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– General Catalyst and Insight Partners led the financing.
– Company has raised over $35 million to date.
– Overjet has become the partner of choice for the top payers and providers.
The company that is the world leader in dental AI (artificial intelligence) announced today that it has raised $27 million in Series A funding. General Catalyst and the New York-based global private equity and venture capital firm Insight Partners led the round, and Crosslink Capital and the MIT-affiliated E14 Fund were also investors.
Overjet’s CEO and co-founder, Dr. Wardah Inam, said, “Overjet’s goal is to improve oral health for everyone.” “This big-picture goal made us look for world-class investors who had a lot of experience helping high-growth technology companies grow.”
The dental AI products made by Overjet are meant to help dentists give the best care to their patients and help dental insurers work more accurately and efficiently. The financing announced today comes after the FDA recently approved Overjet’s Dental AssistTM product for use in dental practices. Overjet is the first dental AI company to get this kind of approval.
Chris Bischoff, the Managing Director of General Catalyst, said, “Overjet improves patient care by automating a lot of the clinical review process with AI and by helping clinicians improve diagnostic quality, consistency, and speed.” “At General Catalyst, we’re excited to work with Wardah Inam and the whole Overjet team as they deliver on the vision of health assurance in dentistry, making it a win for patients, insurers, and clinicians.”
In the area of dental benefits, Overjet has become the leading AI company with dental insurers. It has signed contracts with 15 of the largest dental insurers, covering over 53 million Americans. The Guardian Life Insurance Company of America (Guardian Life), a leading dental provider, was the first national carrier to add Overjet’s dental AI to its claims processing. Late in 2019, the two companies started a business partnership with the goal of making it easier to review dental claims and making operations more efficient.
Dr. Randi S. Tillman, Chief Dental Officer at Guardian Life, said, “Guardian Life is still committed to helping our members get the best dental care possible.” “By partnering with Overjet, we can use AI technology to make our dental claim review process more consistent and make sure that our decisions are based on the most accurate clinical data.”
Lonne Jaffe, the Managing Director of Insight Partners, said, “The speed at which customers are adopting Overjet’s software shows how unique it is and how much the market wants powerful, quickly improving AI technology in dentistry.” As Overjet grows, more and more dental payers and providers will be able to see how accurate its software is at making predictions and how good its team is. Overjet is on a mission to solve dentistry’s most difficult problems, which could help millions of patients.
With a list of customers that are growing quickly, Overjet thinks that the new funding will only speed up market adoption, the release of new products, and the impact on dentistry. Overjet’s Chief Operating Officer, Shaju Puthussery, said, “Tens of millions of Americans already have their dental claims processing streamlined and sped up by Overjet.” “Overjet’s dental AI technology will be used by more dentists in the U.S. at the next check-up, thanks to the recent OK from the FDA and new funding.” “We want to help clinicians give the best care to their patients.”
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