With Yabeo Capital, IBB Beteiligungsgesellschaft and Atlantic Labs, the Berlin-based company gains experienced investors
Several angel investors from the insurance industry support the round
The investment is intended to expand the technology, strengthen the team and develop further digital solutions for patients and insurance companies.
Dentolo, Germany’s leading dental technology platform, has completed a seed financing round of three million euros. The Berlin-based Insurtech enables the reduction of service and process costs for dental treatments on the patient and insurance side. The business model of the company led by Julian Benning and Philipp Krause convinced experienced investors with Yabeo Capital (e.g. solarisBank, Clark), IBB Beteiligungsgesellschaft (e.g. Thermondo, Getsurance) and Atlantic Labs (e.g. GoEuro, EyeEm). The seed round is rounded off by industry-famous angel investors from the insurance industry and Axel Springer PnP (including N26). The collected capital will be used to expand the technology, strengthen the team and develop and deepen the product portfolio.
“With Dentolo, we have created transparency about the costs of dental treatment complexes within a short period of time and developed a pricing algorithm that today provides measurable added value for patients with an upcoming treatment request and leading insurers. For us, the seed round with industry experts confirms that we are at the right place and enables us to sustainably improve dentistry for the benefit of patients,” explains Julian Benning, co-founder and CEO of Dentolo.
The technology company (www.dentolo.de), which has been growing rapidly since it entered the market in April 2016, is already working with more than 300 dental partners throughout Germany and consists of a team of IT experts, dentists and experienced people from the digital economy.
“Dentolo’s platform approach, the unique pricing technology, the rapid development of the dentist network and the team have convinced us of the company’s potential. Dentolo is well positioned to become an important digitization partner for an entire industry,” said Matthias Sohler, Managing Director of Yabeo Capital.
Leading insurers rely on technology from Dentolo
As a Dentolo partner, insurers benefit from the proprietary pricing algorithm and their own service provider network, significant efficiency gains in the service area and measurably improved customer satisfaction. Several leading insurance companies are already using the platform. Dentolo’s technology can reduce an insurer’s annual claims expenditure by up to 20 percent. According to a study by KPMG, an auditing firm, around 28 billion euros were spent on dental treatment in Germany alone in 2015.
Dentolo’s offer meets great market demand
Dentolo makes its existing solutions, pricing technology and the dentist network available to patients as well as insurance companies. The offer meets a high demand. “Dentolo’s traction, with over 15,000 patient enquiries, a volume of around 40 million euros and potential savings of ten million euros discovered over the past twelve months, has impressed us and shows Dentolo’s great development opportunities on the B2C side,” says Christian Seegers, Senior Investment Manager at IBB Beteiligungsgesellschaft. Patients appreciate the added value that Dentolo offers them: They receive an initial cost estimate for their desired treatment and an appointment within a few days with a specialist from the Dentolo quality network who is suitable for their situation.
Dentolo hits the nerve of the times: “Insured people today expect fast results and clear information. Insurers who have recognized this can increase customer satisfaction, reduce costs in their existing business and activate new digital sales channels. Those who act decisively now will be at the forefront of development and gain significant competitive advantages,” said Dr. Johannes-Tobias Lorenz, Director and Leader Digital Insurance Europe at McKinsey.
Experienced team with a clear goal
The Dentolo team currently comprises 25 employees, half of whom focus on IT and development. “We are now placing maximum focus on expanding our technology platform. Over the past 14 months, we have gained a comprehensive picture of the needs of patients and insurers, which we are now translating into innovative solutions for both sides,” explains Philipp Krause, co-founder and CEO of Dentolo.
BU: The two founders and managing directors of Dentolo conclude a financing round of three million euros: Philipp Krause (left) and Julian Benning
Further information can be found here
Source Dentolo Germany GmbH
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