Prime Highlights
- Prosus is leading a €480 million investment in Alan at a €5.5 billion valuation, marking one of Europe’s biggest private financings outside AI this year.
- Alan’s chief executive said the company aims to become the global leader in prevention insurance and is on track to exceed €1 billion in annual recurring revenue this year.
Key Facts
- Alan is a Paris-based health tech company that sells AI-powered health insurance to corporate clients and offers virtual medical services through its app.
- Prosus is a European technology investment group; this deal ranks among its largest minority investments to date.
Background
European tech group Prosus is leading a €480 million investment in French health tech company Alan, in one of Europe’s largest private financings outside artificial intelligence this year. The deal values the ten-year-old company at €5.5 billion, up from €4 billion two years ago.
Alan, which sells health insurance to corporate clients including Volkswagen and the French government, has grown to more than 1.1 million members. The company is on track to exceed €1 billion in annual recurring revenue by the end of this year. Sales grew 53% year on year in the first quarter, reaching €800 million in annual recurring revenue.
The company makes extensive use of AI across pricing, claims handling, and customer acquisition. Its app offers virtual doctor consultations and an AI assistant called Mo, which can book appointments and triage patients. Alan is led by a co-founder of the French AI group Mistral.
Chief executive Jean-Charles Samuelian-Werve said the fresh capital would help Alan expand into new markets, adding that the company aimed to build the global leader in prevention insurance. He described Alan as the most AI-advanced company in healthcare.
Alan is profitable in France, which accounts for roughly 80% of its revenues, but remains loss-making overall. The fundraising comes three months after the company raised €100 million separately.
Prosus’s head of investments, Fahd Beg, said healthcare regulations and complexity made Alan resilient to AI disruption. He added that recent restrictions on advanced US AI models reinforced the need for Europe to build its own technology champions. The deal includes both new capital and a secondary share sale, with existing investors also participating.
