Investment to be used to acquire LocalMed, grow the team, expand group and enterprise partnerships, and accelerate new product development
PLEASANT GROVE, UTAH (PRWEB) SEPTEMBER 17, 2019
Dental Intelligence, Inc., the leading analytics and workflow automation platform for dental practices, announced today that it has raised a $34 million minority Series A growth round of funding from K1 Investment Management, a leading investment firm focusing on high-growth enterprise software companies.
Dental Intelligence (“di.”) launched in 2015 as a product to help dentists manage and grow their practices. Since then, the company has developed additional patient-focused applications driven by sophisticated analytics, including the Patient Finder, Morning Huddle, and Today’s Follow-Ups. In less than four years’ time, di.’s platform has been adopted by over 5,000 dental practices across the U.S., which have seen an average increase in topline production of over 50% after the first 12 months of usage.
“This investment marks a big milestone in di.’s growth,” said Weston Lunsford, co-founder and CEO of Dental Intelligence. “From the beginning, our company has had one simple purpose: helping dentists improve team performance, value, and overall culture in the practice. Everything we do emanates emotion, inspires engagement, and enables enrichment around that one purpose. This significant investment will accelerate di.’s ability to continue developing new tools so that providers can perform better dentistry and do more of it. K1’s strong operational capabilities and track record of building category leaders made them a perfect partner for us.”
A portion of the funding was used toward the recent acquisition of LocalMed, the industry leader in providing real-time, online appointment scheduling. Dental Intelligence will also use the investment to further develop and market existing and future products to individual, small group, and large enterprise practices due to increased demand across all customer segments.
“We are thrilled to partner with Weston and the Dental Intelligence team in this next chapter of growth and to support their mission of improving patient care,” said Kellen Haines, Vice President at K1. “Providing dentists with increased visibility into the performance of their practices and giving them the tools to be more successful in driving additional care is a win-win.”
In just over four years, Dental Intelligence has grown to over 150 team members with plans to bring on additional new hires throughout the company over 2019 and 2020.
“Dental Intelligence has experienced incredible revenue growth, having more than doubled since our initial underwriting,” added Taylor Beaupain, Managing Partner at K1 Investment Management. “K1’s investment, along with the company’s recent appointment to the Inc 5000 list of fastest-growing companies and the Utah Business Fast 50, provide continued recognition and validation of the company’s efforts to improve the lives and practices of dentists across the country.”
Dental Intelligence is the world’s smartest software used by thousands of dentists to manage and grow their practices. Dental Intelligence simplifies the team’s daily activities that are most important in improving patient health and increasing profitability in the practice. To learn more, visit https://www.dentalintel.com/
LocalMed’s real-time online scheduling platform helps dental practices close the loop on all of their marketing efforts by connecting with potential patients wherever they’re searching: a practice’s website, Google, social media, insurance and product partners, etc. With LocalMed, a dental practice is open for scheduling anywhere, anytime, 24/7. Visit https://localmed.com to learn more.
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since the inception of the firm, K1 has partnered with over 110 enterprise software companies including industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen, ControlUp, Granicus, IronScales, Jobvite, Onit, Rave Mobile Safety, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit https://www.k1capital.com or https://www.linkedin.com/company/k1im.