Convergent Dental entered into a new credit facility of $40 million with Trinity Capital. Convergent Dental drew $20 million at closing and has the option to draw an additional $20 million, subject to the conditions under the agreement.
Conergent Dental also received $10 million of equity financing led by existing investors Arboretum Ventures and Gund Investment, including $5 million of new equity and $5 million of existing investor notes converted to equity at close.
“This latest infusion of capital will accelerate our vision of driving the broad-based adoption of Solea and is expected to fully finance the company to profitable growth and beyond,” Robert L. Gershon, CEO of Convergent Dental, said.
“We are proud to partner with the Convergent Dental team,” Lauren Cosentino, managing director, life sciences of Trinity, said. “Solea brings exciting innovation to dentistry, allowing doctors to provide pain-free, patient centric care and we look forward to supporting their continued growth.”
Piper Sandler served as financial advisor to Convergent Dental on this transaction.
