Dentalxchange.com Raised $16 Million in Second Round Financing.Business Editors and High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--April 20, 2000 Dentalxchange.com, a leading provider of Internet-based tools and e-commerce solutions for the dental community, Thursday announced that it has raised $16 million in new equity capital. This round of financing was led by J.H. Whitney & Co. and Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. . This is the second round of capital funding for dentalxchange.com. In September 1999 Bessemer was joined with InterDent (DENT), the largest provider of dental management services in the United States, in dentalxchange.com's first-round financing of $5 million. "We have been very pleased with the progress the company has made in extending their market leadership position since our initial investment," said Gautam Prakash, partner at Bessemer Venture Partners. "Dentalxchange.com has a significant first mover advantage and is uniquely positioned to deliver the full set of tools required by dentists to improve their practices." Joining the dentalxchange.com board of directors will be Jeffrey R. Jay, M.D., general partner of J.H. Whitney and Co. "We are extremely impressed with the strong team that has been built and the wealth of expertise and momentum the company has gained. J.H. Whitney saw this as an exciting opportunity to partner with the clear leader in the B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business dental market," said Jay. With more than 10,000 registered dentists, dentalxchange.com is the leading destination on the Internet for dentists and their staffs. The company will be launching their B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. offering for the online procurement of dental supplies later this month and has already gained commitments for more than $14 million in order flow. In addition, the company will also be adding their Practice Management and Connectivity solutions to the site. "With J.H. Whitney and Bessemer, we have selected strategic partners that can help us grow our business and execute our strategy," said Steve Brewer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of dentalxchange.com. "Both of these firms have an established track record of adding real value to the companies in which they invest. "We are thrilled to have them on our team and we look forward to continuing our mission of providing the highest quality Internet-based services to all of our customers." Founded in 1994, dentalxchange.com is the dental community's No. 1 destination point on the Internet, bringing dentists, manufacturers, suppliers, healthcare providers and patients together to educate, evaluate and integrate the dental community and its resources. Online services and offerings include shopping for products and supplies, continuing education classes, practice management tools and solutions, Web site development and hosting for dentists, dental directory, job board, online community and the latest news and articles. Bessemer Venture Partners is a private venture capital management firm focused on early-stage investments in communications and e-commerce. The firm carries on one of the longest-standing venture capital activities in the country with a portfolio of early-stage investments including many of the Internet's top brands, including eToys; HotJobs.com; and Mindspring; as well as some of the hottest start-ups, including E-Steel, net.Genesis and Productopia. Established industry leaders such as Ciena, Parametric, QED QED abbr. Latin quod erat demonstrandum (which was to be demonstrated) QED which was to be shown or proved [Latin quod erat demonstrandum] Noun 1. , Staples and Veritas were all funded by BVP BVP bovine viral papillomatosis. . The firm invests $200 million annually from its offices in Menlo Park, Calif.; Wellesley Hills, Mass.; and Larchmont, N.Y. J.H. Whitney & Co. is one of the oldest venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] in the world, founded in 1946. Today, J.H. Whitney manages more than $4 billion of capital for a select group of prestigious limited partners. Whitney has partnered with more than 400 management teams in a broad range of industries and the firm's investments have helped several businesses grow into major corporations. J.H. Whitney is a leading investor in technology globally, with recent investments in companies such as Usinternetworking (Nasdaq: USIX USIX USinternetworking, Inc. (stock symbol) ), HomeStore.com (Nasdaq: HOMS), Media Metrix (Nasdaq: MMIX), Kana Communications (Nasdaq: KANA) and Fogdog fog·dog n. A bright or clear spot that appears in breaking fog. [From the fact that it accompanies fog as a dog accompanies its owner.] .com (Nasdaq: FOGD FOGD Fibroscopie Oeso-Gastro-Duodenale (French: gastro-duodenal fibroscopy) ) and previous investments in Compaq (NYSE NYSE See: New York Stock Exchange : CPQ CPQ Compaq CPQ Conseil du Patronat du Québec (Canada) CPQ Configure-Price-Quote CPQ Conseil de Presse du Québec (Québec Press Council, Canada) CPQ Companion Parrot Quarterly ) and Bay Networks (NYSE: NT). The firm has offices in Stamford, New York, Boston, San Francisco, London, Tokyo and Hong Kong. For additional information, visit the J.H. Whitney & Co. Web site at www.jhwhitney.com. |
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