Beam Dental, an innovative provider of dental benefits to small and medium-sized enterprises, today announced that it has raised $5. Series 5M B Guided by St Louis-based Lewis & Clark Ventures, with the participation of Columbus’ Drive Capital (which led Beam’s $5M Series A in 2014), this significant increase underscores the company’s value proposition.
As part of the financing, Lewis & Clark Ventures Principal Ron Watson will join the Board of Directors of Beam.
“It’s rare to see a real disruptor in the benefits of space, but Beam is just that,” Watson said. “We are pleased to add Beam to our portfolio and see the smart, scalable approach of the company to benefits as a demonstration of its continued power. “That’s right.
Beam Dental is a dental benefit company that offers employers of all sizes a fundamentally unique approach to dental insurance coverage by incorporating dental hygiene behavior into policy pricing. The more a member is engaged in day-to-day dental hygiene, the better the group premium discount on policy renewal. Beam’s dental insurance policies include Perks, a quarterly electric toothbrush subscription service, replacement heads, paste, and floss for each insured member.
Alex Frommeyer, Co-Founder and CEO of Beam, said, “We’re incredibly excited to partner with Ron and the Lewis & Clark team. Beam solves a huge problem, offering affordable dental care to 100 million Americans who do not currently have coverage, and having two high-quality, Midwest-focused investors in Lewis & Clark and Drive Capital, shows the alignment of our values and objectives. “That’s right.
The capital will be used to fuel expansion to new markets and allow Beam to continue providing world-class support and service to its members.
Beam also recently announced its partnership with VSP to deliver a vision insurance solution to the market. The company currently markets its dental and vision insurance products in California, Texas, Illinois, Arizona, Ohio, Colorado, Washington, Utah, Wisconsin, and Kentucky, although Beam’s dental network is nationwide.
Learn more about how Beam re-imagines dental and vision care by visiting www. Beam The Beam Dentist
Lewis and Clark Ventures
Lewis & Clark Ventures, St. Louis-based venture capital firm focusing on high potential investment opportunities across the Midwest Region
The Fund’s mission is to deploy growth capital in the A/B series to companies operating in sectors such as agtech, digital healthcare and software, serving markets such as financial, agricultural, healthcare and business enterprise solutions.
About Capital Drive
Drive Capital is investing in innovative technology, healthcare and consumer companies in the Midwest. We are looking for innovative entrepreneurs addressing major market opportunities Our goal is to partner with entrepreneurs who have bold objectives and strive to build large sustainable companies.
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