Alan, a prevention InsurTech valued at €5.5bn ($6.3bn), has secured a €480m ($550m) Series G financing round led by Prosus, with participation from existing shareholders Teachers' Venture Growth (TVG) and Index Ventures, as well as new investor Dara Holdings.
The raise values Alan at €5.5bn and marks one of the largest InsurTech funding rounds in Europe this year. The closing of the financing remains subject to regulatory approvals, including sign-off from the relevant French financial authorities.
Alan has used the past decade to move beyond its origins as a conventional health insurer, pioneering what it describes as a new category, prevention insurance.
The company integrates health coverage, care navigation, wellbeing services and AI-powered health assistance into a single platform, enabling members to address health concerns before they escalate. It currently serves more than 1.1 million members and more than 37,000 businesses, as well as self-employed professionals and retirees, across France, Belgium, Spain and Canada.
The fresh capital will be deployed across several strategic priorities: expanding into new international markets, deepening the company's foothold in its existing four countries, pursuing acquisitions, and continuing to invest in artificial intelligence, healthcare services and product development.
Alan believes AI holds the potential to make personalised prevention and care navigation accessible to a far broader population, with the company arguing this could simultaneously improve health outcomes and reduce the long-term cost of care.
Alan co-founder and CEO Jean-Charles Samuelian-Werve said, 'Health can't wait, not for symptoms to get worse, not for a six-month appointment, not for the system to catch up. Yet that is exactly how healthcare works today. We believe great health is a universal right, and that prevention should be too.
'For ten years we have shown that technology can turn healthcare from reactive to proactive, helping people act early instead of reacting late. That is what prevention insurance is, and it's the category we are building. We selected Prosus for their very deep expertise in international expansion and consumer products and to benefit from the incredible ecosystem they are building. We are still at the very beginning of what Alan can become.'
Prosus Group head of investments Fahd Beg said, 'Healthcare presents one of the most significant global opportunities for AI-led transformation.
'Alan has built something unique: an integrated platform where insurance, prevention and care delivery reinforce each other, creating an exceptional healthcare experience for consumers and outstanding platform engagement. We're excited to partner with Alan to accelerate its international expansion and unlock value through our ecosystem.'