Beam, a New York-based provider of an end-to-end platform that streamlines equitable public benefit administration, raised $6.4M in Series A funding.
The round was 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.
The company intends to use the funds to expand its growth list of government partners and build out its technology team to develop tools that help local agencies get critical resources to communities quickly and equitably.
Led by CEO David Helene, Beam provides a platform that 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.
Beam now provides digital infrastructure for 53 governments, higher education institutions, nonprofits, and philanthropic partners across 16 states and the District of Columbia.