Topics
late
AI
Amazon
Image Credits:Alan
Apps
Biotech & Health
mood
Image Credits:Alan
Cloud Computing
Commerce
Crypto
Image Credits:Romain Dillet / TechCrunch
endeavor
EVs
Fintech
Image Credits:Romain Dillet / TechCrunch
Fundraising
Gadgets
Gaming
Alan’s office rooftop.Image Credits:Alan
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
security department
Social
quad
Startups
TikTok
Transportation
speculation
More from TechCrunch
effect
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
After raising massive funding rounds, Alan says profitability is in sight
Alan ’s meteorologic rise in the French tech ecosystem has been both nonliteral and literal . A few years ago , the startup ’s office was limited to one base in a characterless office edifice near the Canal Saint - Martin in Paris .
Over prison term , the company added another base , then another floor — now the caller of 550 employees also occupies the top floor of the building . It ’s a common sphere with a kitchen in a corner and a beautiful view of Paris ’ distinctive gray zinc rooftops .
This dawn , Alan ’s co - laminitis and CEO Jean - Charles Samuelian - Werve and its chief revenue officer , Ludovic Bauplé , contain a press conference with a group of reporters . Some of them cover tech startup , while others focus on the indemnity industry . It ’s an unusual mix of reporters but that ’s because Alan is an strange companionship .
The company originally bug out with a health insurance product that complements the national health care system in France . French companies must provide a wellness insurance production to all their employee when they unite . Today , over 500,000 people are covered by Alan ’s insurance policy ware .
But Alan is also a tech company that has raise quite a few funding rounds . With its most recent € 183 million Series E support circle ( $ 196 million at today ’s exchange rate ) , the company reach a evaluation of € 2.7 billion ( $ 2.9 billion ) .
Alan has integrated and automated as many thing as possible for its core Cartesian product , the insurance part . It has also expanded to other services so that its app can be a sort of a one - stop shop for all things interrelate to your wellness .
After years of volatile maturation , the French tech ecosystem has slowed downwith backing drying up and many companies look for a quick exit — unless you ’re work for a productive AI caller . As Alan is one of the big private tech company in France , it ’s interesting to keep a unaired eye on the caller to infer how it learn the future .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Still $63 million in losses in 2023
Despite 39 % of tax income growth in 2023 compared to 2022 , Alan is still losing quite a bit of money . In 2023 alone , the company reported $ 63 million in losses ( € 59 million ) .
But things are improving . Last yr , 5,000 companionship became young client . In France , Alan is no longer the coxa wellness insurance company for tech inauguration , as novel node include Celio , Duracell , Mantu , and Clinitex , as well as the employees of France ’s National Assembly .
Alan also operates in Belgium and Spain . And the difference is quite clear in Spain , for instance , as Alan name N26 , Cabify and Eventbrite as new client in the rural area — in other lyric , technical school company with local teams in Spain .
“ Profitability is a heart issue for us . Our goal has been to hit profitability in 2025 for France . And we are confirm it once again , ” Bauplé suppose . As for other markets , the company say that it expects to be profitable as a whole in 2026 .
“ Our cash position is more than € 180 million . Our solvency proportion is now 450 % , which is well above the minimal requirement and twice the market average , ” Bauplé added .
Does it entail that Alan is done with funding rounds ? This part is a minute unclear , as it has become much gruelling to grow tardy - microscope stage round at high rating . Things could change . And of course , never say never .
“ We do n’t involve to elevate a new round to stay on plan and maintain this growth pace until we hit profitability , ” Samuelian - Werve enjoin later in the conversation . “ At the same meter , we ’ve have unasked offers from investor in the past . . . we ’ll continue to wait at them , but today that ’s not really our strategy . ”
Growing revenue, not costs
Alan ’s path to gainfulness includes arise the fellowship ’s bottom line without inevitably grow much as a squad . powerful now , Alan has a gross border of 10 % after deduct all health reimbursement . But if you admit all expenses , the net tolerance becomes minus at – 17 % .
In 2024 , Alan expects to grow its revenue by 40 % . But the company only plans to employ 30 people — a modest 5 % increase in its hands .
That ’s because Alan ’s service has been designed to scale well without needfully adding more citizenry . It ’s a self - service app and service . Reimbursements are automated as much as potential with optical character recognition , a fraud engine that has been developed in - household , automated bank transference , etc .
Preventive concern in the app is also a big part of Alan ’s offering with a focus on eight unlike topics range from mental health to back pain . This part is mostly handle by a library of videos and 80 health professionals who partner with Alan to respond questions via a messaging interface .
Alan also says that artificial intelligence is going to be cardinal when it amount to scale . Like with many customer support teams today , some of the interaction between Alan ’s customers and its team are optimized by hokey intelligence information .
But all team leverage artificial intelligence agency in one way or another . Alan CEO Samuelian - Werve secern me that every employee is now 40 % more productive .
They get confluence account much faster thanks to reflexive transcription and LLM - powered summaries . They useDustto interrogation AI assistants with the team ’s information . Developers can iterate faster thanks to AI copilots .
Samuelian - Werve also happens to be a non - executive co - laminitis and gameboard member ofMistral AI , France ’s much lecture about foundational model Godhead . In fact , Mistral AI ’s office is located in the same edifice as Alan ’s agency .
While it ’s grueling to raise monolithic financial backing rung in France , stilted intelligence might seem as an option to ever - growing teams at Big Tech companies like Alan .
That might not work out for every tech company , as Alan ’s interior culture is quite particular . Everything is written down and fully transparent with even check - in from teammates . Nevertheless , it ’s a matter-of-fact example of the tangible - world impact of artificial intelligence on the financial mind-set of a tech company at the maturation stage .
