There is another market trying to disrupt and digitize a traditional market. Torch Dental is focused on helping dentists as buyers and dental suppliers as sellers. It recently raised $28 million in new funding and brought its total funding to date to $40 million.

Health Velocity Capital’s recent round of funding will “accelerate the digitalization of purchasing for the dental practice.” Among the other investors, the following people also contributed to the financing:

• Bessemer Venture Partners
• FJ Laboratories
• Felicis Ventures
• Tectonic Adventures
• Raga Partners
• Town hall companies

Today, dental practices use a mix of pen and paper, phone calls and emails to track and place billions of dollars in annual orders, which vendor sales representatives accept and process, says Torch Dental.

But the market already says it is working with around 2,000 dental practitioners to digitize the process by giving dentists and their chiefs of practice a new platform to connect with dental suppliers, place and track orders, and manage existing supplier relationships. “We are driven to help dentists discover, order and pay for everything they need to run their practice,” says Khaled Boukadoum, co-founder of Torch.

“It is rare to find an opportunity to accelerate the transition from analog to digital in such a large and important supply chain.”

Register

Sign up for a free subscription to Digital Commerce 360 ​​B2B News, published 4x/week. It covers technology and business trends in the growing B2B e-commerce industry. Contact Mark Brohan, Senior Vice President of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan.

Follow us on LinkedIn and be the first to know when we publish Digital Commerce 360 ​​B2B News content.

Favorite