Funding led by Benchmark Capital. Series A investor Mayfield Fund also participated in the round.
SANTA MONICA, CA, Brighter.com, the recently launched online consumer resource that makes quality dental care accessible and affordable for the millions of uninsured Americans, announced today it has secured $8 million in a series B funding led by Benchmark Capital. Series A investor Mayfield Fund also participated in the round.
Brighter.com, launched in May 2011 is a consumer resource that allows the nearly 50 percent of Americans without dental insurance to make informed decisions about their dental care by offering price transparency and discounts up to 60 percent on their dental procedures.
"Benchmark's investment is another validation that our mission to bring affordable dental care with total price transparency is a compelling business and consumer proposition," says Jake Winebaum, founder and chief executive officer, Brighter.com. "Having two leading venture capital firms, Benchmark and Mayfield Fund supporting Brighter will help us bolster our nationwide presence and transform the way consumers access and pay for their dental care."
The additional capital from Benchmark and Mayfield Fund will fund a number of key business growth initiatives including consumer marketing and the continued development of Brighter's network of 25,000 dentists.
"Closely watching Brighter over the past three months and seeing how consumers and dentists are responding, it is clear there is an overwhelming demand for its service," says Bill Gurley partner, Benchmark Capital. "We are thrilled to back Jake Winebaum and his team, and to invest in a company that is solving a very real and big healthcare problem in a unique and powerful way."
Benchmark Capital had a successful investment in Winebaum's last startup, Business.com, and has invested in a number of other highly successful companies including eBay, Twitter, OpenTable, Zillow, and Yelp, among others.
This round of funding comes after a seed funding in January 2010 and Series A funding of $5M in December 2010, both led by Mayfield Fund.
"Watching Brighter evolve from our seed investment almost 18 months ago to this stage has been a testament to Jake's vision and tenacity in creating a true marketplace for dental care," said Navin Chaddha, managing director, Mayfield Fund. "We look forward to our continued partnership as Brighter becomes established as the transparent and affordable dental care resource for consumers."
For more information on Brighter, please visit www.Brighter.com
Brighter makes quality dental care affordable to the 50 percent of Americans without dental insurance. Dental costs and dental insurance premiums have risen so fast that the majority of the population cannot afford to go to the dentist for the preventative and restorative care that they need. Brighter.com is the first website that allows consumers to compare dentists by reputation and by price. Patients can see the true cost of dental procedures before they visit the dentist, and with Brighter's network of 25,000 dentists nationwide, Brighter members can save 20 percent-60 percent on all their dental procedures.
About Benchmark Capital
Benchmark Capital was founded in 1995 to help talented entrepreneurs build great technology companies. Benchmark's partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes franchise companies such as eBay and Shopping.com, Equinix, JAMDAT, Juniper Networks, Red Hat, and ZipRealty. Managing more than $3 billion in committed venture capital, Benchmark focuses on investing in entrepreneurs with original ideas. For more information on Benchmark, visit its website at www.benchmark.com.
About Mayfield Fund
Mayfield Fund invests in relationships with entrepreneurs, institutions, and the community to transform bold ideas into industry-leading companies. With $2.7 billion under management, Mayfield invests primarily in early stage U.S. companies in the Enterprise, Consumer, Energytech, Semiconductor and Telecom sectors. The firm fosters global entrepreneurship by investing in India-based companies through its Mayfield India fund and in China-based companies with its partner GSR Ventures. Over its 42 year history, the firm has invested in more than 500 companies resulting in over 100 IPOs and more than 100 mergers or acquisitions. Notable investments include 3PAR (acquired by Hewlett Packard), Compaq, Genentech, Redback Networks, Sandisk, Slide (acquired by Google), TIBCO, and privately-held Solarcity.
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