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About Beam
Industries
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$295.7M
Headquarters
Columbus, Ohio
Founded
2012
Overview
Beam Dental provides dental insurance to individuals and businesses across the United States by offering customizable policies that cover only the benefits listed in each plan. Customers pay premiums for the specific services they need, which can make coverage more affordable compared with comprehensive plans. The product lineup includes options like a DHMO in California, underwritten and administered by the California Dental Network, with other products available in different states. Beam partners with multiple insurance carriers (for example, National Guardian Life Insurance Company and Nationwide Life Insurance Company) to issue and administer policies. Revenue comes from premium collections, and the company also runs a rewards program called Beam Perks (not available to DHMO members). Beam’s goal is to provide flexible, affordable dental coverage to individuals and employers by leveraging insurer partnerships and state-specific products to meet varying needs across the U.S.
Simplify's Take
What believers are saying
- $40M funding in September 2023 from Trinity Capital boosts valuation 25% and expansion runway.
- Partnerships with Nationwide and The Hartford since 2023 broaden underwriting and geographic reach.
- Integration with EaseConnect+ captures SMB enrollment via connected benefits marketplace.
What critics are saying
- Tolithia Kornweibel's CEO transition on October 31, 2024, disrupts execution and relationships.
- 4% workforce cut in past six months erodes talent amid platform scaling demands.
- VC funding over $248M without profitability triggers cash burn crisis by 2028.
What makes Beam unique
- Beam offers fully customizable PPO dental plans covering preventive care at 100% without waiting periods.
- Digital platform simplifies employee benefits including dental, vision, life, and disability for SMBs.
- Beam Perks rewards program boosts member engagement excluding only DHMO product members.
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Funding
Total Funding
$295.7M
Meets
Industry Average
Funded Over
10 Rounds
Kleiner PerkinsBenefits
Medical, dental, vision, disability, & life insurance
401k options
Unlimited PTO
Remote work
Flexible hours
Parental leave
Desk stipend
Continuous learning stipend
Company social events
Growth & Insights and Company News
6 month growth
↓ -3%1 year growth
↓ -2%2 year growth
↓ -4%Beam Technologies has filed a notice with the U.S. SEC for an exempt offering to raise up to $24 million in new funding. This filing is required under federal securities law for companies selling securities without registration under specific exemptions. The notice must be filed within 15 days of the first sale. Beam Technologies focuses on modernizing employee benefits through a digital platform.
Beam Benefits, based in Columbus, raised $17.5 million as part of a $24 million equity offering, per an SEC Form D filing. Founded in 2012, Beam has secured over $248 million from investors like Drive Capital and Kleiner Perkins. In 2023, Beam expanded its insurance offerings with Nationwide and The Hartford. CEO Tolithia Kornweibel will take over on October 31, 2024, from co-founder Alex Frommeyer, who remains on the board. Beam's workforce has decreased by 4% in the past six months.
And Scholarship America, the nation's largest designer and administrator of scholarship programs, is proud to be partnering with Beam to expand the reach, impact and accessibility of emergency aid for students in need.
Trinity Capital invests $40M in Beam Benefits, fueling growth in digital employee benefits. Learn how this funding will transform small business access to comprehensive coverage options.
The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.
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About Beam
Industries
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$295.7M
Headquarters
Columbus, Ohio
Founded
2012
There are no jobs for Beam right now.
Find jobs on Simplify and start your career today