Alan, the first health insurer in Canada since 1957, announces a $780 million round to scale its prevention-first model

Round led by Prosus, with continued backing from Ontario Teachers' Pension Plan – Alan enter a new phase of growth to transform healthcare through prevention, technology and AI

TORONTO, June 25, 2026 /CNW/ - Alan, the company building the new standard in prevention insurance, today announced an agreement for a Series G financing round of more than $780 million (€480 million; USD $550 million) , valuing the company at $8.9 billion (€5.5 billion; US＄6.3 billion). The round is led by Prosus, one of the world's largest technology operators and investors, with Ontario Teachers' Pension Plan returning to invest in Alan for the third consecutive round, since leading the Series E back in May of 2022.

Canada is a strategic market for Alan. Alan became the first new health insurance carrier licensed in Canada since 1957 and is now licensed in every province. With the new financing, the company plans to deepen its Canadian presence -- doubling the team over the next 24 months, and expanding from Toronto into Montreal -- and to bring its prevention-first, fully digital model to a group-benefits market long dominated by three incumbents that together hold roughly three-quarters of coverage. Growth in Canada has been strong, with member volume more than tripling since the end of 2025, a signal of strong market demand for a more innovative approach to health insurance. Alan today serves 100 Canadian employers and over 4100 members, runs its Canadian operations from Toronto,  launched a French-first offering for Quebec employers in January 2026, and is moving up market quickly having recently signed its first group of more than 1,000 members.

Over the past decade, Alan has evolved beyond its origins as a health insurer to pioneer a new category: prevention insurance. Healthcare today is built on waiting - for a six-month appointment, for symptoms to get worse, for insurance that only steps in once you are already sick. Alan is built to do the opposite: to act before health problems become bigger problems. It is the first company to bring insurance, prevention and care together in a single integrated experience - combining health coverage, care navigation, wellbeing services and AI-powered health assistance so members can act early, stay on top of their health and feel more in control every day.

Commenting on this announcement,  Jean-Charles Samuelian-Werve, Co-founder and CEO of Alan, said: "Health can't wait, not for symptoms to get worse, not for a six-month appointment, not for the system to catch up. Yet that is exactly how the Canadian healthcare system works today. We believe great health is a universal right, and that prevention should be too. For ten years we have shown that technology can turn healthcare from reactive to proactive, helping people act early instead of reacting late. That is what prevention insurance is, and it's the category we are building. We selected Prosus for their very deep expertise in international expansion and consumer products and to benefit from the incredible ecosystem they are building. We are still at the very beginning of what Alan can become."

Mark Goad, General Manager of Alan Canada, said: "Canadians are ready to raise their standards for health insurance - gone are: paper forms, slow responses, poor service, and high prices. We've built Alan in Canada around the idea that insurance should keep you in good health. This funding helps us move faster to bring prevention-first coverage to more Canadian employers and their teams."

The company enters this new chapter from a position of considerable strength. In Q1 2026, the company reached more than $1.3B (€800 million) in Annual Recurring Revenue, grew 53% year-over-year, surpassed 1.1million members and is profitable in France. Alan believes AI will fundamentally transform healthcare by making personalized prevention, navigation and support available to everyone. Combined with Alan's integrated healthcare platform, these technologies have the potential to improve outcomes for millions of people while reducing the long-term cost of care.

About Alan

Alan is building the new standard in prevention insurance -- the first company to bring insurance, prevention and care together in a single experience, serving more than 1.1 million members. Rather than only covering people when something goes wrong, Alan helps them stay one step ahead: acting before health problems become bigger problems and staying in control of their health every day. Alan is an independent company regulated by the French Prudential Supervision and Resolution Authority (ACPR). Members benefit from an integrated solution designed to support both their physical and mental wellbeing while simplifying their healthcare experience through seven-day-a-week customer support, access to doctors directly through the platform, and reimbursement services known for their reliability and speed. The company operates in four countries - France, Spain, Belgium and Canada - and serves more than 37,000 businesses as well as self-employed professionals and retirees. With a team of more than 850 people, Alan is dedicated to delivering an outstanding member experience, reflected in consistently high satisfaction ratings (above 4.2/5). Alan generates more than $1.3B (€ 800 million) in Annual Recurring Revenue and was valued at $8.9 billion (€5.5 billion) in 2026.

About Alan in Canada

Alan received a federal licence from the Office of the Superintendent of Financial Institutions (OSFI) in late 2024, becoming the first new health insurance carrier in Canada in nearly 70 years, and is now licensed in every province. It began commercial operations in 2025 and launched a French-first offering for Quebec employers in January 2026. Alan runs its Canadian operations from Toronto, with a planned expansion to Montréal, and offers employers a fully digital group-benefits experience -- sign-up and plan management online, fast reimbursements, seven-day-a-week support, in-app access to care, and free preventive resources for physical and mental health. Learn more at alan.com/en-ca.

SOURCE Alan

Media Contact: Heather Ritzer, 416.894.6848, [email protected]