Dental Intelligence Secures $34 Million Series A Funding to Advance Data-Driven Dental Practice Management Platform

On September 20, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical information technology company Dental Intelligence had completed a $34 million Series A financing round. The investor in this round was K1 Investment Management (K1).

Dental Intelligence plans to use the funds from this financing round to expand its scale, further develop its data-driven dental management and treatment platform, and meet the needs of dental clinics and patients.

It is reported that Dental Intelligence completed a $500,000 debt financing round led by Lighter Capital in February 2018.

Dental Intelligence, founded in 2015 and headquartered in Utah, USA, is a healthcare information technology company specializing in the dental sector. The company is dedicated to developing advanced data analytics and workflow automation management platforms that help dental clinics and dentists streamline workflows, enhance clinical efficiency, and improve patient care.

Dental Intelligence has developed a suite of data-driven, patient-centric applications, including Patient Finder, Morning Huddle, and Today's Follow-Ups. The company currently boasts a team of over 150 members, and its platform has been adopted by more than 5,000 dental practices across the United States.

It is reported that upon completion of this financing round, Dental Intelligence will acquire LocalMed, a company primarily providing online appointment scheduling services for dental care. LocalMed’s real-time online booking platform bridges the gap between dentists and patients, assisting healthcare professionals in their workflows and enhancing medical efficiency. Through LocalMed, dental clinics and patients can schedule appointments conveniently and efficiently.

Weston Lunsford, Co-Founder and CEO of Dental Intelligence, stated, “This investment will help us continue to develop new products and marks a significant milestone in the company’s growth. Our mission is straightforward: to help dentists improve performance and enhance the patient experience. With the support of K1, Dental Intelligence will provide dental practices with a more advanced platform to facilitate better delivery of dental care.”

K1 Vice President Kellen Haines stated, “Dental Intelligence’s growth has been remarkable, and we are excited to partner with them to jointly elevate the standard of patient care.”

K1 Managing Partner Taylor Beaupain added, “Dental Intelligence has grown rapidly and was recently named one of the fastest-growing and most commercially successful companies in Utah. K1 will continue to support Dental Intelligence as it transforms the practice model of dental clinics across the United States.”

K1, founded in 2011 and headquartered in California, USA, is a venture capital and private equity firm. The company focuses on investing in life sciences, software development, and innovative technologies to drive the growth of the North American software technology market. K1 boasts an experienced investment management team that primarily provides financial support and strategic guidance to high-growth private companies. To date, the firm has invested in 110 software enterprises, including Apttus, Buildium, Certify, Checkmarx, and ChiroTouch.

(Compiled by Xu Xiaoxue)