Level Equity Invests in Planet DDS to Advance Denticon Dental Software Platform

On August 1, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Planet DDS, a provider of cloud-based dental practice management software solutions, recently secured growth capital from Level Equity. Specific financial terms were not disclosed.

Level Equity is a New York-based private investment firm. Level Equity’s investment marks the culmination of Planet DDS Denticon’s rapid expansion in its software business over the years. This move was primarily driven by the ongoing consolidation in the dental market and the growing demand for enterprise cloud solutions.

U.S. weekly magazine Inc. named Planet DDS to its 2019 list of the fastest-growing private companies, marking the company’s second appearance on the list in recent years. Planet DDS was also named to the magazine’s 2019 ranking of the Best Workplaces in America.

“The past four years have been very exciting for Planet DDS,” said Blake Rice, President of Planet DDS. “Driven by the accelerated consolidation and cloud adoption in the dental industry, demand for our software has surged significantly.”“Investment from Level Equity will help Planet DDS meet the needs of upgrading and enhancing its Denticon software platform,” said Eric Giesecke, CEO of Planet DDS.

He stated that Planet DDS is at a uniquely pivotal moment as the dental industry shifts toward cloud computing. He expressed great enthusiasm about partnering with Level Equity for the next phase, noting that Level Equity brings not only capital but also deep software expertise from other verticals, which is crucial for Denticon’s advancement into its next stage of growth.

Ben Levin, Co-Founder of Level Equity, stated, “Over an extended period, we have been fortunate to cultivate a strong relationship with the Planet DDS team and have been impressed by the company’s track record of rapid profitable growth. Dental practices have long been underserved by traditional vendors. We are delighted to support this market-leading, cloud-based PMS and enable it to fully scale its capabilities and features. We consider them a category killer in this space.”

Planet DDS is a leading provider of cloud-based dental practice management software in the United States. The company offers its clients cloud-based dental practice management software that eliminates issues associated with network maintenance, data backup, security, and various other resource-intensive tasks. Additionally, Planet DDS provides outsourced business services to dental practices. Founded in 2003, the company is headquartered in Irvine, California.

Planet DDS’s Denticon is a cloud-based software solution. Denticon holds the largest market share among all emerging and established dental software providers, enabling customers to break free from the constraints of desktop software through a comprehensive solution that includes standardized, centralized tools essential for growth. It also reduces IT costs and enhances security.

Level Equity is a growth equity firm headquartered in New York, focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion through a series of long-term investment partnerships.

(Compiled by: Xu Wenjuan)