Singapore-based dental product brand Zenyum has raised $40 million in Series B funding led by L Catterton, according to a company announcement.
The round was joined by existing investors Sequoia Capital India, RTP Global, Partech, TNB Aura, Seeds Capital, and FEBE Ventures. Zenyum was part of the inaugural cohort of Surge, an initiative by Sequoia India. It last raised $16.5 million in its Series A round in 2019.
According to the statement, the fund proceeds will be used to accelerate Zenyum’s expansion across Asia, deepen its range of products, and develop its technology stack to be a partner to dentists in the region.
Zenyum added that the firm has quadrupled its revenue in 2020 alone. Since its inception in 2018, Zenyum has expanded its in-house product line to also offer electric toothbrushes and whitening gel, beyond its 3D printed invisible braces, its core product.
The Asian direct-to-consumer brand is also present in Singapore, Malaysia, Indonesia, Hong Kong, Macau, Vietnam, Thailand and Taiwan, with plans to enter new markets soon.
It manages a network of dental partners across the region to offer more personalised in-person consultation services to addressing needs like X-Ray, 3D teeth scans. Its app also serves as a touchpoint with its patients, providing them with monitoring and guidance throughout the process with its dentist partners.
“Fueled by aesthetic-conscious millennials, the affordable dental cosmetics market in Asia is growing rapidly, and Zenyum has the potential to become the regional champion in this category,” said Anjana Sasidharan, Head of Growth Investments for L Catterton Asia, who will join the company’s board.
L Catterton is one of the world’s largest consumer-focused private equity firms, boasting over $27 billion in capital across its global funds. It has made several investments in the dental and consumer health space as well, including names such as Ideal Image, ClearChoice, dentalcorp, OdontoCompany, Espaçolaser, and 98point6.
“The team at Zenyum looks forward to working with L Catterton, leveraging the firm’s global expertise in brand-building as we aim to become the leading Smile Cosmetics business in the region,” said Julian Artope, co-founder and CEO of Zenyum.