Tech investor Prosus is backing Alan, a French AI-powered health insurer, with a $6.3 billion valuation in a new funding round. The deal sees Prosus investing 400 million euros through newly issued and existing shares, with additional participation from Dara Holdings, Teachers' Venture Growth, and Index Ventures.

The investment will fuel Alan's expansion across major European markets. The company currently operates in France, Spain, Belgium and Canada, where it has built a digital healthcare platform leveraging artificial intelligence for insurance services.

Alan's annual recurring revenue jumped 53% year-over-year, exceeding 800 million euros in the first quarter. This growth reflects strong demand for digital health solutions as insurers modernize their offerings with AI-driven tools.

Prosus sees significant potential in Alan's AI-first approach to healthcare. The investment represents a strategic move into the rapidly evolving digital insurance space, positioning the company for international expansion.