Paris-based digital health insurance platform Alan has secured a Series B round investment where it has picked $45 million (€40 million). The latest financing was led by existing backer Index Ventures which had led the last investment round as well when the company had raised $28.3 million as part of Series A capital infusion.
DST Global also participated in the investment round which takes the total capital raised by the firm to $86.6 million. The other notable backers of the firm include Portag3 Ventures, Partech, CNP Assurances, AGORANOV, Power Financial Corporation, Xavier Niel and others.
The company was launched in 2016 by Charles Gorintin and Jean-Charles Samuelian as a platform which offers an excellent price-quality ratio health plan. The company put a lot of focus on user experience during the process of checking a plan in order to attract users across France.
The firm now plans to expand its operations across Europe. Notably, the firm has managed to get an official health insurance license, becoming the first one in the country in nearly 30 years. The fresh funding will allow the firm to strengthen the current team of 64 employees.
Jean-Charles Samuelian, the CEO of Alan talking about the company said, "At Alan, we want to create a dramatic move to a more transparent, caring, and delightful health experience. Moving fast – it has been only 10 months since our last fundraising – with the support of top-tier investors is a confirmation of our vision to build intuitively obvious healthcare for the community. We are human-focused and care-driven. We aim at building a different kind of company based on transparency, trust, and care both for our users and our team.”
The company claims to have recorded more than 500% revenue growth in 2018. It says that it has a user base of more than 27,000.
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