InBrace Raises $102 Mn Series D Funding
The company intends to utilize funds to accelerate growth by expanding its sales force, launching new marketing initiatives, and driving further support and integration with new and existing orthodontic providers across the country
InBrace—the orthodontic company behind the novel Smartwire category of behind-the-teeth, teeth straightening—recently announced the closing of an oversubscribed $102 million Series D financing by funds affiliated with new investor groups co-led by Farallon Capital Management, L.L.C., and Marshall Wace. Additional new investors included funds and accounts managed by BlackRock, Endeavour Vision, MVM Partners, RTW Investments, LP, and Soleus Capital as well as funds affiliated with existing investors Vivo Capital, Novo Ventures, and venBio.
InBrace is one of the fastest-growing companies in the $40 billion orthodontics market, the company claims.
"The Series D funding further validates the ability of InBrace to attract new consumers who previously opted out of orthodontic treatment because they didn't have an option that fit their lifestyle," said John Pham, DDS, MS, chief executive officer, and co-founder, InBrace. "As a company founded by orthodontists, we developed InBrace to help orthodontists elevate the teeth straightening experience. InBrace taps into the recent Zoom culture that has caused a surge of interest among consumers who want to improve their smiles with a more predictable and less disruptive process to their daily lives. InBrace is offering an entirely new option for orthodontists to meet the needs of the 178 million consumers who could benefit from orthodontic treatment but who are currently not walking into their practices."
The company intends to use proceeds of the Series D financing to accelerate growth by expanding its sales force, launching new marketing initiatives, and driving further support and integration with new and existing orthodontic providers across the country.
"We are honored to partner with InBrace to help them achieve their vision in this growing market. We believe the advanced technology InBrace is bringing to market will significantly increase the number of people seeking orthodontic treatment," commented Rob Barmann, partner, Endeavor Vision, who recently joined the InBraceboard of directors as part of the Series D financing.
"We are excited to have this high-quality syndicate of new investors recognize the value of the differentiated solution InBrace has launched in the massive orthodontic market. With this financing, InBrace is well-capitalized to roll out its solution to many more orthodontic providers and continue its mission to address the unmet needs of patients searching for a better alternative to traditional teeth straightening options," added Joe Siletto, InBracechairman of the board and managing director, Vivo Capital.
According to InBrace, in North America alone, approximately 6 million people begin orthodontic treatment every year with traditional teeth straightening options. However, there remains up to 178 million North Americans who could benefit from teeth straightening but haven't started treatment because they want an option that's completely hidden, does not compromise their lifestyle, and provides healthy, fast results with more comfort – conditions that were unmet until InBrace introduced Smartwire. Orthodontists can now tap into the unmet needs of today's busy and aesthetically-minded consumers without compromising clinical predictability and ease-of-use, the company further shared.