US-based teeth straightening device maker InBrace closed a $102m series D round yesterday backed by Novo Ventures, the corporate venture capital arm of pharmaceutical firm Novo.
Investment firm Farallon Capital Management and asset manager Marshall Wace co-led the round, which also included Endeavour Vision, MVM Partners, RTW Investments, Soleus Capital, Vivo Capital, VenBio Partners and funds and accounts managed by BlackRock.
Founded in 2014 as Swift Health Systems, Inbrace has created a discreet teeth straightening system that uses computer modelling and artificial intelligence technology to treat orthodontic patients.
The proceeds of the round will go toward the expansion of InBrace’s sales division and supporting the launch of new marketing initiatives.
John Pham, co-founder and CEO of InBrace, said: “The series D funding further validates the ability of InBrace to attract new consumers who previously opted out of orthodontic treatment because they did not have an option that fit their lifestyle.”
Inbrace had previously raised at least $70.6m in total. Novo joined Vivo Capital and VenBio to co-lead a $45m series C round for the company (then known as Swift Health Systems) in late 2019 having closed a $20m series B round featuring undisclosed investors in early 2018. A regulatory filing shows it raised $5.6m from unnamed backers in 2016.