tab32, a cloud-based, full-service technology platform, has announced closing a Series B round led by Spark Growth Ventures, a technology VC firm “on a mission to support gritty and exceptional founders.” According to a statement, the fundraising round is the culmination of five consecutive years of 100% year-on-year growth, including two straight years of profitable operations, and comes on the heels of tab32 signing several national dental service organizations (DSOs) as clients.
“It’s rare to see a startup achieve rapid and consistent organic growth while maintaining profitability, and tab32 is a true stand-out among the businesses we’ve had the opportunity to partner with,” said Hem Suri, Founder and Managing Partner of Spark Growth Ventures. “Kiltesh and the tab32 team are pioneers in the dental technology world, which can greatly benefit from cutting-edge digital innovations to drive material improvements in not only patient care but also the business performance of dental practices. We’re excited to be doubling down on our partnership with tab32 as they enter a new phase of rapid growth.”
“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. “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.”
The new funding will enable tab32, which currently has 65 employees, to double its headcount across its offices in the United States and India. The company will also continue to invest in R&D to optimize and build out its AI infrastructure for dental intelligence.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.