Virtudent Closes $8 million Series A Financing to Expand the Nations First Enterprise Quality Mobile Dental Platform and Tele-Dentistry Services Offering

Virtudent, the leading provider of mobile dental clinics and
tele-dentistry services for employers, announced today that it has
raised an $8 million Series A financing. Virtudent will use the funds to
continue scaling its innovative enterprise quality mobile dental care
and tele-dentistry services offering, including expansion into new
geographies beyond its current New England markets. The funding round
was led by Boston-based .406 Ventures with participation from SpringRock
Ventures and existing investor The Sparta Group, LLC, the venture office
of Desh Deshpande.

In an era in which technology and on-demand services are critical for
striking a work-life balance, the American Dental Association reports
that 33% of patients currently avoid visiting their dentist due to
inconvenience. Cost barriers also continue to rise for Americans looking
to obtain dental care and the decision to forego routine preventive
visits impacts overall health downstream, leading to 12-15% higher
medical costs on average.

To seamlessly fit into patients’ lives, Virtudent works with employers
to bring a full dental clinic and tele-dentistry offering onsite at no
cost to the employer. A highly-trained Virtudent dental hygienist
operating under the supervision of a dentist brings the basic preventive
dental visit right on site using innovative portable kits the size of a
suitcase. Standard appointments deliver an advanced cleaning and a
comprehensive oral exam, including a full oral health risk assessment to
determine the patient’s risk of oral cancer, gum disease, and cavities
as well as digital dental x-rays and intraoral photographs, which are
reviewed remotely by a team of highly-qualified dentists. After
reviewing a patient’s case, Virtudent’s dentist may determine that
additional treatment is necessary and will submit a referral. A member
of Virtudent’s team will then work with the patient to help find a
trusted local dentist that is in-network with their insurance. All
dental records are available to the patient’s selected provider to
ensure proper continuation of care.

“As the first commercial tele-dentistry practice in the US, Virtudent is
committed to using technology to make the traditional dental visit
vastly more accessible, convenient, and patient-centric. Our mission is
to improve and innovate on the oral healthcare delivery system so that
high quality dental care is not a luxury, but a standard,” said Dr.
Hitesh Tolani, D.M.D., Virtudent’s Founder and CEO. “We are thrilled to
partner with innovative companies like Wayfair, Kronos, LogMeIn, and
athenahealth to eliminate the logistical impediments that can often
prevent their employees from getting world-class oral health, which is
also a key part of their overall health and wellness. .406 Venture’s
investment in Virtudent will allow us to expand our services, reach more
people, and ultimately improve oral healthcare nationally.”

“While technology is being used effectively in many areas of medical
care delivery, it is surprising how little the typical dentist visit has
changed over the past 200 years. In today’s time starved world, it is
hard to accept that the average dentist visit still takes an average of
four hours, including travel and wait time. In contrast, Virtudent’s
innovative tele-dentistry offering can be completed in 45 minutes flat.
Not only is this convenient for busy patients, but it also recaptures
patients who have not had care in years – the average Virtudent patient
hasn’t been to the dentist in almost six years,” commented Liam Donohue,
.406 Venture’s Managing Partner who will also be joining Virtudent’s
Board of Directors. “We are excited to partner with Virtudent as the
company is by far the best positioned to make high quality oral
healthcare a standard, not a luxury.”

In addition to its commercial activities, through a partnership with
Northeast Delta Dental, Virtudent provides high quality tele-dental care
to children at the Boys and Girls Clubs of New Hampshire. So far, the
program has served 4,200 children, many of whom had never been to the
dentist before. To learn more about Virtudent’s giving back program
visit, www.myvirtudent.com/about/giving-back/

About Virtudent

Headquartered in Newton, Virtudent is changing the face of dental
healthcare. Our company is leveraging telehealth technologies and a new
scalable delivery model to bring high-quality dental care to patients
who are otherwise foregoing their routine dental visits. No more taking
off work or missing school. By coupling our state-of-the-art pop-up
dental clinics with telehealth technologies, we bring the dental visit
right on-site. Our teledentistry care delivery platform not only
leverages the best dentists in the country, but also separates the
diagnosing provider from the treatment provider in order to ensure our
patients receive non-biased treatment plans that are 100% formulated to
promote prevention, wellness and health. We aim to make a traditionally
headache-inducing dental experience vastly more cool, convenient,
transparent and most importantly – all about the patient! To learn more
about Virtudent visit, www.myvirtudent.com.

About 406 Ventures

.406 Ventures is a Boston-based early stage venture capital firm
investing in healthcare and enterprise technology companies founded by
visionary entrepreneurs. .406 Ventures was founded in 2006 and has over
$650M under management across four funds. The firm leads, or co-leads,
first institutional investment rounds in market-changing companies. .406
Ventures’ healthcare theses focus on systems, technologies, and services
that improve clinical delivery, with investments in companies such as
Iora Health, AbleTo, Axial Healthcare, and Redox. Learn more at 406ventures.com
and here.

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