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Wednesday, March 29, 2006
Son of Sonicare? A new device is on way
Jack Gallagher, who helped put the Sonicare toothbrush on the bathroom sinks of millions of people, is getting ready to introduce another device to improve dental hygiene.
But Gallagher, who served as president of Optiva and Philips Oral Healthcare from 1998 to 2003, won't say much about what his new startup company is doing.
Whatever it is, the venture capitalists are certainly impressed.
Second Act Partners, the name of Gallagher's secretive Redmond startup, recently landed $8.5 million in venture capital financing. Polaris Venture Partners led the round, with existing investors such as Buerk Dale Victor and WRF Capital also participating. Total financing now stands at about $12.5 million.
"There is really no upside in letting our competition know what we are up to," Gallagher said. "I have always thought that you keep under wraps what you are doing from the competition."
Asked about potential competitors and when the device would be available, Gallagher declined comment. He did say that the device will clean teeth, though he wouldn't say how.
The 57-year-old executive also said the technology behind the power toothbrush has been licensed from the University of Washington. At this time, the company is still in a research and development phase, Gallagher said. But when it does go into production, he said, it plans to build the devices in Washington state.
Second Act Partners employs 18 people in Redmond. Brian Chee of Polaris Venture Partners confirmed that the firm is an investor in the company, but he declined further comment.
Gallagher -- who described the investment climate as "favorable" -- said it took about four months to raise the money.
"Not only my record, but the group of people we have involved gave investors quite a bit of confidence," Gallagher said.
Victor Barry, a Seattle dentist and a past president of the Washington State Dental Association, was not familiar with the new startup. But he said power toothbrushes can help people improve their oral health care habits.
"It ensures that there will be a little more time that the bristles will be on the tooth," said Barry, adding that most people don't spend enough time brushing their teeth.
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