Healthcare That Knows You: Our Continued Investment in Alan

I first got to know Jean-Charles Samuelian-Werve and Charles Gorintin when Alan was little more than a thesis and a tiny team. What struck me straight away was the scope and precision of their ambition. They weren’t pitching a better insurance product, but describing a future in which insurance, clinical care and prevention would be indistinguishable from one another, experienced by consumers as a single service, instantly available at their fingertips. Today, as Alan nears its 10-year anniversary, we’re delighted to lead a new funding round valuing the company at nearly $6 billion, as it gears up to go from a million members to dozens of millions around the world.

There are moments when a technology shift doesn’t improve a company’s product so much as affirm its reason for existing. For Alan, that moment is now. At the start, JC and Charles’ vision outstripped what was technically possible. To deliver on it, you needed to understand each member individually, including their risks, medical history, and habits. And you needed to do that not for a handful of patients, but at scale. That is what AI now makes possible – and it is why Alan’s architecture, years in the building, has powerfully come into its own. Better data produces better care, which produces healthier members, which produces more useful data. The flywheel that Alan’s founders envisioned is now turning.

Alan also embodies a model I believe will define the next generation of category-leading companies: deep vertical integration across every layer of the member experience. Most technology businesses in healthcare have chosen a lane. They are either software layers – analytics dashboards, telehealth connectors, claims automation tools – or they are service providers with a tech veneer. Alan is neither. It holds the regulatory licence, writes the code, and owns the member relationship from sign-up to reimbursement to ongoing care. Every piece of the stack informs every other piece, and AI now multiplies the return on each of them simultaneously.

Most healthcare systems still run on the following logic: you fall ill, you seek help, and the system reacts. That model was strained even before chronic disease overtook acute illness as the dominant burden on health systems worldwide, and before ageing populations began to reshape the economies of almost every developed nation. Alan is building for what comes next – helping you stay healthy, rather than treating you when you’re sick. Through its AI-powered services, personalised wellness programmes and preventive care pathways, Alan shifts the point of intervention upstream from the hospital and the pharmacy to daily life.

The Index team has believed in that vision since the beginning, and this round reflects our conviction that the most consequential chapter is still ahead. We can’t wait to see what’s next.