Funding profile · Orthodontic software and manufacturing

ArchForm

One Form D, filed in April 2020 for $7,842,080 fully sold to 15 investors, and nothing under Regulation D since. The capital record is short, closed and free of named funds.

$7.84MOffered and sold, the only Form D on record
15Investors in that offering, about $523,000 each
$0Left unsold when the notice was filed
2,360Days since the last Regulation D filing

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Winter 2018 Y Combinator batch Not disclosed Y Combinator YC data
Feb 24, 2020 Equity offering, Rule 506(b), first sale $7,842,080 offered 15, none named Form D
Apr 6, 2020 Form D filed, offering closed $7,842,080 sold, $0 remaining Same 15 Form D
Oct 2020 Aligner factory opened in California Not disclosed Not disclosed Trade press
2020 to 2026 Any later round Nothing on file Nothing on file Not found

What the filings show

ArchForm Inc. · Form D · filed Apr 6, 2020

First sale
Feb 24, 2020
Offered
$7,842,080 equity
Sold
$7,842,080 · $0 remaining
Investors
15 · average about $522,805
Minimum investment
$0 · no non-accredited investors
Exemption
Rule 506(b)
Sales compensation
None reported · finders fees $0 · $0 of proceeds to officers
Issuer
Delaware corporation, principal place of business San Mateo, CA
Self-reported industry
Other Technology · revenue range: decline to disclose
Related persons
Andrew Martz (executive officer, director), San Mateo CA; Michael Terrill (director), Oostburg WI
Filing
SEC EDGAR, CIK 0001807066, accession 0001807066-20-000001

Reading the filings

  1. The checks were large and few.$7,842,080 across 15 investors is about $522,805 each. That is fund-sized or large-angel-sized money, not a crowd. Fifteen is also small enough that a single lead could account for most of it.
  2. The number is the tell.Offered equals sold exactly, at an odd figure, with $0 remaining. Issuers filing mid-round post a target such as $8,000,000 and report a partial. A notice sized to the penny of what was already collected is a filing made after the round closed.
  3. It was filed late.First sale was February 24, 2020; the notice landed April 6, 42 days later, against the 15 days Rule 503 asks for. Late Form Ds are common and nothing in the record suggests a consequence, but it is another sign of cleanup rather than a starting gun.
  4. No fund appears anywhere on the form.Two related persons are listed: founder Andrew Martz as executive officer and director, and Michael Terrill of Oostburg, Wisconsin as a director. A priced round this size usually seats a partner from the lead fund. No institution is named here, and no round announcement has surfaced in the trade press to fill the gap.
  5. The issuer did not call itself a health care company.ArchForm selected Other Technology as its industry group and declined to disclose revenue. Twenty months later the same entity took a Class II clearance from FDA’s dental panel. Anyone screening EDGAR by health care code would have missed this round.
  6. Six and a half years of silence.2,360 days have passed with no further Regulation D notice. Three readings fit: no new outside capital, capital raised under Section 4(a)(2), which requires no notice, or revenue doing the work. List prices are $50 per patient and $17 per aligner, against a claim of more than 7 million aligners made.

Commercial signals

Signal Detail Source type
Regulatory 510(k) K213916, cleared Dec 16, 2021 by third party review. Class II, 21 CFR 872.5470, product code PNN. No clearance on record for a finished aligner, a resin or the direct print hardware. Public record
Marketing versus record The direct print page describes its hardware as “a validated part of the FDA approval”. The company holds a clearance, not an approval, and that clearance covers software. Differs from the record
Pricing $50 per patient to export, $17 per factory-made aligner, $220 per setup, $899 or $999 per patient bundled with setups and refinements. Company-stated
Manufacturing Factory opened October 2020 with SLA and DLP printers, robotic trimming, up to 1,200 models a day and 10 to 14 day shipping. Trade press
Scale claim More than 7 million aligners made and more than $300 million saved, the saving footnoted as an average price comparison against one unnamed competitor. Company-stated
Market size per doctor Average US clear aligner fee was $6,301 in 2025 across 87 starts per orthodontist. The incumbent’s charge to the doctor was reported at about $1,700. Independent

What to watch

  • A Form D for any round after April 2020. None in six years.
  • A 510(k) covering the direct print aligner system, its resin or its curing hardware.
  • Whether the direct print page is corrected from approval to clearance.
  • Any named institutional investor. None appears on the only filing.

The ArchForm story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Perceptive Technologies: Also in Medical Devices. A handheld scanner that sees inside a tooth with infrared light instead of X-rays, and a robot arm that cuts the tooth
  • Standard Cyborg: Also in Medical Devices. A Y Combinator startup that printed shower legs for amputees, became the software prosthetists used to design sockets, then became a computer vision SDK
  • Morphle Labs: Also in Medical Devices. A Bengaluru and Boston company selling whole slide scanners and, now, a robotic microtome into cancer diagnostics
  • Shift Labs: Also in Medical Devices. A handheld monitor that counts the drops falling through an IV drip chamber and alarms when the rate drifts

Sources

  1. Public recordForm D, ArchForm Inc., CIK 0001807066, accession 0001807066-20-000001SEC EDGAR · Apr 6, 2020
  2. Public recordFDA 510(k) database entry and clearance letter, K213916FDA · Dec 16, 2021
  3. Public recordFDA product classification, product code PNN, orthodontic softwareFDA · accessed Sep 21, 2026
  4. IndependentThis 3D-printing startup helps orthodontists straighten your teethTechCrunch, Megan Rose Dickey · Mar 19, 2018
  5. IndependentArchForm’s 3D printed aligner factory set to reduce orthodontist costs3DPrint.com, Vanesa Listek · Oct 13, 2020
  6. IndependentArchForm launches aligner production powered by DLP 3D printingTCT Magazine · Oct 9, 2020
  7. IndependentSteady year, shifting landscape: findings from the 2025 orthodontic practice surveyOrthodontic Products · 2026
  8. CompanyArchForm pricing, direct print and home pagesarchform.com · accessed Sep 2026
  9. CompanyArchForm company listing, Y Combinator Winter 2018Y Combinator · accessed Sep 2026

Compiled from SEC and FDA public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in ArchForm. This page is not an offer to sell or a recommendation to buy any security.