Candid Co, a US based orthodontics company offering direct-to-consumer and affordable 3D printed clear aligners has raised $15 million in capital from series A funding. The company offers modelling kits for aligners, which customers then return and receive a treatment plan for.
The new funding, with significant input from investors Greycroft, Bessemer, and e.ventures, will be used to to expand operations and reach new customers, widening the potential of affordable aligners.
3D printing affordable orthodontics
Launched in September this year, Candid offers clear aligners via a remote service, costing around 65% less than traditional in-office teeth-straightening. Pricing plans vary, and may be reduced by health insurance cover, but average treatments start from as low as $88 per month over 24 months, or $1900 up-front.
Candid’s direct to consumer model begins with the customer being suitability assessed and then purchasing a modelling kit, which they can use to make molds of their oral cavity at home. The company’s network of over 10,000 orthodontists then designs, reviews, and implements the aligners. Candid itself communicates with the customer.
To 3D print the aligners, Candid Co. uses the services of an affiliated lab. 3D printing allows the company to ship its aligners to the customer quickly.
Candid was co-founded earlier this year by a team of “startup veterans,” including Dr. C. Lynn Hurst of Texas Orthodontics, who now serves as Chief Dental Officer for Candid.
“Orthodontic technology has progressed dramatically over the past 20 years, but it’s almost exclusively available in a doctor’s office.”
“We’ve moved beyond delivering products into delivering customized and personalized service with convenience and affordability,” said Candid CEO Nick Greenfield, noting that budget and lifestyle were major barriers to many of those who wanted clear aligners.
The latest round of funding complements follows the initial $2m seed fund led by Arena Ventures. “Greycroft is excited to partner with the exceptional Candid Co. team to bring their positive mission to life,” said John Elton, board member at new investors Greycroft.
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Featured image shows technicians inspecting an oral impression ahead of 3D printing. Photo via Candid.