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Beam Announces $6.4M Series A To Create The Next Generation Of The Social Safety Net

Beam Announces $6.4M Series A To Create The Next Generation Of The Social Safety Net

11/17/22, 11:14 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgcolumbus
Money raised
$6.4 million
Round Type
series a
Investors
Lumina Impact Ventures, Spring Point Partners, Potencia Ventures
Beam – the end-to-end platform that streamlines equitable public benefit administration, formerly known as Edquity – today announced its $6.4 million Series A led by Potencia Ventures, with participation from Spring Point Partners, American Family Insurance Institute for Corporate and Social Impact, Imaginable Futures, Lumina Impact Ventures, Michelson Runway, and Schmidt Futures. Beam's platform helps governments administer a wide range of programs, from rental relief and public utility benefits to emergency cash assistance, with software that streamlines applications, aids decisioning and processing, facilitates payments, and streamlines compliance, reporting, and case management in a single system. Since the COVID-19 pandemic hit in 2020, Beam has administered over $180 million to roughly 300,000 households across the United States.

Company Info

Company
Beam Benefits
Location
columbus, mississippi, united states
Additional Info
Beam Benefits is a digitally-led employee benefits company that offers dental, vision, life, disability, and supplemental health coverage. The company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-powered underwriting, and thoughtful coverage for improved overall wellness. Its Beam Perks program offers incentives to members and rewards them for healthy behaviors. Beam has raised over $200 million in funding and is available in 44 states across the U.S. Learn more at beambenefits.com

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