The Technology team advised SmileDirectClub in its latest sale of equity for a total of $380 million, which values the company at $3.2 billion. The financing was led by Clayton, Dubilier & Rice (CD&R), one of the world’s leading private equity investors, and included participation from Kleiner Perkins and Spark Capital. The funds will be used for innovation, research and development, and international expansion.
Based in Nashville, Tennessee, SmileDirectClub is leading the charge in teledentistry and continues to disrupt the overall teeth straightening industry. Known for its work of straightening smiles across the country at an affordable price – up to 60% less than traditional methods – SmileDirectClub has seen incredible growth since its inception in 2014. The Company has straightened more than 300,000 smiles and has hired more than 3,200 employees.
The Goodwin team was led by partner Ian Engstrand and associate Andrew Pusar and included partners John Egan and Janet Andolina; and associates Gabriela Morales-Rivera, Rob Intile,Rob Hillenbrand, Kelvin Lin and Alexander Plaum.
For additional details on the funding, please read the press release.