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Tenaya leads $15m Series C round for dental services marketplace Brighter

29 Oct 2013

dentist-dental-toothbrushVenture investor Tenaya Capital has helped dental services marketplace Brighter raise $15m by leading a Series C financing round for the business.

Existing investors Mayfield Fund and Benchmark also took part in the financing round, which Brighter said would be used to expand it into new markets across the US.

Tenaya managing director Stewart Gollmer said he believed Brighter was not only the future of the dental industry but also set the example for how to use marketplaces and technology to reduce overall healthcare costs.

He said, “Technology companies like Brighter are quickly taking the lead in helping patients become smarter healthcare consumers.

“Brighter is flipping the dental insurance model on its head by creating a marketplace where dentists compete for patients based on price, quality and convenience.

“We believe this is how healthcare should work, and are excited to invest in Brighter and support its remarkable team spearheading this transformation.”

In the summer Tenaya led a $20m financing round for cloud-based medical practice management service CareCloud.

Existing backers Intel Capital and Norwest Venture Partners also took part in the Series B round, which took CareCloud’s total financing to $44m.

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