uLab Systems Secures $18M in Series D Financing Led by Park West
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Jan 27, 2020--
uLab Systems, the creator of the state-of-the-art aligner planning software, has completed an $18M Series D financing round led by Park West Asset Management and supported by minority investors including Ortho Studio Express.
Tony Bartsh, Portfolio Manager at Park West, stated, “The uLab Systems software, as well as their future roadmap, is quite impressive. The software is so powerful that an orthodontist can easily create a treatment plan in as little as 10 minutes. Their vision of the future is even more impressive. We are excited to be a part of the journey.”
uLab Systems has completed a limited launch of the software with over 250 U.S. orthodontists and is planning for a significant launch at the American Association of Orthodontists’ annual meeting in May of this year. Orthodontists who participated in the limited launch have been impressed with the simplicity of the software and the much-needed control it provides them. Many orthodontists have even expanded their treatment offerings through hybrid and combination cases which were previously unattainable due to cost and complexity of working with other aligner companies.
Charlie Wen, President and Chief Technology Officer of uLab, commented, “We are excited about what lies ahead for uLab as we advance the aligner industry to provide better solutions for the orthodontist and the patient. Importantly, we are proud to have a partner in Park West as we work to give control of the treatment plan back to where it belongs – the orthodontist.”
If you would like to learn more about uLab Systems, please visit the website at www.ulabsystems.com.
About uLab Systems
uLab is led by entrepreneurs, technologists, and commercial developers committed to serving the orthodontic community and their patients by giving control back to orthodontists. uLab Systems is located in Redwood City, CA and was founded in 2015 by Charlie Wen and Amir Abolfathi.
About Park West
Park West Asset Management LLC, based in Larkspur, CA, is an investment management firm founded by Peter S. Park in 2002.
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SOURCE: uLab Systems
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PUB: 01/27/2020 11:00 AM/DISC: 01/27/2020 11:01 AM