Toothio Raises Additional $5M to Address Dental Staffing Shortage

The company also announced expansion to eight additional markets across the U.S., unlocking access to thousands of new dental practices, professionals, and DSOs

PHOENIX, Oct. 30, 2024 /PRNewswire/ -- Toothio, the leading digital staffing marketplace for the dental industry, today announced $5 million in additional financing 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. The capital infusion coincides with Toothio's expansion into several new markets, including Chicago, Los Angeles, San Jose, Portland, Seattle, Baltimore, Charlotte, and Orlando.

Hiring qualified dental hygienists, assistants, and office staff remains a significant challenge for dental offices across the United States. Ninety-five percent of dentists report difficulties recruiting and retaining qualified dental hygienists and office staff. The COVID-19 pandemic further exacerbated the issue, with nearly 4% of dental hygienists leaving the industry altogether. With its on-demand staffing marketplace, Toothio is tackling this crucial labor gap – connecting credentialed dental hygienists, assistants, and receptionists with offices that rely on their essential work.

"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."

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 matches top-rated professionals with open shifts nearby, connecting dental offices with the most skilled staff for their unique needs. With an industry-leading 97% fill rate for open shifts, Toothio is making it easier than ever for dental offices and DSOs to streamline operations and maintain high-quality patient care.

The latest financing and market expansion follows a year of tremendous growth for Toothio, with over 15,000 dental professionals added to the platform in 2024 alone. Since its founding, the company has driven 300% year-over-year growth, filling thousands of open shifts for private practices and DSOs across the U.S.

"Toothio's rapid expansion is a testament to their deep understanding of the dental industry's staffing challenges and their innovative solution. Their work aligns perfectly with nvp capital's healthcare thesis, where we support companies that solve key issues, including access to care. Staffing challenges have been an inhibitor across multiple industries, including dental. With this latest round, we're confident Toothio will continue to scale and set the standard for dental staffing in 2025 and beyond. We're proud to partner with them on this exciting journey," said Vaughn Crowe, Managing Partner at nvp capital.

"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."

Dental offices and professionals can join Toothio by visiting the company's website or downloading the mobile app. To learn more, visit www.toothio.com.

About Toothio
Founded in 2021, Toothio's mission is to alleviate the staffing challenges faced by dentists by providing on-demand access to hygienists and assistants. Toothio's staffing platform enables dental practices to quickly increase office production and better support their patients. Toothio offers dental professionals freedom and flexibility, making it the class-leading labor option for those in the dental industry. For more information about Toothio, visit toothio.com.

Media Contact: Skoglund PR; [email protected]

SOURCE Toothio