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$3.2 billion teeth-straightening company SmileDirectClub is going public. Here are the investors who stand to make the most.

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Smile Direct Club brighteningHollis Johnson/Business Insider

  • SmileDirectClub, a company that provides clear aligners, on Friday filed paperwork with the US Securities and Exchange Commission to go public.
  • The company most recently had a private valuation of $3.2 billion.
  • Here are the top investors in SmileDirectClub, including CEO David Katzman and co-founders Jordan Katzman and Alex Fenkell.
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When SmileDirectClub goes public, it could give a number of investors a reason to grin.

The company filed paperwork with the US Securities and Exchange Commission for its IPO on Friday. According to the filing, the company is seeking to raise $100 million, though that’s a placeholder amount that can change.

SmileDirectClub is a startup that provides clear aligners for teeth. While it typically costs anywhere from $3,000 to $7,000 to get traditional braces or Invisalign-brand aligners, SmileDirectClub goes for a fraction of that — you can either pay $1,895 up front, or a total of $2,290 total spread out over two years.

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The idea behind SmileDirectClub is to make straightening teeth more affordable by cutting out the steps of going in-person to a dentist or orthodontist to get braces or other alignments. The company was started by Alex Fenkell and Jordan Katzman in 2014.

In October 2018, SmileDirectClub raised $380 million from private equity firm Clayton, Dubilier & Rice as well as venture firms Kleiner Perkins and Spark Capital. The round valued the company at $3.2 billion— up from $275 million just two years earlier.

In its filing, SmileDirectClub listed out the top shareholders in the company, though it didn’t break down how big of a stake each investor has. These are SmileDirectClub’s top investors:

  • David Katzman, 59, is chairman and CEO of SmileDirectClub. Katzman is the largest shareholder in SmileDirectClub, and the filing noted that at the completion of the offering, he will control a majority of the voting shares of the company. Katzman is the founder and managing partner of Detroit-area-based Camelot Venture Group, which has invested in Quicken Loans, Sharper Image, and 1-800 Contacts. Katzman is the father of co-founder Jordan Katzman.
  • Jordan Katzman, 29, is a co-founder of SmileDirectClub and a director on its board.
  • Alex Fenkell, 30, is a co-founder of SmileDirectClub and a director on its board. (The two met at summer camp)
  • Steven Katzman, 56, is SmileDirectClub’s chief operating officer and a member of the board. Steven Katzman is an adviser to Camelot, and is David Katzman’s brother.
  • Rick Schnall, 49, is a member of SmileDirectClub’s board and a partner at Clayton, Dubilier & Rice, which led SmileDirectClub’s $380 million round. 
  • Kyle Wailes, 35, is SmileDirectClub’s chief financial officer. He joined the company in May 2018 after working at Intermedix, a billing technology company. 
  • Susan Greenspon Rammelt, 54, is SmileDirectClub’s general counsel secretary and a member of the board. Greenspon Rammelt also serves as Camelot’s general counsel. 

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