Alan, the first new health insurer licensed in Canada since 1957, has agreed to a Series G financing round of more than $780 million, valuing the company at $8.9 billion. The round is led by Prosus, with Ontario Teachers' Pension Plan returning for its third consecutive investment. Alan plans to use the funds to deepen its Canadian presence by doubling its team over the next 24 months and expanding from Toronto into Montreal, bringing its prevention-first, fully digital model to a group-benefits market dominated by three incumbents that together hold roughly three-quarters of coverage. The company, which now serves 100 Canadian employers and over 4,100 members, has seen member volume more than triple since the end of 2025. Alan operates in four countries, has surpassed 1.1 million members, and reached more than $1.3 billion in annual recurring revenue in the first quarter of 2026.
Prosus N.V.Prosus led the $780M Series G round, indicating a strategic investment in a high-growth insurtech.
Alan raised $780M at $8.9B valuation, with plans to expand in Canada, signaling strong investor confidence and growth capital.