The strategic investment will help drive Bennie’s continued fast-paced growth, the expansion of Bennie’s employee-facing technology, and strategic M&A.

Bennie, the modern employee benefits firm dedicated to transforming the way employers approach and deliver benefits, today announced it has closed a $50 million strategic investment from LNC Partners, a private equity firm that specializes in supporting the growth of middle market businesses.

Bennie services medium to large businesses across the US, offering an array of solutions through different fundings, insurance carriers and administrators, and many HR Technology and wellness solutions. Bennie is among the fastest-growing firms in its peer set and is now a top 100 employee benefits broker – showing strong momentum with no signs of slowing. The new capital will accelerate Bennie’s growth through three key channels:

• Fueling organic growth by expanding its sales and consulting operations
• Further enhancing its revolutionary employee and employer-facing technology
• Executing a strategic M&A initiative to acquire high-performing owner-operated brokerages whose owners are approaching retirement and seeking a superior partner to support their customers long term.

“I am excited to announce our partnership with LNC as we embark on the next phase of Bennie’s growth,” said Brett Davis, CEO of Bennie. “LNC’s team possesses deep, relevant expertise in scaling brokers and technology platforms, having successfully implemented the very strategies that we plan to leverage for expansion. This strategic infusion of capital provides the fuel needed to accelerate Bennie’s reach to a wider audience, ensuring more employers and their employees benefit from a modern employee benefits platform.”

LNC expressed strong conviction in Bennie’s market position and trajectory.

“We are thrilled to partner with Bennie,” says Matt Kelty, Managing Partner at LNC. “They combine expert consultation and high-touch support of a top 100 employee benefits broker with a seamless, user-friendly technology platform that saves HR teams and their employees time and money. We look forward to supporting their mission to make benefits holistic and accessible for employees everywhere. They have only just scratched the surface of the number of companies they can help.”

Bennie was founded to disrupt the traditional “static” broker model, which has relied on opaque pricing, reactive service, and outdated systems. Unlike legacy firms, Bennie’s model actually aligns incentives with their customers’ best interests and delivers a proven ROI through the Bennie App for employees, Bennie Insights and Marketplace for HR and Finance teams.

This comprehensive approach has saved customers and their 100,000+ employees tens of thousands of administrative hours, millions of dollars, and earned Bennie an industry-leading +75 NPS.

“This has been a tough year with high insurance renewals,” says Davis. “While our teams are experts at aggressively negotiating costs, as insurance costs climb, companies should demand more from their broker. They must leverage the most comprehensive resources for HR, Finance and employees.”

About Bennie

Bennie is a benefits broker that provides a modern, cost-effective approach to employee benefits with its user-friendly app and world-class consulting services. As a licensed broker in all 50 states, Bennie offers dedicated benefits support and personalized benefits programs to hundreds of growing organizations across the nation.

The Bennie App, available on both mobile and desktop devices, is a go-to resource for employees to easily find and understand their benefits information. From viewing ID cards to finding in-network providers to connecting with the Ask Bennie healthcare concierge, employees have their benefits information and tools they need. HR teams also get access to Bennie Insights, an exclusive feature that offers a deeper look into how employees engage with their benefits, Bennie, and the Bennie App. Visit Bennie to learn more or contact us today.

Bennie also powers HR Advisory, the fast-growing free community exclusively for HR and People Ops professionals. HR Advisory offers HR leaders access to an extensive network of passionate professionals, insightful in-person and virtual events, exclusive career opportunities, valuable content, and other valuable resources.

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