Modern employee benefits firm Bennie has secured a $50 million strategic investment from private equity firm LNC Partners. The capital infusion is designed to accelerate the growth of Bennie's platform, which combines consulting services with proprietary technology to modernize benefits administration for medium-to-large businesses.
Quick Intel
Bennie closes a $50 million strategic growth investment from private equity firm LNC Partners.
The capital will fuel expansion in three areas: organic sales growth, technology enhancement, and strategic acquisitions.
Bennie is a top 100 employee benefits broker known for combining expert consulting with a user-friendly technology platform.
The firm's model aims to disrupt traditional brokerage with transparent pricing, proactive service, and aligned incentives.
Its platform, including the Bennie App for employees and Bennie Insights for HR, has earned a +75 Net Promoter Score.
Bennie will target acquisitions of owner-operated brokerages whose principals are seeking succession partners.
The $50 million investment from LNC Partners will propel Bennie's ambitious growth strategy across three key channels. Primarily, it will fuel organic expansion by scaling the company's sales and consulting operations to reach more employers. Secondly, capital is earmarked for further development of Bennie's proprietary employer and employee-facing technology. Finally, Bennie will execute a strategic mergers and acquisitions initiative, focusing on acquiring high-performing, owner-operated brokerages whose owners are approaching retirement and seeking a long-term partner for their clients.
Bennie was founded to challenge the traditional, static broker model, which it characterizes as reliant on opaque pricing, reactive service, and outdated systems. In contrast, Bennie's approach aligns its incentives with client outcomes, delivering a demonstrated return on investment through its dual technology platforms: the Bennie App for employees and Bennie Insights and Marketplace for HR and finance teams. This comprehensive model has reportedly saved clients tens of thousands of administrative hours and millions of dollars, contributing to an industry-leading Net Promoter Score of +75.
The partnership reflects strong mutual conviction in Bennie's market position and future trajectory. "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," said Brett Davis, CEO of Bennie. LNC Managing Partner Matt Kelty highlighted the unique combination Bennie offers: "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."
With this new capital, Bennie is positioned to significantly expand its reach and impact in the employee benefits sector. The investment validates its model of integrating high-touch consultancy with transformative technology to create a more holistic, accessible, and cost-effective benefits experience for employers and their workforces.
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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