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Beam Dental Secures $55 Million Financing Round Led by Georgian Partners

May 29, 2019

Beam Dental Secures $55 Million Financing Round Led by Georgian Partners

COLUMBUS, Ohio, (May 29, 2019) — Beam Dental, the country’s fastest-growing dental benefits provider, today announced it has raised $55 million in Series D funding led by Georgian Partners. The round also features participation from existing investor Drive Capital.

“Beam’s focus on delivering a market leading customer experience and their innovative use of technology and data is unique in the industry.” said Tyson Baber, Partner, Georgian Partners “We’re thrilled to be partnering with Beam as they continue to innovate and accelerate their growth in the dental insurance market.”

Beam Dental was founded in 2012 by three engineers who saw a need to close the gap for the 100 million Americans without dental insurance. They saw that by creating an end-to-end digital experience for dental insurance, they could use data to provide individualized quotes to medium employers who were overlooked by incumbents. Beam streamlines and automates lengthy, manual processes such as providing quotes, quotes, enrollment, and claims.

Beam’s core philosophy is that better preventive dental care results in fewer costly interventions over time. This is enabled by Beam Perks, a semi-annual subscription service included for all Beam members that consists of a connected toothbrush – the Beam Brush, paste, floss and refill heads. The Beam Brush aggregates brushing engagement data which is used for premium discounting at the employer’s renewal.

Beam already offers its dental plans alongside vision insurance in partnership with VSP in 27 states and expects to be able to reach more than 90% of the US population by the end of 2019.

“At Beam, we believe that we offer the best experience for employers and their dental care needs,” said Alex Frommeyer, CEO, Beam Dental. “We’re excited to join the Georgian portfolio, which will be integral to us delivering on our mission and continuing our trajectory.”

Beam will use the funding to further accelerate its market expansion and to develop new product offerings. Beam Dental and Georgian Partners are both investing deeply in machine learning and conversational AI and believe that trust, data security and privacy are crucial to long-term success. The funding brings Beam Dental’s total equity raised to $80M.

About Georgian partners

Georgian Partners is a thesis-driven growth equity firm investing in business software companies leveraging artificial intelligence, trust and conversational AI. Founded by successful entrepreneurs and technology executives, Georgian Partners leverages its global software expertise to directly impact the success of companies. For more information, visit https://georgian.io/.

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Thanks for your interest in Beam. If you're a member of the news media with an inquiry, please contact media@beam.dental for more information.

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Dental and vision insurance products underwritten by National Guardian Life Insurance Company (NGL), Madison, WI, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA). Dental policy form number NDNGRP 2020. Dental and vision products underwritten by Nationwide Life Insurance Company, Columbus, OH in NY, DE, ID, LA, UT, OH, TX and NM. Dental and vision products administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC, in Texas). Vision insurance products underwritten by Vision Service Plan (VSP) in WA. Vision insurance products administered by Vision Service Plan Insurance Company. Vision Policy form number NVIGRP 2020. Life insurance product is underwritten by Nationwide Life Insurance Company, Columbus, OH, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA) and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC in Texas). Group Short-Term Disability and Long-Term Disability insurance products are underwritten by Nationwide Life Insurance Company, Columbus, OH, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA) and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC in Texas). Life, Short-Term Disability, and Long-Term Disability products are not available to members living in Puerto Rico and product availability may vary by state. Program restrictions and exclusions apply. Accident, Hospital only Indemnity, and Critical Illness (effective 5/1/23) insurance products are underwritten by Nationwide Life Insurance Company, Columbus, OH, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA) and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC in Texas). Products not available in all states.

National Guardian Life Insurance Company, Madison, WI, is not affiliated with The Guardian Life Insurance Company of America, a.k.a. The Guardian, or Guardian Life.

Nationwide and Beam Insurance Services LLC are separate and a non-affiliated companies.

National Guardian Life Insurance Company, Two East Gilman, Madison, Wisconsin 53703

Nationwide Life Insurance Company, One Nationwide Plaza, Columbus, OH 43215

Vision Service Plan Insurance Company, 3333 Quality Drive Rancho Cordova, CA 95670

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DHMO dental product available in CA, underwritten and administered by California Dental Network, marketed by Beam Insurance Services LLC. Beam Perks™ and Beam Perks rewards program not available for DHMO product members.

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Beam Perks™ is provided by Beam Perks LLC. Eligible members age 4 and up at the time of enrollment are eligible to receive Beam Perks™ and must select their Beam Brush color within 45 days of enrollment to participate. If you do not have a mobile device you can obtain Beam Perks™ by contacting Customer Operations at 1.800.648.1179. Beam Perks™ can be obtained separately without the purchase of an insurance product by visiting perks.beam.dental. Beam Perks™ may be changed at anytime without notice and is subject to availability. See https://www.beambenefits.com/legal/beam-perks-terms-and-conditions for Terms and Conditions.

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Beam Perks™ is a voluntary program. The information provided under this program is for general informational purposes only and is not intended to be nor should be construed as medical advice. You should consult with an appropriate health care professional to determine what may be right for you. Rewards may be taxable. You should consult with an appropriate tax professional to determine if you have any tax obligations from receiving rewards under this program. If any fraudulent activity is detected (e.g., misrepresented brushing activity), you may be suspended and/or terminated from the program. If you are unable to meet a standard related to health factor to receive a reward under this program, you might qualify for an opportunity to receive the reward by different means. Contact us at 1 (800) 648-1179 and we will work with you (and, if necessary, your doctor) to find another way for you to earn the same reward. Availability and rewards may be limited due to incentive limits under applicable law. See https://www.beambenefits.com/legal/beam-perks-terms-and-conditions for full program Terms and Conditions.

There is no discount associated with the bundling of products.

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Please see plan documents for services that are considered Preventive and Diagnostic.

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Pricing customization may vary based on plan and state specific limitations.

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