Gund Foundation
1660 West 2nd Street, Suite 900, Cleveland, OH, 44113, United States
Overview
George Gund Foundation is a nonprofit foundation that focuses on art, economic development, and community revitalization, education, environment, and human services. The foundation's sole purpose is to contribute towards human well-being and the progress of society. The foundation was established in 1952 and is headquartered in Cleveland, Ohio.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 1
Investment portfolio
- Convergent Dental
Participated · Series C · Nov 2021
Convergent Dental’s flagship product, Solea®, is an FDA-cleared all-tissue CO2 dental laser that enables anesthesia-free, blood-free, and suture-free procedures. The company positions Solea as a technology that improves efficiency, patient experience, and clinical outcomes while enabling new procedures and increased patient flow. Convergent pairs the laser technology with success support to help dentists adopt and integrate the device into practice workflows. The company announced a new financing package to accelerate broad-based adoption of Solea and to support profitable growth. Management stated the capital infusion is expected to fully finance the company to profitable growth and beyond. Convergent Dental is privately owned and is based in Waltham, Mass. Convergent Dental develops the Solea all-tissue laser, which enables virtually any cavity to be treated without anesthesia and allows soft-tissue surgeries with little to no anesthesia, bleeding, or sutures. The company also recently launched Solea Sleep, a painless, non-surgical 5-minute treatment for snoring that tightens soft-palate tissue. Convergent is led by CEO Michael Cataldo and is based in Needham, MA. It raised capital to expand its product portfolio and increase investment in market development. The company’s current financing activity indicates a focus on commercial and market expansion rather than disclosed operating metrics. Convergent Dental develops Solea, the world’s first computer-aided CO2 laser system (9.3 micron) cleared by the FDA for both hard and soft tissue dental procedures. Solea enables virtually anesthesia-free and blood-free procedures, delivering a quieter, faster, and more precise experience than traditional dental tools. The product is gaining traction in the dental community, with Solea sales nearly doubling in Q4 2014 as practitioners adopted the technology. Many Solea dentists report performing six or more additional procedures per day, representing revenue gains of 25–40 percent for practices. Convergent plans to invest in continued product innovation, sales, and implementation to scale with growing market demand. The company is privately managed and positions Solea as a tool that improves patient experience while providing a compelling ROI for dentists. Convergent Dental is a privately held dental device and technology company that develops Solea, the world’s first computer-aided CO2 laser cleared by the FDA for both hard and soft tissue procedures. Solea uses a unique 9.3 µm wavelength that, according to academic research cited by the company, can cut enamel without patients experiencing pain; Solea dentists report that 95% of procedures are performed without anesthesia. The system is designed to replace drills and needles for a majority of dental procedures, aiming to reduce patient fear and increase access to oral healthcare. The device features a familiar foot pedal and handpiece similar to traditional drills, enabling clinicians to become proficient after one day of training, plus a touchscreen and computer controls that optimize the beam for tissue type. Convergent Dental is based in Natick, Massachusetts, and is positioning the company for rapid commercial growth as dentists adopt Solea. Convergent Dental, based in Natick, Mass., develops Solea, a computer-aided 9.3µm CO2 dental laser system cleared by the FDA for both hard- and soft-tissue use in the oral cavity. Solea is the first 9.3µm CO2 CAP dental laser cleared for hard tissue indications and builds on an earlier soft-tissue clearance. The system uses pulsed energy, patented technologies, computer-controlled mirrors that move 10,000 times per second, and a variable-speed foot pedal to enable fast, precise, virtually silent and vibration-free cutting. Convergent positions Solea as capable of replacing drills and needles for a vast majority of procedures and says it cuts faster and more precisely than erbium and other CO2 soft-tissue lasers. An external dental researcher quoted in the announcement said research indicates Solea’s wavelength can deliver about six times faster cutting speed versus erbium lasers. The company says the recent FDA clearance and its technology will set a new standard for speed and precision in dental hard- and soft-tissue procedures. Convergent also announced completed funding rounds to support continued product research, development, and market growth.
Team
Alesha Washington
Program Director, Vibrant Neighborhoods and Inclusive Economy
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