US-based discreet orthodontic braces manufacturer Swift Health Systems raised $45m in a series C round yesterday co-led by pharmaceutical firm Novo Holdings.
Healthcare-focused investment firm Vivo Capital and life sciences-focused venture capital firm VenBio Partners co-led the round.
Founded in 2014, Swift Health has devised orthodontic braces branded Inbrace to help realign and straighten out teeth. Inbrace uses invisible wires that can be programmed through Swift’s software platform to fit the patient based on digital scans.
The series C cash will facilitate its bid to extend Inbrace’s commercial availability by signing up more orthodontists, boosting its sales and marketing capacity and rolling out customer incentive strategies to assist its affiliate product suppliers.
Peter Moldt, partner at Novo Ventures, has joined the board of directors together with Andrew Goldberg, principal at Vivo Capital, and Aaron Royston, partner at VenBio.
Swift Health’s overall funding has topped $70m in the wake of the series C round, it said.
The company most recently closed a $20m series B round in May 2018 with undisclosed investors, having previously secured $11.2m and $5.6m of equity in 2017 and 2016 respectively, according to regulatory filings.
John Pham, chief executive and co-founder of Swift Health Systems, said: “Even with DIY orthodontic therapy on the rise, most consumers appreciate the benefits of supervised healthcare from a licensed professional. Inbrace keeps patient care in the hands of clinicians, where the overall patient experience, oral health and treatment results are always top priorities.”