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To further modernize dental benefits, Beam Dental recently announced it has raised $80 million in Series E funding from a group of investors, including Nationwide Insurance. The round brings Beam’s total funding to more than $160 million. The capital will be used to expand into new markets, onboard additional employee benefits brokerages, and add product R&D.
Beam’s goal is to simplify the antiquated, paper-laden, $75 billion dental insurance industry for brokers, employers, and members with:
Founded in 2012 by three engineers, Beam has grown to 250 employees and increased its dentist network to 400,000 access points in all 50 states. The company serves employers in 41 states. Its revenue has grown by 600% over the past three years, and it doubled its member base in 2019 and again in 2020.
Alex Frommeyer, Beam’s CEO and co-founder, said the company, as part of the partnership with Nationwide Insurance, already offers life insurance and soon will offer disability insurance. Through another partnership with VSP, it began offering vision insurance a few years ago.
As the only digitally native dental insurance company, Beam leverages technology to promote better overall health for its members and provide more accurate benefit pricing for its employers. Since its inception, Beam has driven innovation in the dental industry and enhanced the digital experience for its members, employers, and brokers.
Learn more about Beam’s dental plan options, nationwide network, Perks, Lighthouse, SmartPremiums, vision coverage through VSP, and group term life and AD&D coverage through Nationwide.
Contact your Claremont team at 800.696.4543 or email@example.com.