Total amount raised
$86.4 Millions
Latest funding date
4/1/2019
Location
Candid has successfully raised significant funding through multiple rounds, with notable investors such as Beyond Capital and Fantail Ventures backing the company. The platform, CandidPro, offers a comprehensive orthodontic solution that helps doctors provide clear aligner treatments to their patients.
Keep reading to explore the intricacies of Candid's fundraising journey and the investors supporting this innovative dental health platform.
What Is Candid?
Candid, founded in 2017, is based in New York, New York. The company was established by Bobby Ghoshal, Lilla Cosgrove, Nick Greenfield, and Sam Levine.
Specializing in clear aligner therapy, Candid offers a comprehensive orthodontic solution known as CandidPro. This platform assists dental professionals in providing effective and efficient clear aligner treatments to their patients.
With a team of 251-500 employees, Candid continues to innovate in the dental health industry, leveraging advanced technology and high-touch service to improve patient outcomes.
How Much Funding Has Candid Raised?
- Series A
- Amount Raised: $15M
- Date: November 2017
- Lead Investors: Bessemer Venture Partners, Greycroft, Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance operations and expand customer base.
- Convertible Note
- Amount Raised: $8M
- Date: June 2018
- Lead Investors: Blisce
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support product development and market expansion.
- Series B
- Amount Raised: $63.4M
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and enhance technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further market penetration and technology improvements.
- Series B
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand orthodontic platform and clinical support.
Total Amount Raised: $86.4M
Current Valuation: Not publicly disclosed
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm with a rich history of investing in innovative companies. They have a diverse portfolio and a strong track record of successful exits.
- Investment Focus Areas: Enterprise, consumer, healthcare.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in early and growth-stage technology companies. They have a hands-on approach to supporting their portfolio companies.
- Investment Focus Areas: Technology, media, consumer internet.
- Notable Investments: Venmo, The RealReal, Scopely.
- Headline
- Details: Headline is a global venture capital firm that invests in early-stage technology companies. They focus on identifying and supporting high-potential startups.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Bumble, Farfetch, Sonos.
- Blisce
- Details: Blisce is a venture capital firm that invests in high-growth technology companies. They are known for their strategic support and global network.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Spotify, Pinterest, Bird.
- e.ventures
- Details: e.ventures is a venture capital firm that focuses on early-stage investments in technology companies. They have a global presence and a strong portfolio.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Groupon, Sonos, NGINX.
What's Next for Candid?
As Candid looks to the future, the company is poised to capitalize on the growing demand for affordable and convenient orthodontic solutions. With a strong foundation in 3D printing technology and a focus on at-home dental care, Candid has the potential to significantly expand its customer base and market presence. The recent $15 million Series A funding round is a testament to the opportunities available, enabling the company to enhance its operations and reach more patients.
Future fundraising opportunities are likely as Candid continues to grow and innovate. The company may attract additional investment to support further expansion and technological advancements. However, challenges such as competition from established players like Invisalign and navigating regulatory requirements will need to be addressed. Ensuring the quality and effectiveness of their 3D-printed aligners will be crucial for maintaining customer trust and achieving long-term success.
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