Beam Benefits has raised $40 million at an increased valuation – contrary to national VC trends – to speed growth and product development for its suite of digitally-powered employee benefits for small and medium businesses.

The Series F increases Beam’s valuation by 25% – although the total was not disclosed – since an $80 million round two and a half years ago, according to a news release. The Columbus insuretech has raised a cumulative $200 million over 12 years.

Beam, which recently started offering disability insurance underwritten by The Hartford, is on track to increase revenue by 40% year-over-year, the release said. The company, which rebranded from Beam Dental in 2022 to reflect broader offerings, launched six benefits products in 18 months.

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