Overjet expects that the new funding will help accelerate market adoption of AI-driven dentistry, as well as drive new product launches
Overjet’s Clinical Intelligence Platform shows a radiograph with dental artificial intelligence findings. (Credit: PRNewswire / Overjet)
Overjet, a provider of dental artificial intelligence (AI), has secured $27m in a Series A financing round to boost the adoption of AI-driven dentistry.
Ledy by General Catalyst and New York-based global private equity and venture capital firm Insight Partners, the financing round witnessed participation from existing investors such as Crosslink Capital and the MIT-affiliated E14 Fund.
With the latest financing, the company’s total funding reached more than $35m.
Overjet is anticipating that the new funding will help accelerate market adoption, new product launches, and have an impact on dentistry.
Overjet CEO and co-founder Dr Wardah Inam said: “Overjet is on a mission to improve oral healthcare for all.
“This ambitious vision pushed us to find world-class investors with a depth of experience supporting the scaling of high-growth technology companies.”
Overjet has designed its dental AI products to provide better patient care and allow dental insurers to operate more precisely and effectively.
The latest financing is said to follow the FDA’s recent approval of the company’s Dental Assist product, which is developed for dental practices. Overjet is claimed to be the first dental AI company to secure this kind of approval.
General Catalyst managing director Chris Bischoff said: “Overjet improves patient care by automating much of the clinical review process with AI and by helping clinicians increase diagnostic quality, consistency, and speed.
“At General Catalyst, we are excited to partner with Wardah Inam and the entire Overjet team as they deliver on the vision of health assurance in dentistry – creating a win for patients, as well as insurers and clinicians.”
Overjet has collaborated with 15 major carriers for coverage of more than 53 million Americans.
The Guardian Life Insurance Company of America, a dental provider, was the first national carrier to incorporate Overjet’s dental AI into its claims processing. Both firms began their commercial partnership in late 2019.
Guardian Life chief dental officer Dr Randi Tillman said: “Guardian Life continues to be committed to facilitating the best oral health care possible for our members.
“By partnering with Overjet, we are able to leverage AI technology to improve the consistency of our dental claim review process while ensuring that we are able to make decisions based on the most precise clinical data.”