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.
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