InBrace, the orthodontic company behind the novel Smartwire™ category of behind-the-teeth, teeth straightening, today announced the closing of an oversubscribed $102 million Series D financing by funds affiliated with new investor groups co-led by Farallon Capital Management, L.L.C. and Marshall Wace. 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.
InBrace is one of the fastest growing companies in the $40 billion orthodontics market. The company 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.
InBrace is the first to introduce the use of the revolutionary Programmed Non-Sliding Mechanics process for moving teeth. Its proprietary Smartwire™ has been designed and fabricated with AI and Gentleforce™ Technology to deliver a superior experience that provides fast results and healthy tooth movement, while being completely hidden behind the teeth. Each Smartwire™ is personalized for each mouth and is made from a programmable memory wire that gently works behind the teeth while allowing patients to eat, drink, brush, and floss normally. InBrace is orthodontics on autopilot. InBrace moves teeth without the painful monthly tightenings or frequent changing of plastic aligners required with traditional options.
According to InBrace, in North America alone, approximately 6 million people begin orthodontic treatment every year with traditional teeth straightening options. However, there remains up to 178 million North Americans who could benefit from teeth straightening but haven’t started treatment because they want an option that’s completely hidden, does not compromise their lifestyle, and provides healthy, fast results with more comfort – conditions that were unmet until InBrace introduced Smartwire™. Orthodontists can now tap into the unmet needs of today’s busy and aesthetically-minded consumers without compromising clinical predictability and ease-of-use.
“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.”
“We are honored to partner with InBrace to help them achieve their vision in this growing market. We believe the advanced technology InBrace is bringing to market will significantly increase the number of people seeking orthodontic treatment,” said Rob Barmann, a partner at Endeavor Vision who recently joined the InBrace Board of Directors as part of the Series D financing.
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.”
InBrace was invented & founded by Drs. John Pham and Hongsheng Tong, who set out to find a healthier and more efficient teeth straightening system for children with cleft lip and palate; partnered with USC & Children’s Hospital Los Angeles. InBrace filed the first application patent of its extensive patent portfolio in 2012.
InBrace is teeth straightening on autopilot with a personalized Smartwire hidden behind teeth that gently perfects smiles. InBrace treats all types of orthodontic cases from mild to severe malocclusions.
About Marshall Wace
Founded in 1997, Marshall Wace is a global alternative investment manager. Marshall Wace combines fundamental investing with systematic and quantitative strategies utilizing proprietary systems and processes.
About Vivo Capital
Founded in 1996, Vivo Capital is a global investment firm focused on healthcare. Vivo has approximately $5.8 billion in assets under management, invested in over 300 public and private companies worldwide. The firm is headquartered in Palo Alto, California, with additional offices in Asia. The Vivo team consists of more than 50 multi-disciplinary professionals, including, physicians, scientists, entrepreneurs, operating executives, and industry experts.
Vivo provides a multi-fund investment platform, covering growth equity, private equity including buyout, venture capital, and public equity. Vivo invests broadly in healthcare across all fund strategies, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a focus on the largest healthcare markets.