Against the backdrop of COVID-19, technology-driven dental start-up Tend raised a $37 million Series B to expand its footprint and launch new product offerings in 2021.
WHO: Tend was co-founded by Doug Hudson along with Andy Grover and Michael Stenclik in October 2019 to set a new standard for oral health by providing dentistry the way it should be—hassle-free, personalized, and straightforward, with a focus on patient happiness—all in a calm, inviting, and thoughtfully designed space. Tend currently operates five New York dental studios in Chelsea, Flatiron, Grand Central, Wall Street, and Williamsburg.
WHY: Tend will use the funding to build new studios across the country over the course of 2021, expanding its five existing locations in New York to over 20 in new metro areas, starting with Boston and Washington, DC. The company will also debut its first suite of oral care products. This expansion will allow Tend to reach new customers nationally, both in-studio and through online retail, introducing the brand as an essential part of people’s daily oral health routines.
IN THEIR OWN WORDS: “New York has proved to be the perfect place to start our business, and we’re proud to be part of the city’s ongoing recovery story,” said Doug Hudson, CEO and co-founder of Tend. “Dentistry is a vital service, and our deep investment in technology gives us the ability to provide a safer experience for our patients. With the backing of our partners, we look forward to bringing the Tend experience to new cities and into people’s homes across the country.”
“Tend is recreating the entire dental experience to ensure patients look forward to visiting the dentist, and Doug Hudson is a seasoned entrepreneur that can truly bring this vision to life,” said John Lyman, partner at GV. “The company’s unique approach, experienced executive team, and early traction will allow Tend to reach customers nationally as they continue to expand and bring better oral healthcare experiences to more people.”
- Tend raised a $37 million Series B led by GV, alongside new investors Tiger Global and Good Friends, the fund formed by the founders of Allbirds, Harry’s, and Warby Parker. Existing investors Juxtapose, Redpoint, and Zigg Capital also participated.
- The round brings Tend’s total capital raised to $73 million.
- Co-founder and CEO Doug Hudson isn’t new to the category. He was the former CEO of teledentistry company SmileDirectClub.
- According to the company, revenue in 2019 exceeded $5 million, though it is not yet profitable.
- Tend raised its funding against the backdrop of the COVID-19 pandemic. After closing its studios in March, it reopened in June with a reimagined patient journey that prioritized safety while retaining an elevated experience. In 30 days, new patient appointments had recovered by 85%. Today, Tend’s revenue has recovered by over 150%.
Photo: via Tend