OrthoAccel Technologies, Inc., a Houston, Texas-based orthodontic innovation company, completed a $12m Series C financing.
Backers included existing investors S3 Ventures and HealthpointCapital, as well as new investor Piper Jaffray Merchant Banking (NYSE: PJC).
The company intends to use the funds for sales growth and market penetration.
Led by Michael K. Lowe, president and CEO, OrthoAccel manufactures AcceleDent®, an FDA-cleared, Class II medical device that accelerates orthodontic treatment and relieves discomfort often associated with treatment. It is now available in more than 3,000 orthodontic locations in North America and nearly 800 international locations.
The company, which has EMEA office in Essen, Germany, is now adding 18 new sales representatives, with nine dedicated to expanding direct sales in Europe. Growth plans include adding 30 employees to support functions such as marketing, innovation, operations and clinical education.