Want to have a chat?

Complete this form and a Beam rep will be in touch within 2 business days.

Products interested in
Thank you!
Your submission has been received!
Oops! Something went wrong while submitting the form.
plus icon
left arrow
Back to Press

Beam Raises $22.5 Million Series C Led by Kleiner Perkins

June 12, 2018

Beam Raises $22.5 Million Series C Led by Kleiner Perkins

COLUMBUS, Ohio, (June 12, 2018) — Beam Dental, a dental insurance company for small and medium-sized businesses, today announced it has raised $22.5 million in Series C funding led by Kleiner Perkins. The company will use the funds to expand its data-driven technology platform beyond the three states in which it currently operates (Ohio, Texas, and California). Kleiner Perkins’ Lucas Swisher will join Beam’s board of directors.

Founded by Alex Frommeyer (CEO), Alex Curry (COO), and Dan Dykes (CTO) in 2012, Beam is transforming the $78 billion dental insurance market by providing a better experience for its ecosystem: insurance brokers, businesses, and members. Beam has rebuilt the dental insurance model with a customer-first focus. It eliminates headaches for brokers and businesses alike when onboarding customers and managing claims; and provides members with unique dental care perks and a mobile app experience.

“Innovation in health and dental insurance has been virtually non-existent and has not prioritized the needs of the customer first,” said Alex Frommeyer, CEO, Beam Dental. “We’re excited to partner with Kleiner Perkins to change how nearly 100 million Americans who don't have coverage today access affordable dental care.”

Beam’s technology enables it to gather real-time, segmented customer data to assess risk and price premiums better than its competitors, leading to lower loss ratios. The company has automated critical pieces of the operations stack — from enrollment to premium assessments to claims processing and ongoing member management — to improve the speed and efficiency of its customer service.

Additionally, Beam has reinvented the member experience to differentiate itself from the competition. The company offers members unique perks to better connect with their dental plans. With the Beam® brush, a Sonic powered, smart, electric toothbrush, the company helps consumers lower their premiums the better they brush. Beam has also expanded its offerings in response to customer demand. The company recently recently announced a partnership with VSP VisionCare to offer high-quality vision plans as a bundle with its core dental insurance product line.

“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. 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,” said Lucas Swisher, Kleiner Perkins.

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 Beam Dental

Beam Dental is a dental benefits company that offers employers a fundamentally unique approach to coverage by incorporating dental hygiene behavior into policy pricing. All of Beam's plans also Beam Perks, a quarterly subscription service with an electric toothbrush, replacements heads, toothpaste, and floss. Beam delivers world class support and service to all members, making easy to find and access dental services with the tap of a finger from a broad, nationwide network of dentists.

About Kleiner Perkins

Kleiner Perkins partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. With $10 billion raised through 20 venture funds and four growth funds, the firm has invested in over 850 companies including pioneers such as Google, App Dynamics, Amazon, Flexus Biosciences, Nest, Waze, Twitter, JD.com and Square. Kleiner Perkins offers entrepreneurs years of operating experience, puts them at the center of an influential network, and accelerates their companies from success to significance. For more information, visit https://www.kleinerperkins.com/.

‍

Media Inquiries

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.

No items found.
**

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 and vision policy form number NVIGRP 2020. Dental and vision products underwritten by Nationwide Life Insurance Company, Columbus, OH in NY, DE, ID, LA, UT, OH, TX and NM. Dental coverage applicable to policy form GDTL AO L20, or state equivalent and vision policy form GVIS AO L20, or state equivalent. 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.  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). Life and AD&D coverage applicable to policy form GLIF AO L20, or state equivalent. 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). STD coverage applicable to policy form NSHDIS 2000, or state equivalent and LTD policy form ICC18 GDIS AO L20, GDIS AO L20, or state equivalent. 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 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). Accident coverage applicable to policy form GCAS AO L20, or state equivalent, Hospital policy form GHOI AO L20, or state equivalent and Critical Illness policy form GCI AO L20, or state equivalent. 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

‍

-

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.

*

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.

#

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.

§

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

##

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

Contact Beam

Start a conversation with Beam.

Thank you!
Your submission has been received!
Oops! Something went wrong while submitting the form.
Already contacted support about this issue? Please include the reference number here
To access your digital insurance card:
  • Log in to your Beam account
  • Click “Plan info”
  • Select your option on the right to print or view your card. You can also request a physical card.
Please use the provider portal for 24/7 access to patient eligibility information. You can also call us at 800-648-1179 and select “1" to use our virtual agent fax back option.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Want to talk over the phone?
Give us a call at 1-800-648-1179.