Digital dental well being firm Overjet scored $27 million in Sequence A funding for its synthetic intelligence-backed dental assistant. Common Catalyst and Perception Companions led the spherical with participation from Crosslink Capital and the MIT-affiliated E14 Fund.
This comes simply over a 12 months after the Boston-based firm landed $7.85 million in a seed funding spherical led by Crosslink Capital. As of in the present day the corporate boasts a complete of greater than $35 million in fundraising.
WHAT IT DOES
The corporate’s Overjet Dental Assistant landed an FDA 510(okay) clearance in April. The software was developed to assist dentists and hygienists measure mesial and distal bone ranges in bitewing and periapical radiographs in an effort to assist diagnose periodontal illness.
The startup can be capable of work with insurance coverage firms to assist automate claims assessment and cost integrity.
Based in 2017 by Harvard and MIT dentists and PhDs, the corporate has inked offers with 15 “main carriers” of dental insurance coverage.
WHAT IT’S FOR
The corporate plans to make use of the brand new infusion of money to construct up market adoption and roll out new merchandise.
“The speedy tempo of buyer adoption for Overjet’s software program is a testomony to its product differentiation and the market pull for highly effective, quickly bettering AI expertise in dentistry,” Lonne Jaffe, managing director of Perception Companions, mentioned in an announcement.
“As Overjet scales up, an increasing number of dental payers and suppliers will get the possibility to understand the predictive accuracy of its software program and the caliber of its crew. Overjet is on a mission to unravel probably the most difficult issues in dentistry, which may positively affect tens of millions of sufferers.”
THE LARGER TREND
There are a rising variety of digital dental merchandise in the marketplace. One of many massive names on this house is Quip, which is an on-line subscription platform that ships dental provides to customers. In 2019, the corporate’s providers expanded to incorporate a brand new platform that lets clients browse close by dental providers, see their charges and e book an appointment. Insurtech firm Beam can be zeroing in on the dental house.
Not too long ago, dental care firm Colgate-Palmolive teamed up with Alphabet’s life science subsidiary Verily to conduct new analysis targeted on oral well being that will probably be included on the latter’s ongoing Baseline Well being Examine.