PARIS & AUSTIN, Texas--(BUSINESS WIRE)--DentalMonitoring has become the first dental software company to attain a valuation over $1 billion announcing a $150 million growth financing. The round is led by a new investment of $90 million from Mérieux Equity Partners and $60 million from Vitruvian Partners, an existing financial investor, demonstrating confidence in the company’s ambitious plans.
Since CEO and co-founder Philippe Salah launched the company in 2014, DentalMonitoring has become the first player to harness AI for remote monitoring in the dental and orthodontic fields. Driven by the treating doctor, DentalMonitoring’s AI automates messages and instructions sent to patients and practice staff to synchronize the delivery of care with the need of care. DentalMonitoring is also the first and only company offering virtual practice solutions for all dental professionals to help streamline and automate their workflow from initial virtual consultation, patient triage and conversion, to remote monitoring of all appliances and brands. To date, there are over one million patients in more than 50 countries that have taken more than a billion intraoral images on the DentalMonitoring platform.
“We are proud to be supported by leading international funds,” says DentalMonitoring CEO Philippe Salah. “This achievement marks a new milestone for the company, and is a testament to the new standard of care our team has brought to the profession. We will continue to deliver even more innovative solutions for dental professionals to help them provide better care and scale their practices.”
The company plans to use the proceeds to finance its rapid global growth, targeting an increased presence in the U.S. and expanding into new markets such as China and Japan. DentalMonitoring also plans to nearly double the number of employees in the next two years and target relevant acquisitions.
“AI is one of the major technologies to transform the delivery of healthcare and improve patient outcomes. DentalMonitoring’s team and their disruptive technology have convinced us of their ability to address the expanding demand for remote care capabilities for dental professionals. We are proud at Mérieux Equity Partner to back healthtech talent and look forward to supporting DentalMonitoring in their stellar growth, leveraging our international network.” added Caroline Folleas of Mérieux Equity Partners.
“By enabling remote dental care, DentalMonitoring is the biggest disruptor to the field since intraoral scanners in the 1990s and digital imaging in the 1980s. The company is an excellent fit with our investment strategy of backing best-in-class companies benefiting from strong market tailwinds with internationalization opportunities. Vitruvian renews its confidence to support the increasing needs of the company’s ambitious growth plans.” says Torsten Winkler of Vitruvian Partners.
Jefferies LLC, a global investment bank with a deep knowledge of the dental and software markets, served as Sole Placement Agent to DentalMonitoring on this investment round.
About DentalMonitoring - www.dental-monitoring.com
DentalMonitoring was started with a simple idea: oral care should be connected and continuous — even outside the practice. The company has created the world’s first virtual practice platform in dentistry, protected by over 200 patents, to address rapidly evolving patient expectations. Thanks to the largest database of dental images in the industry, DentalMonitoring has developed the most advanced and comprehensive doctor-driven AI solutions to help dental professionals provide superior care and a better patient experience. From patient lead engagement and conversion, providing treatment options through AI-generated reporting and advanced smile simulations, to remote monitoring of all types of treatments, DentalMonitoring’s unique platforms give dental professionals complete control over streamlined assessments and communication. DentalMonitoring has over 400 employees across 18 countries and 9 offices including Paris, Austin, London, Sydney and Hong Kong.
About Mérieux Equity Partners - www.merieux-partners.com
Merieux Equity Partners ("MxEP") is an AMF-accredited management company dedicated to equity investments in the health and nutrition sector. With more than 45 companies backed, MxEP actively supports entrepreneurs and companies whose products and services bring differentiated and innovative solutions by providing privileged access to its expertise and the industrial, scientific and commercial network of Institut Mérieux (BioMerieux, Transgene, ABL, Mérieux Nutrisciences); MxEP currently manages over €1 billion in assets.
About Vitruvian Partners - www.vitruvianpartners.com
Vitruvian is a leading international growth investor headquartered in London with offices in London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries. Vitruvian has backed over 100 companies and has assets under management of approximately €10 billion. Notable investments include global market leaders and disruptors in their field such as CRF Health, Fotona, Ada, doctari, Vestiaire Collective, Farfetch, Just Eat, Marqeta and TransferWise.