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Convergent Dental Inc., a privately held dental device company, announced that it had secured $9 million in a funding round led by existing investors Long River Ventures and the Gund Foundation as well as new individual investors and family offices.
Solea, the first FDA-approved, CO2 9.3 micron dental laser for hard and soft tissue, is said to be gaining significant traction within the dental community due to its ability to deliver virtually anesthesia-free and blood-free procedures.
When a dentist does not have to administer anesthesia or control bleeding, it significantly improves efficiency. Many Solea dentists report performing six or more additional procedures per day which represents revenue gains of 25 – 40 percent. This latest round of funding enables continued investments in product innovation, sales and implementation so Convergent Dental can scale with growing market demand.
Related reading: Convergent Dental announces upgrades to Solea laser
“We are pleased to see Solea accomplish so much in just its first year on the market,” said Will Cowen, general partner, Long River Ventures. “Solea delivers a much improved patient experience and at the same time a compelling ROI for the dentist. t’s a clear win-win. We are happy to offer continued support to such a game-changing company.”
Solea sales nearly doubled in Q4 2014 as practitioners around the country adopted this unique CO2 dental laser technology. Solea is establishing itself as the go-to tool for many dentists, replacing the noise, vibration and needle typically associated with dental visits with a quiet, virtually painless patient experience.
“This latest round of funding will fuel Solea’s already impressive growth,” said Convergent Dental CEO Michael Cataldo. “As more dentists implement this unique technology, it is becoming obvious that we are literally changing what it means to go to the dentist. The dental laser’s impact on patients’ experiences and dental practices’ bottom line is all positive and positions Convergent Dental for even greater growth in 2015.”
Related reading: Convergent Dental partners with Benco Dental