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        Beam Benefits, a digitally native employee benefits company, has secured USD 40 million in growth capital from Trinity Capital Inc. (Nasdaq: TRIN), a provider of financial solutions to growth-oriented companies. This brings the total funds raised by the company to USD 208 million.
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        The funding will be used to scale operations and fund growth initiatives, enabling Beam to continue modernizing employee benefits by building tools for brokers and partner benefits providers across the US.
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        Beam Benefits offers dental, vision, life, disability, and supplemental health coverage for employers of all sizes. As of October 2024, the company&rsquo;s platform is available in 44 states across the US.
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    <a href="https://www.prnewswire.com/news-releases/trinity-capital-inc-provides-40-million-in-growth-capital-to-beam-benefits-302272091.html">
      Press release
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Health Benefits Platforms

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 <p>Beam Benefits, a digital employee benefits company, has raised USD 40 million in growth capital from Trinity Capital Inc., a financial solutions provider. This has increased Beam's total funding to USD 208 million.</p>
 <p>The capital will be used to scale operations and promote growth initiatives. This will support Beam's endeavour to modernize employee benefits by creating tools for brokers and partners benefits providers throughout the US.</p>
 <p>Beam Benefits provides dental, vision, life, disability, and supplemental health coverage for employers of all sizes. As of October 2024, the company's platform is available in 44 US states.</p>
 
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Beam Benefits raises USD 40 million in growth capital from Trinity Capital

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<p>JOYA, an employee skin health and wellness benefits provider, successfully secured USD 5 million in seed funding. Notable contributors in this round included LUX Capital, Mosaic General Partnership, Arsama Trust, and Joyance Partners.</p>

<p>The new funds will be put towards a variety of growth initiatives including team expansion, product development, market penetration, as well as improving access to service providers.</p>

<p>The company's platform is designed to give employees personalized services such as skin cancer screenings, treatments for various skin conditions, anti-aging treatments, acne and hair loss solutions. All these services are offered through affordable providers to maximize the benefits to users.</p>

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JOYA raises USD 5 million in seed funding to support team expansion

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 <p>GoodRx, a prescription savings platform, has collaborated with ARS Pharmaceuticals to offer the lowest discounted cash price for neffy, a new, needle-free epinephrine nasal spray for type I allergic reactions.</p>
 <p>The partnership will allow neffy to be sold for USD 199 for a pack of two single-use devices at over 70,000 pharmacies across the U.S. exclusively through GoodRx. This initiative aims to boost access and affordability to anaphylaxis treatments, providing a needle-free alternative to traditional auto-injectors for numerous Americans, including children and adults who regularly need to keep epinephrine on hand.</p>
 <p>neffy is a breakthrough in the field as it is the first needle-free treatment for type I allergic reactions, including anaphylaxis, to be approved by the FDA for adults and children weighing 30 kg (66 lbs) or more. This partnership aligns with GoodRx's mission to make essential medications accessible and affordable for all, while encouraging healthcare innovation.</p>

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GoodRx partners with ARS Pharmaceuticals to offer discounted neffy nasal spray for allergic reactions

ANALYST_QUICK_TAKE

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 <p>Healthcare firm Centivo has garnered 75 million dollars in a combined equity and debt financing round. New strategic investors Cone Health Ventures and MemorialCare Innovation Fund have participated in the round, along with previous investors such as Morgan Health, Ingleside Investors, F-Prime Capital Partners, B Capital, and Cox Enterprises. This funding round brings the organization's total funding to 226 million dollars.</p>
 <p>The funding will be put towards bolstering and expanding Centivo's product portfolio and technology, building crucial partnerships with healthcare systems, and broadening its operational reach. The company's goal is to enhance financial savings and patient outcomes while decreasing annual employee out-of-pocket expenses by approximately 1,200 dollars.</p>

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 <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/29596"> May 2024 </a> , the company acquired Eden Health, a New York-based primary care provider, to scale up its healthcare plans centered around primary care. Post-acquisition, Centivo Centivo brought the total number of employers it served across the US to over 160. This fundraiser will help the company expand its market reach beyond this.</p>

Centivo raises USD 75 million in equity and debt financing to expand healthcare model

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 <p>Healthcare tech firm, HealthLynked, has collaborated with Lyric Health, a provider of virtual care, to enhance telehealth services nationwide. This partnership will enable HealthLynked to provide an extensive range of virtual care services such as 24/7 urgent care, primary care, mental health, dermatology, specialty referrals, and pet care. </p>
 <p>The newly introduced Virtual Urgent Care service will offer patients a convenient way to access non-emergency medical care by connecting them with licensed physicians within an average of 20 minutes. </p>
 <p>HealthLynked's collaboration with Lyric Health offers additional features such as care navigation, a prescription voucher program and medical record storage. The service, available on the HealthLynked app, will offer flexible pricing options such as a standard rate of USD 70 per visit or a subscription model for discounted rates.</p>
 
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HealthLynked partners with Lyric Health to expand telehealth services nationwide

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 <p>HR tech firm Become.1 has secured EUR 3.3 million (USD 3.7 million) in a seed funding round. Investors included D11Z.Ventures, Haufe Group Ventures, MBG Baden-Württemberg, High-Tech Gründerfonds (HTGF), and business angels Matthias Allmendinger, Sebastian Koch, and Maru Winnacker.</p>
 <p>The funds will be utilized to enhance their comprehensive platform for employee benefits.</p>
 <p>The software by Become.1 is designed to decrease administrative load for employers and increase flexibility for employees in managing benefits. The platform caters to German businesses and their employees across various European countries such as Austria, Switzerland, the Netherlands, Spain, the UK, and Luxembourg.</p>
 
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Become.1 raises EUR 3.3 million in seed funding to expand employee benefits platform

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 <p>A health navigation tech company, Amino Health, and Motive Practicing Wisely, a firm focusing on physician performance measurement, have formed a partnership to initiate Amino Motivate, a solution for ACO optimization. </p>
 <p>The solution, Amino Motivate, fuses data-fueled physician performance analytics and consulting services to pinpoint areas in need of improvement, fine-tune resource allocation, and boost the quality of patient care. The platform provides in-depth performance analytics, insightful information, and tailored advice to assist ACOs in diminishing costs, augmenting patient outcomes, and enhancing engagement by blending existing health solutions into one unified platform.</p>
 <p>The objective of this partnership is to equip ACOs with the necessary tools to track physician performance, align health care delivery with proven standards, and make informed judgments related to resource distribution and care plans. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/29690"> May 2024 </a> , Amino Health raised USD 10 million in a funding round led by Transformation Capital. At the time, the company noted that it planned to use the funds to improve its AI product to create more personalized patient care paths. The launch of Amino Motivate also helps to further this goal with its functional ability to identify areas for improvement, optimize resource allocation, and enhance patient care quality.</p>

Amino Health and Motive Practicing Wisely partner to launch an ACO optimization solution

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 <p>XP Health, a vision care platform, has raised a total of USD 55.3 million funds with its latest Series B funding round fetching USD 33.2 million. The round was led by QED Investors with participation from Canvas Ventures, American Family Ventures, HC9 Ventures, Valor Capital Group, and Manchester Story.</p>
 <p>The raised funds will likely be used for further advancing and expanding XP Health's AI-driven platform. This platform provides employee eye exams and eyewear benefits at a cost lower than traditional vision insurance plans.</p>
 <p>XP Health has managed to increase its business customer base to over 3,000 in the last two years from an original 30. Customers include companies such as DocuSign, Navistar, Chegg, and Sequoia Consulting. According to XP Health, its members can make savings of as much as 69% off retail prices when purchasing eyeglasses virtually via its platform.</p>
 
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XP Health raises USD 33.2 million in Series B funding to expand vision care platform

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 <p>Thatch, a personalized health benefits platform, successfully raised USD 38 million in a Series A funding round. The round was led by Index Ventures and General Catalyst, and also saw participation from SemperVirens and The General Partnership, as well as existing investors Andreessen Horowitz and Avid Ventures. This investment brings Thatch's total funding to USD 44 million.</p>
 <p>These new funds will be utilized to enlarge Thatch's team, escalate their technology platform, and quicken their customer acquisition process.</p>
 <p>Thatch operates as a comprehensive platform that streamlines offering personalized healthcare benefits to employees via an Individual Coverage Health Reimbursement Arrangement (ICHRA). Here, employers establish a budget, thereafter, employees have the authority to choose their preferred health insurance plans and use a Thatch Visa debit card to pay for other healthcare expenditures including prescriptions and copays.</p>
 
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Thatch raises USD 38 million in Series A funding to expand platform

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 <p>HealthEquity, a Health Savings Account (HSA) custodian, has entered into a partnership with Paytient, a firm specializing in healthcare technology. This alliance aims to offer Health Payment Accounts (HPAs) to employees. HPAs provide workers with the ability to spread the cost of healthcare copayments for a range of medical services, including dental, vision, and pet care, over a certain period.</p>
 <p>This partnership is designed to increase essential care access by removing the need for credit checks and decreasing the financial pressure on employees. The collaboration is anticipated to benefit both employees, by improving their confidence in seeking healthcare, and employers, who could see a potential reduction in high-cost claims due to enhanced access to preventative care.</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 In <a href="https:<br>
//sp-edge.com/updates/29198"> May 2024 </a> , Patient appointed Joe Gabler as its chief growth officer (CGO). Gabler's responsibilities included expanding Paytient's strategic partnerships with leading employers, payers, and pharmacy benefit managers (PBMs) and driving the company's overall growth. The partnership with HealthEquity can be seen as a strategic move toward meeting these goals.</p>

All Updates

Beam Benefits raises USD 40 million in growth capital from Trinity Capital

JOYA raises USD 5 million in seed funding to support team expansion

GoodRx partners with ARS Pharmaceuticals to offer discounted neffy nasal spray for allergic reactions

Centivo raises USD 75 million in equity and debt financing to expand healthcare model

HealthLynked partners with Lyric Health to expand telehealth services nationwide

Become.1 raises EUR 3.3 million in seed funding to expand employee benefits platform

Amino Health and Motive Practicing Wisely partner to launch an ACO optimization solution

XP Health raises USD 33.2 million in Series B funding to expand vision care platform

Thatch raises USD 38 million in Series A funding to expand platform

HealthEquity partners with Paytient to offer Health Payment Accounts for employees

Health Benefits Platforms

Beam Benefits raises USD 40 million in growth capital from Trinity Capital

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