Overjet Raises $27 Million in Series A Financing to Accelerate Adoption of AI-Driven Dentistry

BOSTON, Aug. 26, 2021 /PRNewswire/ — Overjet (www.overjet.ai), the worldwide chief in dental synthetic intelligence (AI), right this moment introduced it has raised $27 million in Collection A financing led by Common Catalyst and New York-based world personal fairness and enterprise capital agency Perception Companions with participation from present buyers that embody Crosslink Capital and the MIT-affiliated E14 Fund.

“Overjet is on a mission to enhance oral healthcare for all,” stated Dr. Wardah Inam, CEO and Co-founder of Overjet. “This formidable imaginative and prescient pushed us to seek out world-class buyers with a depth of expertise supporting the scaling of high-growth expertise corporations.”

Overjet’s dental AI merchandise are designed to assist dentists ship one of the best affected person care and allow dental insurers to function extra precisely and effectively. At the moment’s financing follows the FDA’s recent clearance of Overjet’s Dental Assist^TM product designed for dental practices, the primary dental AI firm to obtain such a clearance.

“Overjet improves affected person care by automating a lot of the medical overview course of with AI and by serving to clinicians improve diagnostic high quality, consistency, and velocity,” stated Chris Bischoff, Managing Director of Common Catalyst. “At Common Catalyst, we’re excited to companion with Wardah Inam and your complete Overjet staff as they ship on the imaginative and prescient of well being assurance in dentistry – making a win for sufferers, in addition to insurers and clinicians.”

Within the dental advantages area, Overjet has emerged because the main AI firm with dental insurers, inking 15 main carriers as clients for protection of over 53 million People. The Guardian Life Insurance coverage Firm of America (Guardian Life), a number one dental supplier, was the primary nationwide service to combine Overjet’s dental AI into its claims processing. The 2 corporations began their business partnership in late 2019 with a deal with supporting consistency in dental claims overview and enhancing working effectivity.

“Guardian Life continues to be dedicated to facilitating one of the best oral well being care attainable for our members,” stated Dr Randi S. Tillman, Chief Dental Officer, at Guardian Life. “By partnering with Overjet, we’re in a position to leverage AI expertise to enhance the consistency of our dental declare overview course of whereas making certain that we’re in a position to make choices primarily based on probably the most exact medical information.”

“The fast tempo of buyer adoption for Overjet’s software program is a testomony to its product differentiation and the market pull for highly effective, quickly enhancing AI expertise in dentistry,” stated Lonne Jaffe, Managing Director of Perception Companions. “As Overjet scales up, increasingly dental payers and suppliers will get the possibility to understand the predictive accuracy of its software program and the caliber of its staff. Overjet is on a mission to resolve probably the most difficult issues in dentistry, which may positively impression hundreds of thousands of sufferers.”

With a quickly rising buyer roster, Overjet expects the brand new funding to solely speed up market adoption, new product launches, and impression on dentistry. “Tens of hundreds of thousands of People have already got their dental claims processing streamlined and accelerated by Overjet right this moment,” stated Shaju Puthussery, Chief Working Officer of Overjet. “With the latest FDA clearance and new funding, extra People will see Overjet’s dental AI expertise aiding their dentists on the subsequent check-up. We’re dedicated to serving to clinicians ship one of the best affected person care.”

About Overjet

Overjet is the worldwide chief in dental synthetic intelligence, serving to each payers and suppliers enhance affected person care. The corporate was based by consultants from the Massachusetts Institute of Know-how and Harvard Faculty of Dental Medication, and has assembled the most important and most seasoned staff of technologists and area consultants with deep AI, dental, and insurance coverage expertise. Comply with us at www.overjet.ai and on Twitter @overjetdental.

About Common Catalyst

Common Catalyst is a enterprise capital agency that invests in highly effective, optimistic change that endures — for our entrepreneurs, our buyers, our individuals, and society. We help founders with a long-term view who problem the established order, partnering with them from seed to progress stage and past to construct corporations that face up to the take a look at of time. With workplaces in San Francisco, Palo Alto, New York Metropolis, London, and Boston, the agency has helped help the expansion of companies resembling: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For extra: www.generalcatalyst.com.

About Perception Companions

Perception Companions is a number one world enterprise capital and personal fairness agency investing in high-growth expertise and software program ScaleUp corporations which are driving transformative change of their industries. Based in 1995, Perception Companions has invested in additional than 400 corporations worldwide and has raised by way of a sequence of funds greater than $30 billion in capital commitments. Perception’s mission is to seek out, fund, and work efficiently with visionary executives, offering them with sensible, hands-on software program experience to foster long-term success. Throughout its individuals and its portfolio, Perception encourages a tradition round a perception that ScaleUp corporations and progress create alternative for all. For extra info on Perception and all its investments, go to insightpartners.com or comply with us on Twitter @insightpartners.