March 31, 2015
Convergent Dental Secures $9 Million in Growth Capital
Natick, MA – March 31, 2015 — Convergent Dental Inc., a privately held dental device company, today 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 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.
“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. It’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. ”
# # #
About Convergent Dental, Inc.
Convergent Dental, Inc., is a privately managed dental equipment and technology company and is the developer of Solea™, the world’s first computer-aided, CO2 laser system to ever be cleared by the FDA for both hard and soft tissue indications. Solea cuts significantly quieter, finer and faster than any other laser-based system in dentistry. Solea’s speed and precision is a result of patented technologies and computer system controls that are unique to Convergent Dental, Inc. For more information visit www.convergentdental.com. Follow the company on Twitter, Facebook, LinkedIn and Google+.
Breakaway Innovation Group