Flossy Raises 14.7M to Expand Oral Care Accessibility

New dental startup founded in 2020, Flossy, has closed a $14.7 million Series A round led by TTV Capital, with participation from Slow Ventures, 8VC, Clocktower Technology Ventures, and SV Angel, as well as the founders of Carbon Health, Flatiron Health, Modern Animal, FabFitFun, GOAT, Tradesy, and others.

With Flossy’s latest round, it has raised $17.8 million in total. The company, which was founded by serial healthcare entrepreneurs Miles Beckett and Steve Seigel, is currently operating in Arizona, New Mexico, and Michigan. 

Related article: Saudi Arabia to Invest $3.4 Billion in Latest Push to Develop Biotechnology Presence

The First “Pay-As-You-Go Discount Dental Solution”

With the slogan to bring “high quality, affordable dental care to everyone”, Flossy connects patients to highly rated dentists at an affordable price, with discounts of up to 50%. While health care quality need not be sacrificed as it only accepts the top 20% of dentists from its dental network partners.

Patients can see each dentist’s discounted pricing structure with Flossy and book their appointments online. On the other hand, dentists can receive payment for their services from Flossy in 15 days, outpacing the standard 60-90 day payout that they receive from dental insurance companies. These services offered a win-win solution for both parties.

Dental Care Revolution in the US

Access to dental care has long been a pain point for millions of Americans. 

94% of adults planned to visit the dentist this year, reflecting pent-up demand due to deferred maintenance during the pandemic, according to a survey conducted by Delta Dental Plans Association in March 2022.

While 91% of people in the US have health insurance to pay for healthcare expenses, 28 million of them remain uninsured, while an estimated 76 million Americans have no dental insurance.

The situation is even worse for older Americans. Nearly half of them on Medicare have no dental coverage and the same proportion report not having had a dental visit in the past year. It is indisputable that dental care is always the first to be sacrificed when deductibles and copays cover far less than expected.

With the fund’s inflow, Flossy planned to broaden its footprint, expanding from Arizona, New Mexico, and Michigan across the Midwest and into the Northeast. Ultimately, they hope to operate nationwide to give everyone, especially the uninsured and underserved, free accessibility to high-quality dental care.

Author

Nai Ye Yeat

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