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In October 2018, SmileDirectClub raised $380 million in an investment round led by Clayton, Dubilier & Rice and Kleiner Perkins, for a $3.2 billion valuation according to Bloomberg. SmileDirectClub was initially funded by Camelot Venture Group. NBA player Draymond Green was an early investor in the company, investing in 2015, after personally using its products.
The company expanded into Canada in November 2018, and expanded into the UK and Australia in 2019.
In April 2019, CVS announced that the company would add SmileDirectClub locations to hundreds of CVS stores. In May 2019, HP and SmileDirectClub announced a partnership to produce over 20 million 3D-printed molds over the following year.
In August 2019, the company filed S-1 paperwork to go public.
On September 12 2019, the company went public by offering initial shares at $23, above the expected price of $19-$22 per share. SDC's IPO opened at $20.55 and closed at $16.67 after the first day, a 28% loss from the initial shares offering. After the loss, the CFO of the company has stated that the focus of the company will remain the same despite market evaluations.