Sacramento dental practice technology company tab32 received a round of venture capital led by early-stage investor Spark Growth Ventures of San Diego.
Spark did not disclose the size of the investment.
“Ever since our founding, we have been laser-focused on solving the pain points facing the dental industry and helping them reap the benefits of the latest cloud technology,” said Kiltesh Patel, CEO and co-founder of tab32, in a news release. “Our growth trajectory and profitability bear testament to the market’s huge demand for cloud-based, end-to-end solutions. We’re looking forward to continuing to leverage Spark’s expertise, experience and advisory as we continue to expand.”
Tab32 is based in South Natomas and has 65 employees in Sacramento and India.
The company said it will use the funding to double its employee count locally and in India and to optimize its offerings and develop more artificial intelligence-driven tools.
Tab32 has developed a cloud-based dental practice management platform that integrates patient communication, scheduling, digital forms, images, payment and records. The information is available in real time through multiple devices, and the platform includes security safeguards for patient information.
The software also has modules to support dental practices' efforts to attract new patients and retain existing patients, according to its website.
Tab32 said it has had five consecutive years of 100% year-over-year revenue growth, and it has been profitable for two years.
“It’s rare to see an early-stage startup achieve profitability and sustainable organic growth, and tab32 is a true standout among the businesses we’ve had the opportunity to partner with,” said Hem Suri, founder and managing partner at Spark Growth Ventures, in a news release. “Kiltesh and the tab32 team are pioneers in the dental world, which urgently needs digital innovations to improve patient care and help dental businesses to flourish. We’re excited to be continuing this journey with tab32 as they enter a new phase of rapid growth.”
Tab32 is listed as a portfolio company on the website of Spark Growth Ventures. Venture capital data service Crunchbase lists Spark Growth as the lead investor in tab32's first venture capital round, which it raised in February, and also in this Series B round of funding.
