Health insurance startup Alan reaches €5B valuation
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French health insurance startup Alan has achieved a valuation of €5 billion ($5.83 billion), up from €4.5 billion in 2024. Founded in 2016, Alan serves one million clients and plans to invest in technology and AI. The valuation follows a €100 million funding round led by Index Ventures and includes new investors. Alan has secured a contract for health insurance for 135,000 civil servants and reported €785 million in annual recurring revenue for 2025. The company aims for $1.16 billion in ARR by 2026 while focusing on international expansion and product improvements.
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