French startup Alan has raised a $54.4 million (€50 million) Series C funding round. The new round was led by Singapore-based investor Temasek, with previous Alan backer Index Ventures also contributing.
With the close of the round, Alan has raised a total of €125m in equity. The InsurTech’s former funding round was a €40m Series B in February 2019 from investors including Index Ventures.
Alan has launched a directory of doctors around you. With Alan Map, you can easily find a health practitioner without any surprise — the company tries to predict how much you’re going to pay so that you can check if you’re 100% covered.
The company is looking to open offices in Spain and Belgium in the summer and will then expand into most European countries over the next five years.
France-based Alan is a fully-digital insurance solution for companies and independents. Consumers can access life insurance for themselves or families and select the number of years they wish to be covered for.
To help people during the coronavirus pandemic, Alan released its Coup de pouce, which offers free access to the latest available information on the crisis. Additionally, it offers a personalized symptom checker, free telemedicine services, and meditation, and yoga lessons.
Alan co-founder and CEO Jean-Charles Samuelian said, “Once the world begins to emerge from the COVID-19 health crisis, we believe that expectations and demands on the healthcare system will lead to a much faster transition to digital solutions. This is not just about convenience, but about delivering better care.”
Alan currently covers 76,000 people. It represents $63 million (€58 million) in revenue. At the end of 2018, Alan’s insurance covered 27,000 people. As you can see, the company is growing nicely.