02 January 2022

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Overjet nets upward of $40M in series B

Katherine E. Pfaff

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AI-driven dental software company, Overjet, has closed a series B financing with $42.5 million in backing from investors. The finding was oversubscribed and included return investors such as Crosslink Capital and E14, an offshoot of MIT. The round was led by Insight Partners and General Catalyst. The funding follows a series A which attained $27 million in August, bringing Overjet’s financing total close to $80 million. 

"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," said Dr. Wardah Inam, PhD, chief executive officer, and co-founder of Overjet. "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 funding is expected to spur growth for the firm that aims to make dental practices more efficient. The AI software helps to identify disease and its progression in order to increase speed and accuracy of care. The company won FDA clearance for its product, Dental Assist. The company’s Clinical Intelligence Platform also evaluates dental claims and works with 16 insurance companies to make claims more efficient. 

"As evidenced by its pace of adoption by both insurers and providers, customers love Overjet's highly differentiated and powerful AI software," said Lonne Jaffe, managing director at Insight Partners. "As we're seeing with some AI-powered ScaleUps in other domains, Overjet has the potential to transform the oral healthcare industry, and we couldn't be more delighted to partner with Wardah and her team on the next phase of Overjet's growth journey."

Source: https://www.prnewswire.com/news-releases/overjet-raises-42-5-million-series-b-following-explosive-customer-demand-reaching-425-million-valuation-301447966.html