Tend Raises $37M Series B Led By GV
The technology-driven dental startup will use the funding to expand its footprint and launch new product offerings in 2021
NEW YORK, Oct. 1, 2020 /PRNewswire/ -- Tend, the first dentist that people actually look forward to, today announced it has raised $37 million in new funding led by GV, alongside new investors Tiger Global, Zigg Capital and Good Friends, the fund formed by the founders of Allbirds, Harry's, and Warby Parker. Existing investors Juxtapose and Redpoint also participated. The round brings Tend's total capital raised to $73 million.
With the full support of investors, Tend will continue to expand its vision for the strategic growth of the business in the years to come, investing deeply in technology and patient experience. 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. Dental is one of the largest categories of consumer healthcare spending at $142 billion. 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.
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%.
"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 first launched in October 2019 with a new, innovative approach to oral care, infusing hospitality elements into the patient experience with offerings like visit customization and price transparency. In 2021, as Tend expands to new cities and develops new products, the company will build its growing team, adding to its over 150 talented staff across dental, operations, and technology. Together, this team will drive Tend's mission to create a new standard for oral health, starting at the dentist and extending into daily life.
Tend is the first dentist that people actually look forward to. Launched in October 2019, Tend was created 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. Founded by CEO Doug Hudson and supported by over 150 talented team members in New York City and Nashville, Tend currently operates five New York dental studios in Chelsea, Flatiron, Grand Central, Wall Street, and Williamsburg.
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