SensAble Technologies, a provider of 3D modeling software, haptic devices, and dental restoration design and fabrication solutions, received an $8 million investment to propel sales, marketing, and engineering efforts for its digital dentistry product line.
SensAble will use the new capital to better compete in the $3 billion worldwide market for dental restoration equipment and supplies, the company said.
"As dentistry goes digital, the dental lab business is in the early stage of a massive transformation -- with less than 20% of all dental labs currently leveraging digital technology -- while demand is on the rise as aging baby boomers need more and better dental restorations," said Curt Rawley, chairman and CEO of SensAble, in a press release. "It's an enormous market with multiple opportunities to improve dental lab productivity and quality of output."
Existing investor HLM Venture Partners led the round and was joined by North Bridge Venture Partners. As part of the funding, Carmichael Roberts of North Bridge and Ed Cahill and Enrico Picozza of HLM have been named to SensAble's board of directors.
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