Beam Dental Raises $55M
Beam Dental, “the country’s fastest growing dental benefits provider,” announced a $55m Series D round led by Georgian Partners. The round, which bring’s the company’s total funding to date to $80m, also features participation from existing investor Drive Capital.
Founded in 2012 with a mission to close the gap for the 100m Americans without dental insurance, Beam Dental created an end-to-end digital experience for dental insurance, using data to provide individualized quotes to small and medium employers “who were overlooked by incumbents.”
With a philosophy that better preventive dental care results in fewer costly interventions over time, the company offers Beam Perks, a semi-annual subscription service included for all Beam members that consists of a connected toothbrush – the Beam Brush, paste, floss and refill heads. The Beam Brush aggregates brushing engagement data which is used for premium discounting at the employer’s renewal.
Beam already offers its dental plans alongside vision insurance in partnership with VSP in 27 states and expects to be able to reach more than 90% of the US population by the end of 2019.
“Beam’s focus on delivering a market leading customer experience and their innovative use of technology and data is unique in the industry. We’re thrilled to be partnering with Beam as they continue to innovate and accelerate their growth in the dental insurance market.” – Tyson Baber, Partner, Georgian Partners.
“At Beam, we believe that we offer the best experience for employers and their dental care needs. We’re excited to join the Georgian portfolio, which will be integral to us delivering on our mission and continuing our trajectory.” – Beam Dental’s CEO Alex Frommeyer.