Alan Revenue, Valuation, Funding & Investors

Alan is valued at $6.4B as of June 2026, a 7.2x revenue multiple. Alan revenue was $890M, as disclosed with its latest round.

See full Alan profile

Last Alan valuation

$6.4B

Series G · Jun 2026

Last Alan funding round

$559M

Series G · Jun 2026

Alan revenue

$890M

Series G · Jun 2026

Key investors in Alan

  • Index Ventures
  • Temasek
  • Coatue
  • Ontario Teachers' Pension Plan
  • Partech
  • Ribbit Capital

Alan Overview

About Alan

Alan is a Paris-based health insurer founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin. It was the first new independent health insurer licensed in France in about thirty years and underwrites its own policies, selling cover to employers and their staff through a mobile app and web platform that handle quotes, claims and reimbursements. The company operates in France, Spain, Belgium and Canada, has more than 1.1 million members and reported more than EUR 800 million in annual recurring revenue in early 2026. Beyond insurance it provides prevention and care services such as mental health support, telemedicine and preventive blood testing. Its Series G of EUR 480 million in June 2026 valued it at EUR 5.5 billion. It has bought the mental health app Jour in 2021, the preventive health start-up ARO in 2026 and the African digital health company Tanel in 2026.


Founded

2016

HQ

FranceParis

Website

alan.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$890M (Jun 2026)

Valuation

$6.4B (Jun 2026)

Alan Valuation

Alan is currently valued at $6.4B, based on its Series G in June 2026. Read the announcement ↗

The $559M round was led by Prosus, with participation from Dara Holdings, Index Ventures and Ontario Teachers' Pension Plan.

Alan's valuation has grown 3.8x from $1.7B at its Series D in April 2021 to $6.4B in June 2026, across 5 priced rounds.

Alan valuation by funding round

Revenue multiple
Alan valuation by funding round
DateStageValuationRevenue Multiple
Jun 2026Series G$6.4B7.2x
Mar 2026Undisclosed stage$5.9B6.4x
Sep 2024Series F$4.5B8.6x
May 2022Series E$2.9B13.5x
Apr 2021Series D$1.7B14.5x

Alan Revenue

Alan's latest recorded revenue is $890M, as of its Series G in June 2026. At a $6.4B valuation, that implies a 7.2x revenue multiple.

Revenue grew from $25M in February 2019 to $890M in June 2026.

Alan revenue by funding round

Alan revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2026$890M$6.4B7.2xSeries G
Mar 2026$915M$5.9B6.4xUndisclosed stage
Sep 2024$518M$4.5B8.6xSeries F
May 2022$214M$2.9B13.5xSeries E
Apr 2021$115M$1.7B14.5xSeries D
Feb 2019$25M--Series B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Alan Funding History

Alan has raised a total of $1.4B across 9 funding rounds.

Alan's first fundraising round was a $13M seed round in October 2016. The most recent completed round was a $559M Series G in June 2026.

Alan funding rounds

Alan funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series GProsus (lead); Dara Holdings; Index Ventures; Ontario Teachers' Pension Plan$559M$6.4BFrench healthtech startup Alan raised €480 million ($550 million) in a Series G funding round, valuing the company at €5.5 billion ($6.3 billion). The round was led by Dutch investment giant Prosus, which contributed €400 million ($460 million) in primary and secondary equity, alongside existing investors Teachers' Venture Growth (TVG) and Index Ventures, and new investor Dara Holdings. The deal supports Alan's international expansion across France, Spain, Belgium, and Canada while accelerating the development of its artificial intelligence-led prevention insurance products. In Q1 2026, Alan surpassed €800 million in annual recurring revenue, representing 53% year-on-year growth. This round boosts Alan's valuation by at least €500 million in under three months since its previous €100 million raise at a €5 billion valuation. The company has now raised over €1.2 billion in total funding across nine rounds. The transaction remains subject to regulatory approvals from French financial authorities.
Mar 2026Undisclosed stageIndex Ventures (lead); SH Capital; Greenoaks; Kylian Mbappé; KAAF Investments; Tobias Lütke; Mike Katchen; Belfius Bank; Antoine Griezmann$118M$5.9BAlan announced in March 2026 that it had raised EUR 100 million in a round valuing the company at EUR 5 billion, up from EUR 4.5 billion at its September 2024 Series F. Index Ventures backed the round together with Shopify chief executive Tobias Lutke and the footballer Antoine Griezmann. Alan said it reached EUR 785 million in annual recurring revenue in 2025, up 53% on the year, and is targeting EUR 1 billion in 2026. It reported net losses of EUR 56 million in 2024 and says it is approaching operating break-even. The company has about 740 employees and has raised roughly EUR 750 million since 2016. Founded in Paris, Alan is a health insurer that sells cover to employers and individuals and adds prevention and care services.
Sep 2024Series FBelfius Bank (lead); Temasek; Ontario Teachers' Pension Plan; Lakestar; Coatue$193M$4.5BAlan is a French health insurance startup founded in 2016 that offers AI-powered, user-friendly health services including doctor chats, prescription orders, insurance sign-up, plan management, claims submission, and reimbursement processing through a mobile app or web portal. The company covers over 650,000 members and operates across France and Belgium, with Belgium as its second-largest market. In September 2024, Alan raised $193 million in its Series F funding round led by Belgian bank Belfius, valuing the company at $4.5 billion post-money. The round included participation from existing investors Ontario Teachers' Pension Plan (via Teachers' Venture Growth), Temasek, Coatue, and Lakestar, plus prominent entrepreneurs from France and internationally. At the time of this round, Alan expected to hit €450 million in annual recurring revenue for the year. The investment included a multi-faceted partnership with Belfius beyond the capital injection. The bank agreed to provide Alan's health insurance products to its 7,000 employees and distribute them to its corporate and institutional clients, representing millions of employees in Belgium. This distribution partnership was designed to significantly expand Alan's customer base in its second-largest market. The company has demonstrated strong growth trajectory since joining the unicorn club in 2021, raising approximately €750 million cumulatively since inception. However, Alan remained unprofitable during this period, reporting net losses of €61 million in 2023 and €56 million in 2024, though losses as a percentage of revenue had improved significantly year-over-year.
May 2022Series EOntario Teachers' Pension Plan (lead); Temasek; Dragoneer; Index Ventures; Origins Fund; Ribbit Capital; Teampact ventures; Lakestar; Coatue; Exor Ventures$197M$2.9BAlan announced on 4 May 2022 that it had completed a EUR 183 million Series E financing led by Teachers' Venture Growth, the growth equity arm of Ontario Teachers' Pension Plan, at a total valuation of EUR 2.7 billion. The company said it served 300,000 members in France, Spain and Belgium and had close to EUR 200 million in annualized revenue. The round followed the EUR 185 million Series D of April 2021 that made Alan a unicorn. Existing investors including Index Ventures, Coatue, Temasek, Ribbit Capital, Exor Ventures, Dragoneer and Lakestar are reported to have taken part. Alan was founded in Paris in 2016 and underwrites its own health insurance policies, selling them to companies and their staff with a mobile app and healthcare services such as mental health support.
Apr 2021Series DCoatue (lead); Temasek; Ambel; Dragoneer; Index Ventures; Ribbit Capital; H14; Exor Ventures$222M$1.7BAlan is a French insurtech startup founded in 2016 that provides health insurance and a healthcare super-app, offering transparent pricing, personalized care, proactive health services, and integrations like APIs and payroll for companies from startups to enterprises. By April 2021, it covered around 155,000 to 160,000 members across France, Belgium, and Spain, with clients including WeWork, Deliveroo, Just Eat, Vitaliance, and Big Mamma. On April 19, 2021, Alan raised a $220 million (€185 million) Series D funding round led by Coatue, with participation from Dragoneer Investment Group, Exor Ventures, and existing investors Index Ventures, Ribbit Capital, and Temasek Holdings, achieving a post-money valuation of $1.67 billion (€1.4 billion). The round matched the investors and lead specified, following a prior $54 million raise in April 2020 from Index and Temasek. Funds were earmarked for international expansion, hiring 400 more staff to reach about 750 employees, product development including healthcare services, and scaling to 1 million members in Europe by 2023. At the time of the round, Alan reported over €100 million ($120 million) in annualized revenue, reflecting strong growth after doubling its member base since the previous round and ending 2020 profitably despite regulatory capital needs for insurance compliance. The company had sufficient cash runway for 12-18 months post-round. Alan's model disrupts traditional health insurance with a mobile-first app combining coverage checks, claims filing, prevention programs for mental health and wellness, and concierge services, positioning it as a comprehensive health partner in a post-pandemic world.
Apr 2020Series CTemasek (lead); Index Ventures$55M-Alan is a France-based digital health insurer founded in 2016, offering online health insurance plans for individuals and companies, underwriting its own policies as the first new independent health insurer in France in three decades. It also provides telemedicine appointments and an app for locating medical professionals. The company closed a €50 million ($54.4 million) Series C round on April 20, 2020, led by Singapore's Temasek Holdings with participation from existing investor Index Ventures, bringing total funding to €125 million ($141 million). Prior rounds included a €40 million Series B in February 2019 led by Index Ventures, a $28.4 million Series A in 2018 also led by Index Ventures, and a $13 million seed in 2016 led by CNP Assurances. The funds will support opening two new European offices, improving health insurance coverage, digitizing corporate healthcare offerings, developing a leading app for instant health info, and international expansion.
Feb 2019Series BIndex Ventures (lead); DST Global$46M-Alan is a Paris-based health insurance technology company founded in 2016 as the first new independent health insurer licensed in France since 1986. The company offers digital-first health insurance services to employers and individuals, allowing customers to choose doctors, obtain quotes, and receive reimbursements through its technology platform. In February 2019, Alan closed a €40 million Series B funding round led by Index Ventures and partners of DST Global. This followed the company's €23 million Series A round in April 2018, bringing total capital raised to over €75 million in its first three years of operation. At the time of the Series B announcement, Alan had grown its insured customer base to 27,000 and reported €22 million in revenue for 2018, serving companies including My Little Paris, Le Slip Français, Ledger, and Converteo. The company's team expanded from 14 to 64 employees during 2018. Alan stated it was very close to breaking even and planned to use the Series B funding to accelerate payments processing, improve quote response times, enhance customer service, launch new services, and expand its user base and team.
Apr 2018Series AIndex Ventures (lead); CNP Assurances; Portage Ventures; Partech; Xavier Niel$28M-Alan announced in April 2018 that it had raised EUR 23 million, about US$28 million, in a Series A financing led by Index Ventures. Xavier Niel invested alongside earlier backers OPEN CNP, Partech and Portag3 Ventures. Index Ventures described it as the largest Series A in the French insurance technology sector. The round followed a seed of about EUR 12 million raised in 2016. Alan was founded in 2016 and is the first new independent health insurer licensed in France in about thirty years. It sells health cover to employers and their staff, with a mobile app for quotes, claims and reimbursements. The funds were to be used to expand the team and extend the product range.
Oct 2016SeedCNP Assurances; Partech; Power Financial; AGORANOV$13M-Alan, the Paris-based digital health insurer, raised a seed round of about 12 million euros in 2016, described by Index Ventures as one of the biggest French seed rounds. CNP Assurances took part through its OPEN CNP programme, and the round also drew Partech and Power Financial together with other backers. The company was founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin to build the first new independent health insurer licensed in France in roughly thirty years. The money funded the licence, the product and the first hires ahead of the commercial launch in 2017. Alan sells health cover to companies and their staff through an app that handles quotes, claims and reimbursements. The seed was followed by a EUR 23 million Series A in April 2018.

Who has invested in Alan?

29 investors have backed Alan across its funding rounds, including Index Ventures, Temasek, Coatue, Ontario Teachers' Pension Plan, Partech and Ribbit Capital.

Lead investors include Prosus, Index Ventures, Belfius Bank, Ontario Teachers' Pension Plan, Coatue and 1 other investor.


Alan Investors

Investors in Alan by funding rounds participated
InvestorHQRoundsRoleFirst check
Index VenturesUnited KingdomLondon7LeadApr 2018
TemasekSingaporeSingapore4LeadApr 2020
Ontario Teachers' Pension PlanCanadaToronto3LeadMay 2022
CoatueUnited StatesNew York City, NY3LeadApr 2021
DragoneerUnited StatesSan Francisco, CA2ParticipantApr 2021
CNP AssurancesFranceParis2ParticipantOct 2016
PartechFranceParis2ParticipantOct 2016
Ribbit CapitalUnited StatesPalo Alto, CA2ParticipantApr 2021
Belfius BankBelgiumBrussels2LeadSep 2024
LakestarSwitzerlandZurich2ParticipantMay 2022
Exor VenturesNetherlandsAmsterdam2ParticipantApr 2021
SH CapitalUAEDubai1ParticipantMar 2026
AmbelBelgiumAntwerp1ParticipantApr 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Alan

Alan has acquired 4 companies to date.

Last acquisition by Alan was on September 2nd 2026. Alan acquired Tanél Health for undisclosed valuation.


Latest Acquisitions by Alan

Tanél Health
ARO
Wave.ai
Jour
Description
Tanél Health is a software provider for pharmacies and payers, offering an integrated operating system with inventory management and sales monitoring features. Headquartered in the United States, the platform connects pharmacies, suppliers, insurers, and patients to streamline drug distribution, compliance, and reimbursement processes. Tanél Health serves independent pharmacies and health systems across North America.
ARO develops health prevention technologies.
-
Jour is a Brooklyn, New York-headquartered mobile app that delivers guided journaling sequences for teens and adults addressing mental health and mindfulness. Launched in January 2019, the platform offers audio sessions and prompted questions to foster reflective writing and build a personal archive of insights.
HQ CountrySenegal--United States
HQ City
Dakar
-
-
New York City, NY
Deal Date2 Sep 20268 Mar 202627 Jun 202421 Sep 2021
Valuationundisclosedundisclosedundisclosed$20M
EV/Revenue
EV/EBITDA

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Alan Competitors

Alan competitors include listed companies like Oscar Health, Baige Online, PB Fintech and Accelerant, and private ones like wefox and Angle Health.

Public and private companies comparable to Alan
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Oscar HealthUnited StatesUnited StatesPublicly listed$12B($391M)$9.5B0.5x
Baige OnlineChinaChinaPublicly listed$184M($5M)$5.1B-
PB FintechIndiaIndiaPublicly listed$722M$59M$4.8B5.5x
wefoxGermanyBerlinPrivate$350M-$4.5B12.9x
AccelerantUnited KingdomUnited KingdomPublicly listed$880M($1.2B)$4.3B3.9x
Angle HealthUnited StatesSan Francisco, CAPrivate--$2.7B-

Alan Public Comps

Alan is still privately-owned, but its public comps include Oscar Health, Baige Online, PB Fintech, Accelerant, Lemonade, Slide Insurance Holdings, Rasan, Clover Health, Ethos Insurance and ZhongAn.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Oscar Health$12B($391M)0.8x0.5x(24.4x)13.2x
Baige Online$184M($5M)27.5x-(969.6x)-
PB Fintech$722M$59M6.6x5.5x80.9x52.5x
Accelerant$880M($1.2B)4.9x3.9x(3.5x)13.8x
Lemonade$738M($146M)4.2x2.7x(21.2x)(51.9x)
Slide Insurance Holdings$1.2B$605M2.6x1.8x5.0x4.8x
Rasan$174M$73M16.2x10.4x38.9x24.5x
Clover Health$1.9B($84M)1.3x0.9x(30.8x)35.6x

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Common questions about Alan

When was Alan founded?Alan was founded in 2016.
Where is Alan headquartered?Alan is headquartered in Paris, France.
Is Alan publicly listed?No, Alan is a private, VC-backed company.
What is Alan's valuation?Alan was last valued at $6.4B in its Series G in June 2026.
How much funding has Alan raised?Alan has raised $1.4B across 9 funding rounds.
What was Alan's last funding round?Alan's last funding round was a $559M Series G in June 2026, led by Prosus.
Who are Alan's investors?Alan's investors include Index Ventures, Temasek, Ontario Teachers' Pension Plan, Coatue, Dragoneer, CNP Assurances, Partech, Ribbit Capital, Belfius Bank, Lakestar and 19 others.
What is Alan's revenue?Alan's latest recorded revenue is $890M (June 2026).
What is Alan's revenue multiple?Alan's latest valuation implies a 7.2x revenue multiple ($6.4B valuation on $890M of revenue).
Which companies are comparable to Alan?Companies comparable to Alan include Oscar Health, Baige Online, PB Fintech, wefox, Accelerant and Angle Health.
How many companies has Alan acquired?Alan has acquired 4 companies, including Tanél Health, ARO, Wave.ai and Jour.
What was the largest acquisition by Alan?The $20M acquisition of Jour in September 2021 is the largest acquisition Alan has made to date.

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