Bennie, a modern employee benefits firm transforming how employers design and deliver benefits, announced a $50 million strategic investment from LNC Partners, a private equity firm focused on accelerating the growth of middle-market businesses. Bennie supports medium to large organizations across the US with a wide range of benefit funding models, insurance carriers, administrators, HR tech solutions, and wellness offerings. As one of the fastest-growing firms in its category and now a top-100 benefits broker, Bennie will use the new capital to expand sales and consulting teams, enhance its employee- and employer-facing technology, and advance a strategic M&A program targeting high-performing owner-operated brokerages approaching succession.
“I am excited to announce our partnership with LNC as we embark on the next phase of Bennie’s growth,” said Brett Davis, CEO of Bennie. “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.”
LNC highlighted confidence in Bennie’s position and momentum. “We are thrilled to partner with Bennie,” says Matt Kelty, Managing Partner at LNC. “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. They have only just scratched the surface of the number of companies they can help.”
Bennie’s model breaks from the traditional “static” broker approach by replacing opaque pricing and reactive service with aligned incentives and measurable ROI delivered through its integrated platform. The Bennie App centralizes employee benefits experiences and includes "Ask Bennie,” a healthcare concierge that resolves claims and maintains a 95% satisfaction rating. Bennie Insights provides employers with analytics and benchmarking to manage healthcare trends and secure better renewals, while Bennie Marketplace streamlines procurement of point solutions that reduce overall plan costs. This ecosystem has saved customers and more than 100,000 members significant administrative time and millions of dollars, contributing to Bennie’s +75 NPS.
“This has been a tough year with high insurance renewals,” says Davis. “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.”
By staying committed to elevated service and a modern benefits experience, Bennie delivers the tools employers need to achieve stronger returns on their benefits investment.