The funding will be directed at accelerating the growth of the company which produces the proprietary Smartwire orthodontic teeth straightening system.
InBrace, the orthodontic company behind Smartwire, announced the closing of an oversubscribed $102 million Series D financing by funds affiliated with new investor groups co-led by Farallon Capital Management LLC and Marshall Wace. According to a press release from the company, 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.
The company says it 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.
The proprietary Smartwire, which uses a programmed non-sliding mechanics process for moving teeth that was first introduced by InBrace, has been designed and fabricated with AI and Gentleforce technology. Each Smartwire customized for each patient and is made of programmable memory wire positioned behind the teeth, allowing patients to eat, drink, brush, and floss normally.
As the company puts it, “InBrace is orthodontics on autopilot. InBrace moves teeth without the painful monthly tightenings or frequent changing of plastic aligners required with traditional options.” InBrace can be used to treat mild to severe malocclusions.
“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, CEO, and co-founder of 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.”
Joe Siletto, InBrace chairman of the board and managing director of Vivo Capital, said, “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.”
