Brighter has raised $21 million in Series D financing led by General Catalyst Partners with participation from DAG Ventures and existing investors, Mayfield, Benchmark and Tenaya. The company will use the funds to expand its staff, and add new capabilities to its platform.
Founded by serial entrepreneur Jake Winebaum in 2011, Brighter’s platform dramatically improves the dental patient experience and outcomes by engaging members with dentists that provide high value care. The Brighter marketplace and Brighter Score empower members with “unprecedented” price, quality and service transparency so that they can maximize the benefits of their dental plan. For example, patients can see as much as 300% price difference among in-network dentists in the same zip code.
On the other hand, Brighter also enables providers to maximize their participation in carrier networks by more efficiently marketing their practices’ services and strengths to new patients and enabling them to stay directly connected with existing patients.
Finally, the service is also beneficial to health insurers and health plans seeking to transform their dental plans by increasing member engagement and satisfaction while reducing costs. These companies can integrate Brighter into their existing benefit plans and digital platforms, and more closely connect their dental benefits to overall population health management strategies.
“We have spent the past five years refining our consumer-centric platform which enables insurance carriers to engage their customers with the level of transparency and digital convenience that consumers have come to expect in every other aspect of their lives,” Jake Winebaum, founder and CEO of Brighter, said in a statement. “With this financing and our carrier partners, we are reaching a scale where we can transform the patient, provider, and payer experience across this large and important dental healthcare sector.”
Cigna, a global health service company, is one of Brighter’s clients. Recently, it announced the launch of Brighter’s software and services to its over 11 million Dental PPO members and 139,000 participating dentists. Brighter will launch its second major carrier partner in early 2017.