Windchime

Windchime is a software-as-a-service (SaaS) platform targeting the $134 billion dental industry.

It’s a mobile app that enables dentists to fill cancellations and open slots in their schedule, and enables patients to book last-minute appointments at a discounted price.

Users can even earn rewards points by booking services through Windchime, points that can be used for discounts toward dental procedures.

The company is led by co-founder and CEO Joseph Storm, who previously co-founded and sold a biomedical company for $165 million to Philips Medical Systems in 2006.

Dental practices are constantly battling cancellations and scheduling gaps, resulting in missed opportunities for additional revenue. In addition, these practices have to spend money on marketing to attract new patients.

Patients, meanwhile, often have trouble making last-minute appointments for emergency dental services. And more than 40% of Americans don’t have dental insurance, making even standard cleanings an expensive out-of-pocket cost.

Windchime offers a solution to these problems. Its open marketplace matches dental practices’ need to fill empty chairs with a patient’s desire for convenience and savings.

Here’s how it works:

Users access the Windchime mobile app to see open dental appointments at nearby dentists. These appointments are available at a discounted price, and can be booked directly through the platform.

Even patients who already have a dentist can book appointments with them through the app to earn discounts and rewards points.

The platform is free for patients, while dental practices pay a $249 monthly subscription fee.

Windchime launched in January 2018 in San Francisco, the company’s initial target area. Nearly two dozen dental practices have registered on the platform, and more than 2,000 consumers have downloaded the app.

It should be noted that these dental practices registered under a pilot launch, and the company is still pre-revenue.

Windchime received an investment from Mike Gregoire, CEO of CA Technologies (NASDAQ: CA), a global software company with an $18 billion market cap.

By targeting the San Francisco Bay Area, Windchime aims to attract 6,000 dental practices to start. The company projects to have 16,000 practices on the platform by 2022, and believes it will break even when it reaches between 375 and 400 practices.

Windchime will acquire dental practices through direct sales and by attending local trade shows. During the pilot launch, the company’s cost to acquire each practice was less than $5, and it believes those costs will go down as the platform gains traction.

With funds raised, Windchime will increase spending in the areas of sales/marketing, product development, and staffing.

The company believes its platform design could be used in other areas of the healthcare industry, such as physical therapy and the chiropractor sector.

Windchime’s long-term goal is to be acquired by a large dental service company, or an insurance company.

Team Background

Vivek Dhar - Co-Founder & CTO

Vivek brings significant technical experience to Windchime.

He previously co-founded Wind & Fog, a web development and design company.

For four years, he served as a developer for Wipro Technologies (NYSE: WIT), an IT company generating more than $8 billion in annual revenue.

He previously served as a developer for Shoppable, a company enabling users to purchase products from multiple retailers with a universal checkout system.

For more than five years, he served as a software engineer for Raley’s, a supermarket chain that generated $3.2 billion in revenue in 2016.

Vivek earned a Bachelor’s degree in Computer Science from The University of Texas at Dallas.

Joseph Storm - Co-Founder & CEO

Joseph has more than 30 years of experience working with start-ups and early-stage companies, including those in the healthcare industry.

He previously served as co-founder and Senior Vice President of Sales for Witt Biomedical, which was acquired by Philips Medical Systems in 2006 for $165 million.

In addition, he formerly served as CEO of ComView Corporation, a company focused on researching cardiac imaging. He grew the company to profitability before selling it to Electromed (NYSEAMERICAN: ELMD) in 2001.

Joseph formerly served as a sales representative for Synectics Medical, a medical technology company. While there, he helped grow the business to more than $10 million in sales in a 36-month period.

In addition to his healthcare experience, he served as CEO of Fusion Research, a custom electronics company focused on residential and commercial entertainment products.

He earned a Bachelor’s degree in English and Pre-Law from Wright State University.

Geoff Fleming - VP of Operations

Prior to his time with Windchime, Geoff co-founded Wind & Fog, the web development company, with Windchime co-founder Vivek.

He previously served as Chief Information Officer for Liiv, a health and wellness start-up focused on creating educational content on various chronic health conditions.

Geoff spent nearly a decade as an operations manager for Craigslist, a website where users list jobs, homes, and personal items for sale.

He earned a Bachelor’s degree in Media and Communications from Florida State University.

Co-Investors