Candid, a tooth straightening company, raised $63.4 million in a Series B funding round. This brings the startup’s total cash funding to $90 million.
With the capital, Candid plans to double its workforce from 275 to 550 employees and open another studio. Candid also wants to use the funding to develop new products.
“We will be launching a couple of new products within the clear aligner space and possibly outside of it,” Candid CEO Nick Greenfield told TechCruncher.
Candid’s modeling kit costs $95 and aligners cost $1,900. Braces from the company can cost up to $7,000.
Another startup, SmileDirect, plans to file for an initial public offering. SmileDirect is one of Candid’s competitors. In October, SmileDirect had a $380 million investment, putting the startup at a $3.2 billion valuation.
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