Automated dental insurance provider raises $22.5 million Series C funding

Company to utilize funds to "expand its data-driven technology platform nationwide"

Automated dental insurance provider raises $22.5 million Series C funding

Life & Health

By Lyle Adriano

Beam Dental, a dental insurance provider for small and medium-sized businesses, has revealed that it has secured $22.5 million in Series C funding.

A release outlined that an investment round was led by Silicon Valley-based venture capital company Kleiner Perkins. Following the financing round, Kleiner Perkins’ Lucas Swisher will join Beam’s board of directors.

Founded in 2012 by Alex Frommeyer, Alex Curry, and Dan Dykes, Beam aims to rebuild the dental insurance model with a “customer-first focus.” The company’s proprietary platform allows it to easily take in and segment a business client’s data to assess underwriting risk and price premiums more efficiently – Beam accomplishes this by automating critical pieces of policy administration.

Beam also offers unique perks to members, such as the sonic-powered Beam Brush.

“There has been little innovation in dental insurance in many years, resulting in a commoditized market,” said Beam Dental CEO Alex Frommeyer. “We’re excited to partner with Kleiner Perkins to change the expectations of SMBs all over the country when it comes to accessing affordable dental care with best in class service and support.”

“Beam’s customer-centric focus at all stages of the value chain - from broker to business to member - is what initially attracted us to the business,” commented Swisher. “They’ve also optimized their cost structure in a unique way using software to automate key parts of the administrative stack. This combination is powerful, enabling Beam to find the right customers and offer them a better experience, often at a lower price.”



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