There is another marketplace that’s trying to shake up and digitize a traditional market. Torch Dental focuses on helping dentists as buyers and dental suppliers as sellers. It recently raised $28 million in new funding and bringing its total funding to date to $40 million.

The recent round of funding from Health Velocity Capital will “accelerate the digitization of procurement for dental practice.” Among other investors, the following have also contributed to funding:

• Bessemer Venture Partners
• FJ Labs
• Felicis Ventures
• Tectonic Ventures
• Raga Partners
• Town Hall Ventures

Today, dental practices use a mix of pen and paper, phone calls and emails to track and place billions of dollars of annual orders, which vendor sales reps accept and process, says Torch Dental.

But the marketplace already says it is working with about 2,000 dental practitioners to digitize the process by giving dentists and their office managers a new platform to connect with dental suppliers, place and track orders and manage existing supplier relationships. “We’re motivated to help dentists discover, order and pay for everything they need to run their practice,” says Torch co-founder Khaled Boukadoum.

“It’s rare to find an opportunity to accelerate the transition from analog to digital in such a large and important supply chain.”

Sign up

Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan.

Follow us on LinkedIn and be the first to know when we publish Digital Commerce 360 B2B News content.