HONG KONG, June 1, 2021 /PRNewswire/ -- L Catterton, the largest global consumer-focused private equity firm, today announced that it has invested $25 million in Zenyum, one of Asia's fastest growing direct-to-consumer dental products brands. Existing Zenyum investors, including Sequoia Capital India, RTP Global, Partech, TNB Aura, Seeds Capital, and FEBE Ventures, also participated in the Series B round, which totaled $40 million.
Zenyum
Since its founding in 2018 Singapore, and in 2019 in Hong Kong, Zenyum has grown exponentially, seeing a 4x revenue increase in 2020 alone. Having recently launched ZenyumClear™ Plus, its most advanced solution to treat complex teeth alignment problems, Zenyum is well-positioned to benefit from structural tailwinds in the affordable dental cosmetics category in Hong Kong and across Asia. Together with ZenyumClear™ Plus, ZenyumClear™ aligners and ZenyumSonic™ electric toothbrushes all receive best-in-class customer satisfaction scores.
With its proprietary technology stack and seamless integration of its local dental network in Hong Kong, Zenyum works hand-in-hand with Hong Kong licensed dentists to make better smiles accessible in Hong Kong through a professional, safe, and personalized process. Every patient has an in-person consultation with a Hong Kong licensed dentist from Zenyum's network of local dentists who will conduct a thorough examination, as well as an X-Ray and 3D scan, in order to thoroughly check on patient's oral health before proceeding with treatment, and develop a treatment plan specifically customized to each patient's needs. Zenyum's app provides patients with monitoring and guidance throughout the process, and serves as a touchpoint for patients during their Clear Aligner journey, ultimately reducing chair time in clinics.
"Fueled by aesthetic-conscious millennials, the affordable dental cosmetics market in Asia is growing rapidly, and Zenyum has the potential to become the regional champion in this category," said Anjana Sasidharan, Head of Growth Investments for L Catterton Asia, who will be joining the company's board. "Zenyum's differentiated business model gives it a strong competitive advantage, and we are excited to partner with the founder management team to help them realize their growth ambitions."
"The team at Zenyum looks forward to working with L Catterton, leveraging the firm's global expertise in brand-building as we aim to become the leading Smile Cosmetics business in the region," said Julian Artope, Co-Founder and CEO of Zenyum. "With this investment, we can accelerate expansion across Asia, deepen our range of products, and further develop our technology stack to be a true partner to dentists while building a category-defining company."
"As Hong Kongers, we greatly value and respect the craft of dentistry, that is why dentists are at the heart of everything we do at Zenyum. We believe that no orthodontic treatment should ever be issued without a doctor's personal supervision so a vital part of our Zenyum journey is the in-person consultation and check-up reviews with hundreds of local dentists across all our markets. We make the smile journey easier for our customers by using proprietary tech to minimise inefficiencies in the typical invisible aligner treatment process and also helps dentists optimise their chair time and digitise their clinic practice. I believe in the long-run as we continue to listen for feedback with local dentists and patients, we can continue to improve and build a cohesive platform that provides more accessible smiles to Hong Kongers" said Steven Wu, Managing Director of Zenyum Hong Kong.
L Catterton has significant experience investing globally in the dental and consumer health space. Current and past investments in this space include Ideal Image, ClearChoice, dentalcorp, OdontoCompany, Espaçolaser, and 98point6.
About L Catterton
With over $27 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit www.lcatterton.com.
About Zenyum
Zenyum is the newest innovation in Smile Cosmetics. Zenyum believes everyone deserves a better smile so they channel tech and innovation to evolve the dental category and create products and experiences that spread smiles across Asia. Founded in 2018 in Singapore, and 2019 in Hong Kong, the start-up partners with hundreds of dentists to provide 3D-printed Invisible Braces across seven markets in Asia, produced under the highest quality standards.
