The financing was led by Boston-based Schooner Capital with additional participation from York IE Capital and existing investor Companyon Ventures.
BOSTON, July 26, 2022 /PRNewswire/ — Bento is on a mission to transform the outdated traditional dental insurance industry and expand access to better oral health care for all Americans. Bento provides a technology-powered platform that connects consumers, employers and associations with dentists and dental service organizations, to deliver better oral benefits without the need for complex traditional insurance processes and overhead. Bento is proud to be the only dental benefits solution of its kind to be endorsed by the American Dental Association.
“We are very pleased to announce this new funding and welcome Schooner Capital and York IE as investors alongside Companyon Ventures, bringing the total capital raised to $19 million. This investment is validation of Bento’s mission to democratize care in the light of inequities and disparities today. The need for digital access and transparency has never been greater and Bento is at the forefront of a seismic shift in the way dental benefits are administered and delivered. We are thrilled to be a pioneer for change and technological innovation in the dental benefit industry,” said Ram Sudireddy, Founder and CEO of Bento.
The patented AI-powered Bento platform is currently utilized by approximately 100,000 dentists in the country and has 360,000 access points nationwide. Bento will use the capital to advance its award-winning app and expand a nationwide sales effort, to ensure patients can receive the right oral health care with full transparency in pricing, anytime and anywhere.
“It’s quite clear that the traditional dental insurance industry is mired in inefficiency and the time is ripe for change and transformation. We are thrilled to lead Bento’s Series A round. Bento has the vision and proven leadership to reimagine oral health care benefits and brings welcome change to an outdated industry, which drove our decision to invest,” said Orhan Gazelle from Schooner Capital.
Bento understands the critical importance of oral health to general wellness, and has established the proven ability to deliver a modern, seamless and transparent oral benefit experience with cost savings for everyone involved: employers, patients and dental care providers, addressing a $140 billion market opportunity. Bento delivers a winning platform that offers practical tools that give the main stakeholders in oral care lower costs (30% less than traditional dental insurance) and improved experiences.
Bento is on a mission to provide the transparency, access, flexibility, and clarity Americans deserve with their oral health care. The company has received wide recognition across the dental industry earning endorsements from the American Dental Association, Florida Dental Association, Georgia Dental Association, Tennessee Dental Association, and Texas Dental Association among others. Based in Boston, MA and with offices in Miami, FL, Bento has established a large and rapidly developing number of dental providers in the US with over 360,000 access points nationwide. Bento empowers employers, groups, and dentists around the country to offer better dental solutions to their employees and patients. To learn more about how Bento is improving the dental benefit care experience, visit bento.net.
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SOURCE Bento
