Trinity Capital – a leading provider of diversified financial solutions to growth-oriented companies – announced the commitment of $40 million in growth capital to Beam Benefits, a digitally native employee benefits company.
Launched in 2012, Beam began by modernizing dental benefits. Since then, It has become a one-stop shop for ancillary benefits, offering dental, vision, life, disability, and supplemental health coverage. Beam delivers employee benefits plans on one simple platform. This growth capital will enable Beam to continue scaling operations and funding growth initiatives.
Beam Benefits is a digitally-led employee benefits company that provides dental, vision, life, disability, and supplemental health coverage. And the company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-based underwriting, and thoughtful coverage for improved overall wellness. The Beam Perks program offers incentives to members and rewards them for healthy behaviors. And Beam has raised over $200 million in funding and is available in 44 states across the U.S.
KEY QUOTES:
“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
