Orthodontics can be the most effective route to a better smile. But few people smile at the idea of visiting the orthodontist.
The most common treatment, braces, are notoriously uncomfortable. Related consultations and follow-up visits require plenty of time and money. And desired results are not guaranteed.
So it’s no surprise that startups are focused on improving the orthodontic experience by raising considerable amounts of venture capital. The most recent recipient, LightForce Orthodonticsmaker of personalized 3D-printed braces, today announced an $80 million Series D round led by Ally Bridge Group.
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The round brings total funding to date for Burlington, Mass.-based LightForce to more than $150 million. Founded in 2015, the company is on a mission to “change the world of stock brackets,” according to its CEO and founder Alfred Griffin III.
Where does the money go to orthodontics?
LightForce is one of several orthodontic-focused companies that have been funded in recent quarters. Using Crunchbase datawe’ve compiled a sample list of 12 venture and private equity-backed companies that have collectively raised over $1.4 billion:
With the exception of Smile doctors, a national network of orthodontic practices that raised $550 million in private equity funding in July, most companies are focusing on digital technology. In general, they work on software-enabled technologies that can help reduce in-person visits and provide more personalized treatments.
Certainty LightForce falls into this category. Along with its latest funding, the company is building a 36,000-square-foot manufacturing facility to 3D print custom props for its mostly teenage customer base. Griffin said his custom braces allow for both reduced overall treatment time and fewer orthodontist visits.
Another heavily funded company in the space, based in Paris Dental Monitoring, has raised more than $230 million to date for its software-focused approach. The company uses artificial intelligence to help practices analyze dental images, including those taken from smartphones.
Impress, based in Barcelona, has also raised significant funding. The company, which closed on a $125 million round last year, offers clear aligners and orthodontic services, with a combination of app check-ins and in-person clinic visits.
Back in the US, meanwhile, based in Memphis uLab systems is another dental startup in artificial intelligence. The company offers software that automatically segments teeth and uses artificial intelligence to create a basic treatment plan.
Giving orthodontists more to smile
Orthodontics, lest anyone forget, represents a fairly large addressable market. Each year, more than 20 million patients worldwide begin orthodontic treatment, according to LightForce. Of those, about two-thirds are teenagers, and most will need braces that cost several thousand dollars.
There are also prospects for rapid growth as there are more people around the world who would benefit from braces but do not have access or the means to obtain them. Still others may choose to pursue straighter teeth if orthodontic treatment was faster, more comfortable, and had higher success rates.
Also, although investor interest in orthodontic technology appears strong, they support startups that want to augment orthodontists, not replace them. While AI can help you design your braces, they don’t want to put them on for you.
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