Los Angeles, California - August 17, 2010 - 1-800-DENTIST® announced today that it recently completed a financing transaction with Boston-based firms Cue Ball Capital and Bain Capital Ventures. The investment partnership and process started earlier last year when Fred Joyal, one of the founders of 1-800-DENTIST®, was discussing his business with fellow University of Rhode Island alumnus and former CEO of The Thomson Corporation, Richard Harrington, who is now a general partner in Cue Ball.
"We saw 1-800-DENTIST® as completely aligned with Cue Ball's investment strategy," Harrington says. "A great brand, a strong team and an attractive business model with tremendous growth potential."
"As the leader in providing marketing services for dentists, we see the opportunity to take our company to a whole new level, and our new investment partners will accelerate that process," Joyal said. 1-800-DENTIST® is a nationwide dentist referral service, with a 24/7 live call center operating in Los Angeles. The company will celebrate its 25th year in business in 2011 and is the most recognized brand name in dentistry.
"We wanted to find investment partners with a high level of expertise and a growth philosophy similar to ours," says Gregg Coccari, CEO of 1-800-DENTIST®. "We have a unique culture here, and we found that both Bain and Cue Ball were a perfect fit."
Cue Ball has a unique approach to investing with their committed capital pool coming from seasoned executives who actively participate in advising their portfolio companies, while Bain Capital is one of the most respected investment firms in the country, with a powerful team of advisors and consultants.
Post-transaction, the company immediately acquired Dental SendersTM, which is a patient marketing and digital communications product for dental practices. "This product is completely complementary to our 1-800-DENTIST® service," says Coccari. "This will allow us to offer a complete suite of marketing services to dental practices."
Joining 1-800-DENTIST® as the new Executive Chairman is David Shaffer, a renowned industry leader in information media and an investor member of Cue Ball's collective.
"I think you're going to see amazing things happen very quickly with this company," says Shaffer. "It's great to be part of it."
About Cue Ball Capital
Cue Ball Capital is a Boston-based venture capital firm focused on early stage growth companies with recurring revenue business models and differentiated intellectual property across sectors such as business information services and Internet media and commerce. Cue Ball was founded by a team of proven business builders who seek to support early stage companies with capital, capabilities and relationships through a unique brain trust (The Cue Ball Collective) of leading industry entrepreneurs, executives and thought-leaders. Cue Ball's portfolio includes a mix of business information and consumer service investments including Knovel, Stylesight, Shape Up, The Nation, MiniLuxe, PlanetTran, Epic Burger and Tickets-for-Charity. (http://www.cueball.com/)
About Bain Capital Ventures
Bain Capital Ventures (www.baincapitalventures.com) is the Boston-based venture capital affiliate of Bain Capital, which has approximately $65 billion of assets under management worldwide. Founded in 1984, Bain Capital and its affiliates have made investments in more than 300 companies. The firm's history of investing in early stage companies also dates back to 1984, having made over 125 venture-stage investments since inception including such companies as LinkedIn, Staples, SunGard, DoubleClick, Instinet, SolarWinds, ProfitLogic, Archer Technologies, Shopping.com, Taleo, m-Qube, Aspect Development and Gartner Group. In 2001, Bain Capital Ventures was formed as a separate arm of Bain Capital to focus exclusively on growth investments. Bain Capital Ventures currently has approximately $1.5 billion in assets under management and invests in business services, consumer, healthcare, internet & mobile, and software companies.