Spanish invisible orthodontics maker Smile2Impress, or simply, Impress, has raised $50 million in a Series A round led by CareCapital. The round also saw participation from Nickleby Capital, UNIQA Ventures, TA Ventures, and Bynd VC. The firm is reporting that the funding is earmarked to further expand its presence across Europe, as well as propel the orthodontic experience further into the digital realm.
“Impress has reinvented orthodontics treatment delivery model by offering cost-effective yet uncompromised Orthodontic care through its fast-expanding modern clinic network in combination with a digitally-led approach,” comments CareCapital’s Bindu Saran. “We were deeply encouraged by the commitment of Impress to provide X-ray, 3D scans, and in-person dental assessments by a specialist to evaluate root, nerve, and oral health before the start of treatment.”
Founded in 2019 by Dr. Khaled Kasem and Diliara and Vladimir Lupenko, Impress combines traditional orthodontics methodology and modern technology to deliver a unique business model via a chain of clinics that are distinguished by their modern approach to the patient experience.
To date, the firm has scaled to 75 clinics in Spain, Italy, France, and Portugal, and despite the global pandemic, has increased the team size from 25 to 300 people in the past 15 months. During the same time period, Impress demonstrated a 13x sales growth, and is approaching a €50 million annual run-rate, with projections on track to reach €150 million of revenue within the next year.
Impress isn’t alone in the sector, as just a year ago Berlin-based competitor PlusDental raised €32 million with a focus on the German, Austrian, Swiss, British, and most importantly, Spanish markets. All this author can say is, wow, that’s a lot of straight teeth. 😬