The healthtech industry has made a lot of progress over the past few years as the demand for better and more reliable healthcare continues to increase. The industry has become more innovative to include robot-assisted surgeries, tools to analyze data to better predict health outcomes and data management softwares for hospital systems. This innovation is also making providers’ lives easier within the dental industry.
Overjet uses AI technology to encode understandings of dental disease identification into its software, allowing patients to receive more accurate and better dental care.
The Boston-based company raised $42.5 million on Monday in a Series B financing round led by General Catalyst and Insight Partners with participation from other existing investors. The Series B brings Overjet’s valuation to $425 million, according to the company.
“Overjet’s cutting-edge software has seen incredible demand from clinicians and insurers alike who see our dental AI as a transformational technology to advance patient oral healthcare,” Wardah Inam, CEO and co-founder of Overjet, said in a statement. “The new financing will accelerate our next chapter of growth to support our customers, grow the team and invest in the next generation of technology to support patient care.”
The recent funding round follows the company’s $27 million Series A round raised in August. To date, Overjet has raised nearly $80 million in venture capital, according to the company.
Overjet has been able to rapidly grow thanks to an FDA clearance for its Dental Assist product and new partnerships to bring dental insurance plans and dental practices to various clinics, such as the New England Family Dentistry.
“Our team regularly invests in training and tools to improve patient care across our network of clinics,” Dr. Patrick Assioun, CEO of New England Family Dentistry, in a statement about Overjet’s partnership. “After months of use, we were impressed by Overjet’s ability to support and guide our clinical providers which ultimately helps them deliver consistent and high-quality patient care. AI has already had a great impact in businesses and medicine, and dentistry is no different. AI is the future of dentistry, and Overjet is the leader in the field. From the hygienist to the dentist to leadership, Overjet’s dental AI gives the team new data and insights to deliver the best dental care.”
Overjet is also working to grow its internal team and double its employee headcount over the next six months. The company will continue to operate on a remote-first policy and remain headquartered in Boston. Several tech jobs at Overjet are currently available, including engineers and software developers.
