Noble Dentist Limited was one of our most exciting projects in 2012. The Company operated a dental plan business and had already achieved good traction levels with 20,000 paying members and 500 registered dentists. The penetration level was particularly impressive – there are only 5,000 dentists in Australia and Noble Dentist had penetrated 10% of that market. The Company’s business model involved annual customer subscriptions which made it scalable and potentially extremely profitable. However the business itself was only making a small profit. The owners needed to raise $1 million to market their story and also tighten up their IT backend.
Our result - $1 million raised in three months on a post money valuation of $14,693,755 via the ASSOB platform making it the fastest company to reach $1 million raised during that year.