Toothio, a Phoenix-based digital staffing market for the dental trade, has raised a further $5 million in funding to rent dental hygienists, assistants, and workplace workers for dental places of work throughout the USA.
The funding spherical was led by NVP Capital and Craft Ventures. Rho Capital, Market Capital, Roosh Ventures, Burst Capital, Revere Companions, Karman Ventures, Az Crown, and Connexa Capital additionally participated.
“As an investor, it’s uncommon to establish a ache level as extreme because the staffing scarcity that persists within the dental trade,” stated Jonathan Beda, managing accomplice at Connexa Capital. “Toothio’s best-in-class retention amongst dental professionals and dental practices on the platform displays the corporate’s extremely efficient matching algorithm and administration’s deep understanding of its customers’ wants.”
Based on the ADA Well being Coverage Institute (HPI), the dental sector is grappling with a workforce scarcity, with a ten% discount in apply capability as a consequence of declining enrollment in dental aiding and hygiene packages, a pattern worsened by the COVID-19 pandemic, suggesting staffing challenges will persist for years.
The capital infusion coincides with Toothio’s growth into a number of new markets, together with Chicago, Los Angeles, San Jose, Portland, Seattle, Baltimore, Charlotte, and Orlando.
This yr alone, Toothio has added over 15,000 dental professionals to its platform.
The way it works
Toothio provides non-public dental practices and dental service organizations (DSOs) unique entry to a vetted pool of over 30,000 extremely certified dental professionals. The corporate’s proprietary algorithm then matches top-rated professionals with close by open shifts, connecting dental places of work with essentially the most expert workers for his or her distinctive wants.
“With dental places of work throughout the nation struggling to take care of full staffing ranges, we’re right here to make sure each affected person care and workplace effectivity are optimized,” stated Ian Prendergast, co-founder and CEO of Toothio.
“This extra capital will assist us additional increase the attain of our platform, delivering seamless, on-demand staffing options for dental places of work throughout the nation whereas empowering workers via a extra versatile mannequin of labor,” he added.