Scott-Bernstein-Kauffman Fellows

Lewis & Clark invests in $5.5 million startup deal

Lewis & Clark Ventures, the St. Louis venture capital firm with several local portfolio companies, has participated in a $5.5 million Series B financing for Ohio-based Beam Dental, which provides dental benefits for small- and medium-sized businesses.

Drive Capital, a venture firm from Columbus, Ohio, that has expressed interest in investing in St. Louis companies, was also part of the deal.

The money, according to a release, will be used to expand into new markets. The company already markets its products in California, Texas, Illinois, Arizona, Ohio, Colorado, Washington, Utah, Wisconsin and Kentucky.

As part of the deal, Lewis & Clark Principal Ron Watson joined Beam’s board of directors.

Read more, here.