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Behind the scenes: why we raised €23m

Behind the scenes: why we raised €23m
Updated on
10 May 2023
Updated on
10 May 2023
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We have just raised €23m ($28m) in Series A funding 🚀!

Less than two years after becoming the first health insurance company to be licensed in France since 1986 and announcing our ambitious €12m seed round, we are ecstatic to have closed the largest series A round in French InsurTech history.

The round was lead by Index Ventures. We are delighted to welcome Jan Hammer as our newest board member as well as Xavier Niel as a new investor. All of our previous investors (Open CNP, Partech, Portag3) are also re-investing.

I would like to start by saying how incredibly proud I am of the amazing team behind Alan. I absolutely ❤️ working with everyone. We have succeeded in raising such an ambitious Series A because of their dedication and the outstanding quality of their work. It is amazing what you can achieve with a small group of extremely talented people.

Our goal for this round was to align our means with our dreams. This fundraising is not about cash flow — we are almost break-even already — it is about turning Alan into a game-changing giant in the healthcare space.

Our Seed round was dedicated to get our insurance license, to launch our product and to iterate until reaching product market fit. Our strong word of mouth and steady organic growth, have convinced us that we are ready to dream bigger.

Building a company is quite a challenge. At Alan, we empower users to enjoy healthier lifestyles. We started by creating a health insurance company for individuals and companies, that they can trust as a service and enjoy as an experience. To achieve this goal, we challenged the status quo by crafting beautifully designed tools. Ultimately, we want to make health and well-being easy and accessible to all.

We will use the new funds to:

  • Accelerate growth to hit more than 100,000 users covered in the next three years

  • Grow the team to 80 employees by the end of 2018 with the best talents from around the world. This is a daily challenge and our main focus. We are so proud of the team and the culture we have built so far. We are determined to create a unique work environment in Europe where excellence and ambition meet well-being, respect and personal achievement.

  • Build Alan’s vision of empowering users to enjoy healthier lives with minimal effort with simple-to-use and well designed services to take better health-related decisions

We started the company by simplifying the offer of the health insurer, which is the central actor of the healthcare system. We have made health insurance as easy as ABC for employers and employees. We invest where the other players do not invest: in technology, care, and support for our users.

In 2018, we will continue to focus on building the best product for our users, adding more structure and scalability. Fundraising is not an achievement. It is just a step in our journey to accomplishing our vision of making the overall health experience for our users simpler, smarter and better.

Because simplifying healthcare is making it accessible to the greatest number.

Coming soon: How we raised the largest Series A in France in less than 10 days.

Jean-Charles Samuelian — CEO & cofounder @ Alan

Published on 10/04/2018

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