Previously known as Edquity, Beam operates an end-to-end cash assistance administration system that handles applications, ID verification, case decisions and payments for governments. The platform transmits funds through bank accounts, prepaid cards or online services like Zelle to serve communities equitably. Beam says it has helped process over $180 million to about 300,000 households and currently operates in 16 states with 53 governments. The company reported increased demand for its services following the COVID-19 pandemic. CEO David Helene said the company’s intent is to reduce friction and preserve dignity for applicants. Beam plans to use new funding to expand headcount and further develop its platforms.

Total raised

$6M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2022