Toothio, a Phoenix-based digital staffing marketplace for the dental industry, has raised an additional $5 million in funding to hire dental hygienists, assistants, and office staff for dental offices across the United States.
The funding round was led by NVP Capital and Craft Ventures. Rho Capital, Marketplace Capital, Roosh Ventures, Burst Capital, Revere Partners, Karman Ventures, Az Crown, and Connexa Capital also participated.
“As an investor, it is rare to identify a pain point as severe as the staffing shortage that persists in the dental industry,” said Jonathan Beda, managing partner at Connexa Capital. “Toothio’s best-in-class retention among dental professionals and dental practices on the platform reflects the company’s incredibly effective matching algorithm and management’s deep understanding of its users’ needs.”
According to the ADA Health Policy Institute (HPI), the dental sector is grappling with a workforce shortage, with a 10% reduction in practice capacity due to declining enrollment in dental assisting and hygiene programs, a trend worsened by the COVID-19 pandemic, suggesting staffing challenges will persist for years.
The capital infusion coincides with Toothio’s expansion into several new markets, including Chicago, Los Angeles, San Jose, Portland, Seattle, Baltimore, Charlotte, and Orlando.
This year alone, Toothio has added over 15,000 dental professionals to its platform.
How it works
Toothio gives private dental practices and dental service organizations (DSOs) exclusive access to a vetted pool of over 30,000 highly qualified dental professionals. The company’s proprietary algorithm then matches top-rated professionals with nearby open shifts, connecting dental offices with the most skilled staff for their unique needs.
“With dental offices across the country struggling to maintain full staffing levels, we’re here to ensure both patient care and office efficiency are optimized,” said Ian Prendergast, co-founder and CEO of Toothio.
“This additional capital will help us further expand the reach of our platform, delivering seamless, on-demand staffing solutions for dental offices across the country while empowering staff through a more flexible model of work,” he added.
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