Skip to main content

Digital health company startup SmileDirectClub has just filed to go public according to Business Insider. The company, founded by Alex Fenkell and Jordan Katzman in 2014, hopes to raise $100 million from their IPO.

SmileDirectClub sells clear teeth aligners. Although braces or Invasalign aligners can cost $3,000 to $7,000, SmileDirectClub offers aligners for only $1,895 if all is paid up front or $2,290 over two years. The company is attempting to make straightening teeth more affordable and more accessible.

SmileDirectClub raised $380 million in October 2018 from firms Clayton, Dubilier & Rice and Kleiner Perkins and Spark Capital. After that round of fundraising, the company was valued at $3.2 billion. Two years before they were valued at $275 million.

In 2016 the company had 22,000 customers. In the first half of 2019, that number rose to 246,000.

Read the full story here.