Trinity Capital backs Beam Benefits
Trinity Capital has committed $40 million in growth capital to Beam Benefits , an employee benefits company. Founded in 2012, Beam started by modernizing dental benefits and has since expanded into a provider of ancillary benefits, including dental, vision, life, disability, and supplemental health coverage.
This funding news comes on the heels of Tolithia Kornweibel’s appointment as CEO, effective October 31, 2024. Kornweibel, who succeeds co-founder Alex Frommeyer, brings nearly three decades of leadership experience, with notable roles at Gusto, Esurance, and Netflix.
Beam Benefits has raised a total of $208.43 million – prior to this commitment – across eight funding rounds. Currently, the company employs 222 people, though its workforce has shrunk by 6% in the past six months and 29% over the past year, according to LinkedIn data.
“Beam Benefits has changed the way small businesses access and offer valuable ancillary benefits to their employees and their continued success is a reflection of how the Beam platform has resonated with business owners across the country. We look forward to our partnership with Beam and supporting their continued growth.” – Jack McNamara, Director, Tech Lending, at Trinity.
“We couldn’t be more excited about our partnership with Trinity. These funds will continue to propel Beam’s modernization of employee benefits by building extraordinary tools that empower brokers and partner benefits providers all over the US.” – Alex Frommeyer, CEO and co-founder of Beam Benefits.
