Quip Raises $40M, Introduces Professional Service
Oral health company Quip has announced a $40m venture round of funding through a combo of equity and debt financing; bringing the company’s total funding to date to ~$60m.
Launched in late 2015, Quip has sold over 1m of its electric toothbrushes through its site and in October, it expanded into an omni-channel approach through a nationwide launch into Target. File under – ‘online-first, offline-second, Amazon-style’.
“My co-founder Bill May and I built quip with the vision to create a full-service oral care platform that serves every oral care need, from the products our members use everyday, to the professional care services they require at least twice a year. We’ve been working closely with our full time dental professional staff and ever expanding provider network to make the full range of dental products and professional care services more simple, accessible and enjoyable to more people. Our momentum is extremely strong, and this additional funding will allow us to further scale the business while investing more into growing our operations and talented team.” – CEO and Cofounder of Quip, Simon Enever.
Last, this week Quip has introduced a B2B2C model called “Practice program”, to allow providers who join the network a way to offer Quip products and subscription services at their practice as a means to attract and retain new patients.