tab32, a full-service technology platform for dental practices, announced closing a Series B round led by Spark Growth Ventures, a leading technology VC firm “on a mission to support gritty and exceptional founders.” The fundraising round is the culmination of five consecutive years of 100% year-on-year growth, including two straight years of profitable operations, and comes on the heels of tab32 signing several national dental service organizations (DSOs) as clients.
The new capital will support tab32’s continuing commitment to driving technological innovations and enabling the dental industry. The company’s cloud-based solution with proprietary Open Data Warehousing is the first in the industry to pioneer a standard model for data storage, sharing, and reporting, giving dentists and practice administrators a single source of truth for all patient information. With seamless real-time synchronization across all devices and access points, tab32’s platform is a true game changer supporting the dental industry’s rapid digital transformation.
Far more than just dental practice management software (PMS), tab32 delivers cloud connectivity and data interoperability tailored to the needs of the $130B dental support organizations (DSOs) space — a fast-growing market now attracting over $1T in private equity investment. Today, up to 20% of dental practices are DSO-affiliated, a proportion that could grow to 65% by 2025. tab32 is powering that transition by enabling DSOs to more effectively serve dozens or even hundreds of dental practices, and provide operational support within a unified cloud platform that streamlines key functions including patient engagement, billing, imaging, and teledentistry.
As dental practices grow and providers grapple with an explosion of patient-related data, tab32’s platform also comes with robust machine learning capabilities that provide critical business intelligence. This enables capabilities such as automating workflows (auto-booking incomplete treatments, for example), conducting multi-location aware analytics on business growth and profitability, and tracking in-depth dental key performance indicators.
“It’s rare to see a startup achieve rapid and consistent organic growth while maintaining profitability, and tab32 is a true stand-out among the businesses we’ve had the opportunity to partner with,” said Hem Suri, founder and managing partner of Spark Growth Ventures. “Kiltesh Patel and the tab32 team are pioneers in the dental technology world, which can greatly benefit from cutting-edge digital innovations to drive material improvements in not only patient care but also the business performance of dental practices. We’re excited to be doubling down on our partnership with tab32 as they enter a new phase of rapid growth.”
“Ever since our founding, we have been laser-focused on solving the pain points facing the dental industry and helping them reap the benefits of the latest cloud technology,” said Kiltesh Patel, CEO and co-founder of tab32. “Our growth trajectory and profitability bear testament to the market’s huge demand for cloud-based, end-to-end solutions. We’re looking forward to continuing to leverage Spark’s expertise, experience, and advisory as we continue to expand.”
The new funding will enable tab32, which currently has 65 employees, to double its headcount across its offices in the United States and India. The company will also continue to invest in R&D to optimize and build out its AI infrastructure for dental intelligence.