09:00, May 5, 2022
The fundraising operation values Alan at 2.7 billion euros and propels him into the top five of French unicorns. Above all, it should allow it to increase its customer base tenfold and recruit a thousand new employees.
The fundraisers follow one another at Alan, just finalized, is the very last structuring?
With this series we recover 183 million euros in cash. The main investor, which participates in 80% of the rounds, is the Teachers’ venture growth, integrated into the Ontario teachers’ pension plan board. It is one of the largest pension funds in the world with $242 billion under management. Lakestar, a fund that invests in e-health and tech is the other newcomer. All existing investors, Temasek, Index, Coatue, Ribbit capital, Exor and Dragoneer are also following this capital increase. This lifting allows us to make a leap in terms of valuation. With her, Alan is valued at 2.7 billion euros, which should make him one of the top five French unicorns.
Will you retain control?
With my co-founder, Charles Gorintin, we each hold 15% of the capital and our employees, who are all shareholders, also collectively hold 15%. In addition, as founders Charles and I will retain the majority of voting rights.
How much does this exercise value the securities that you have regularly distributed to your employees since your creation in 2016?
Around 100 euros per unit at this level of valuation.
We are all ultra-passionate at Alan
What will you use this cash contribution for?
This will help us to become a global player in health and a European player in the field of mental well-being. We are giving ourselves three years to go from 300,000 to 3 million users. At the same time, we hope to hire 1,000 employees, thus tripling our workforce within three years. And we should be profitable in 2025. Currently, our annualized turnover is 200 million euros but we are not profitable. What gives us confidence in our ability to achieve this is that we are all ultra-passionate at Alan.
What types of profiles and where will you recruit?
We operate in three countries, France, Belgium and Spain, but our employees are in 9 countries, including the Netherlands, Ireland, Germany and Sweden. We hire where the talents are in Europe and as our employer brand is very good, this allows us to shine outside our three markets. Among the “Alaners” some telecommute full time, others come to the office every day, and still others work remotely. We will be looking for “data-scientists”, developers, engineers specialized in artificial intelligence as well as sales people, and profiles for customer service and marketing as well as to strengthen the insurance and medical team.
Read also – Jean-Charles Samuelian-Werve, CEO of Alan: “The key to better health for all is data”
In France, you are one of the leaders in 100% online health insurance, but where is the human element in your model?
We believe that the very good technique is intended to serve the human. It is necessary to favor highly qualified personal contacts to solve problems quickly and with empathy. But not to be reimbursed quickly, for example. We have people on our teams who can respond by chat or call back our users when a problem is complex. Our therapists also switch to videoconferencing when necessary.
Going public could be the next step
What does the services offered by your platform cover today?
Our online health mutual includes a digital care offer (Alan Clinic) which gives prevention advice, organizes teleconsultations and opens the doors to a virtual clinic where you can talk. Our users can try on glasses with augmented reality and pay for them through the Alan Clear app. We also offer prevention advice via our Alan Mind app in the world of mental health and well-being. We already have a feature, journaling, which converts a voice message into text and offers tailor-made programs and content. It is also possible to speak with therapists on the platform.
Do you also plan to develop in the United States?
In the immediate future, we will focus on Europe and go beyond our current borders which only cover France, Spain and Belgium. The potential is strong here. Approaching the United States is not a priority. Especially since the health system is very complex there and you have to obtain a license to practice for each state.
Do you plan to introduce Alan on the stock market soon and if so on which market?
Going public could be the next step but not before 2025. As for the market, we would prefer a European market and preferably the Paris Stock Exchange. Hopefully it will soon allow double voting rights like Amsterdam does.
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Alan’s CEO: “We are raising 183 million euros to become a global health player”
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