Bento raised $8.1 million in funding from several investors to improve its app and expand a nationwide sales effort.
Dental insurance startup Bento raised $8.1 million in Series-A funding led by Boston-based Schooner Capital with additional participation from York IE Capital and existing investor Companyon Ventures.
Bento provides a technology-powered platform that connects consumers, employers and associations with dentists and dental service organizations, to deliver oral benefits without the need for complex traditional insurance processes and overhead.
Bento will use the capital to advance its app and expand a nationwide sales effort, to offer patients oral health care with full transparency in pricing.
The Bento dental benefits solution is 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,” said Ram Sudireddy, founder and chief executive officer of Bento. “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.”
The AI-powered Bento platform is currently utilized by about 100,000 dentists in the country and has 360,000 access points nationwide.
The company has received wide recognition across the dental industry earning endorsements from the ADA, Florida Dental Association, Georgia Dental Association, Tennessee Dental Association, and Texas Dental Association.
“It’s quite clear that the traditional dental insurance industry is mired in inefficiency and the time is ripe for change and transformation,” said Orhan Gazelle associate principal at Schooner Capital. “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 Bento has the vision and proven leadership to reimagine oral health care benefits and brings welcome change to an outdated industry, which drove our decision to invest.”