Bennie, an employee benefits firm, has secured a $50 million strategic investment from LNC Partners, a private equity firm. The capital infusion is intended to accelerate Bennie’s growth through expanded sales and consulting operations, enhanced employee and employer-facing technology, and a strategic mergers and acquisitions (M&A) initiative.
Bennie, which serves medium to large businesses across the United States, offers solutions that include various funding models, insurance carriers, administrators, and HR technology and wellness solutions. The company reports itself as one of the fastest-growing firms in its peer group and is now recognized among the top 100 employee benefits brokers.
Brett Davis, CEO of Bennie, stated, “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.”
Matt Kelty, Managing Partner at LNC Partners, commented on the investment, saying, “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.”
Bennie was established to challenge traditional broker models, which it describes as having relied on opaque pricing, reactive service, and outdated systems. Its approach aims to align incentives with customer interests, delivering return on investment through its Bennie App for employees and Bennie Insights and Marketplace for HR and finance teams. This comprehensive strategy has reportedly saved customers and their more than 100,000 employees tens of thousands of administrative hours and millions of dollars, earning Bennie an industry-leading Net Promoter Score (NPS) of +75.
Davis added, “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.”
As a licensed broker in all 50 states, Bennie provides dedicated benefits support and personalized programs. The Bennie App offers employees tools for managing benefits, including ID card access, in-network provider search, and connection to the Ask Bennie healthcare concierge. HR teams also utilize Bennie Insights for data on employee benefits engagement and access to HR Advisory, a community for HR and People Operations professionals.
