DURHAM – CureMint, a Triangle-based startup that assists dental organizations with procurement, has raised additional capital through a convertible note aimed at supporting product expansions, said Tobi Walter, partner at Cofounders Capital, an investor in the firm.
And it’s planning to use the funding to add a financial technology component to the current product offering.
The company signed two SEC disclosures recently. The first disclosure noted the nearly $2.2 million the company announced it had raised last October, and the second SEC filing indicates the convertible note of $550,000 in debt financing.
CureMint co-founder Brandon McCarty told WRAL TechWire that with the funding in place, the company expects to triple in size within 18 months, and is planning to hire to do so.
“Funding will be used to accelerate our product roadmap into the fintech space,” said McCarty. “We are actively hiring senior engineers, product managers, and product marketers. We would love for them to be local as most of our team is, but we do cast a net across the country.”
McCarty described the company in a Q&A interview published by DSOPro in this way: “We consider ourselves a procure-to-pay solution. We manage procurement and accounts payable. Our product allows dental organizations to have one central place to place orders. And then we provide proactive spend-management controls over that for the leadership or management team.”
In an interview with WRAL TechWire earlier this week, McCarty noted that the company is an “all-in-one spend management tool targeting the small to medium sized dental organizations,” adding that the firm is a SaaS-based product that will be adding the financial technology component into its current business model.
Software startup CureMint focusing on dental practices lands $2.2M in new funding
Triangle appealing, but there are concerns
McCarty moved the company to the Triangle due to the region’s balance between family-friendliness and its entrepreneurial ecosystem, he told WRAL TechWire in an interview this week.
It was also important to McCarty to locate the startup in a location that offered good proximity, low cost of living, and a potential wide pool of highly educated, talented workers.
Now, the company plans to hire, including for positions that could be based in the Triangle. But he told WRAL TechWire that the talent pool in the region, locally, is still geared very much toward what he called “corporate and safe jobs.”
“It would be great to see a lot more tech talent that valued experience and the startup journey,” he added. Still, the strength of the entrepreneurial community and the resources available for founders in the region are one of the main strengths, and ranked highly among the criteria for deciding to move to the region, he said.
The startup is hiring software engineers, which can be based remotely, according to its website.
