Digital dental marketing firm picks up $100M in funding

A Clearwater-based digital marketing firm for dentists, Progressive Dental Marketing, has received $100 million in recapitalization funding from Nebraska-based McCarthy Capital. 

The funding, according to a statement, will fuel Progressive Dental’s next phase of growth — domestically and internationally. Progressive Dental is a full-service sales training, continuing education and specialty marketing services provider to dental practices. It specializes in helping practices both acquire and convert single, multi, and full-arch dental implant cases, according to a statement.  

The firm, actively working with more than 1,000 dental practices, has partnered with McCarthy Capital in the past, the release states, “to accelerate its growth plans.”

Bart Knellinger, a Business Observer 40 under 40 winner in 2015, founded Progressive Dental in 2009. The company has grown exponentially in recent years, the release states, and surpassed $60 million in revenue in 2023.

“Over the past 15 years, our creative and collaborative marketing experts have made it possible for dental practices to achieve their goals," Knellinger says in the release. “We’ve partnered with McCarthy Capital to bring our proven model for success to many more dental practices, and in turn, patients who are in need of high-quality care.”

Omaha-based McCarthy Capital is focused exclusively on lower middle-market companies, the release states. Portfolio companies include Omaha Steaks, Scooter’s Coffee and Wellness Living. 

"We’re excited to partner with an industry-leading provider of sales and marketing training for dentists," McCarthy Capital Partner Phil Dudley says in the release. “Together, we’ll accelerate Progressive Dental’s growth trajectory through international expansion and accretive acquisitions.”

DLA Piper led the legal advisory for McCarthy Capital. Hill Ward Henderson served as legal counsel to Progressive Dental Marketing.