offer to the needs of Belgian Alan members.

  • In Spain: strengthen the network of mental health specialists to speed up direct access to therapy from the Alan Mind app.

  • In general: to become the reference in terms of mental well-being in Europe and by the end of 2025, to become the preferred partner of 3 million people in terms of health and to make its model profitable.

IPO ?

Not communicated.

Quote from co-founder Jean-Charles Samuelian-Werve:

“The future is very bright and we are only at the beginning. Our mission is to make health a personal, proactive and holistic experience for everyone every day — while striving to be the most member-friendly health company in the world. »

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