Total amount raised
$198 Millions
Latest funding date
04/01/2021
Location
Tend has successfully raised funds through multiple rounds, with the most recent being a Series C round closed on April 12, 2021. The company is backed by 13 investors, including Juxtapose and Addition.
Keep reading to explore the intricacies of Tend's fundraising journey and the investors supporting this innovative dental care platform.
What Is Tend?
Tend, founded in July 2018, is a modern dental care provider headquartered in Nashville, Tennessee. The company was established by Andrew Grover, Doug Hudson, and Michael Stenclik.
Operating in the dental, health care, and wellness industries, Tend aims to revolutionize dental care with a focus on patient happiness and technology-driven services. With over 650 employees, Tend has expanded to 25 locations across major cities including New York, Washington DC, Boston, Atlanta, Nashville, and Connecticut.
Tend offers a wide range of services from general dentistry to cosmetic care and orthodontics, all within thoughtfully-designed, calming spaces. The company is known for its transparent pricing, ease of booking, and a no-judgment policy, making dental visits a pleasant experience.
How Much Funding Has Tend Raised?
- Seed Round
- Amount Raised: $15.5M
- Date: October 2019
- Lead Investors: Juxtapose
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and begin operations.
- Series A
- Amount Raised: $20.5M
- Date: October 2019
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial operations and increase service offerings.
- Series B
- Amount Raised: $37M
- Date: October 2020
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series C
- Amount Raised: $125M
- Date: April 2021
- Lead Investors: Addition
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the studio footprint nationwide and invest in technology.
Total Amount Raised: $198M. Current Valuation: Not publicly disclosed.
Key Investors
- Addition
- Details: Addition is a venture capital firm known for investing in high-growth technology companies. The firm led Tend's Series C funding round.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Stripe, Coinbase
- Google Ventures (GV)
- Details: Google Ventures is the venture capital investment arm of Alphabet Inc. It participated in Tend's Series B and Series C funding rounds.
- Investment Focus Areas: Life Sciences, Artificial Intelligence, Robotics
- Notable Investments: Uber, Nest, Slack
- Redpoint
- Details: Redpoint is a venture capital firm focused on early-stage technology investments. The firm led Tend's Series A funding round.
- Investment Focus Areas: Consumer Internet, Enterprise Software, Mobile
- Notable Investments: Netflix, Stripe, Twilio
- Juxtapose
- Details: Juxtapose is a venture capital firm that partners with entrepreneurs to build category-defining companies. It led Tend's Seed funding round.
- Investment Focus Areas: Consumer, Healthcare, Technology
- Notable Investments: Care/of, Tend
- Zigg Capital
- Details: Zigg Capital is a venture capital firm focusing on real estate and construction technology investments. It participated in Tend's Series C funding round.
- Investment Focus Areas: Real Estate, Construction Technology
- Notable Investments: VTS, Matterport
What's Next for Tend?
As Tend looks to the future, the company is poised to capitalize on significant opportunities in the dental care market. With plans to expand its studio locations nationwide, starting with Washington D.C. and Boston, Tend aims to increase its presence from six to 20 locations by the end of 2021. This expansion is supported by a $125 million Series C funding round, which will also be used to invest in technology and launch new product offerings.
The dental market, valued at $142 billion, presents a substantial growth opportunity for Tend. The company's focus on combining hospitality with patient experience positions it well to attract a growing number of patients seeking modern, enjoyable dental care. As Tend continues to grow, future fundraising opportunities may arise to support further expansion and innovation.
However, Tend may face challenges such as managing rapid expansion while maintaining service quality, navigating a competitive landscape, and adapting to potential regulatory changes in healthcare. Despite these challenges, Tend's commitment to enhancing patient experience and leveraging technology sets a strong foundation for continued success.
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