Boston dental AI startup Overjet has raised $53.2 million in a Series C round, bringing the company’s total funding to $133 million.
Overjet uses computer vision to analyze dental x-rays, and the technology is used by dentists to diagnose cavities or or dental bone loss. It can also translate X-ray data into language that’s better understood by patients, and can review insurance information.
The new round of funding will be used to further the AI capabilities Overjet provides. The ultimate goal for the company is to create unified standards, enabled by its technology, across the U.S. dental system, according to a news release announcing the funding.
The company valuation is now $550 million, according to the news release. The Series C round was led by March Capital, and included participation from the American Dental Association.
According to the company, the funding comes after a rapid growth period for Overjet. Overjet is now used by thousands of dental offices, and is used by the majority of the largest 10 dental insurers.
"Overjet's AI is already a game-changer from a clinical perspective," Dr. Mark Sivers, chief clinical officer at Aligned Dental Partners, said in the news release. "What really excites me is Overjet's ability to create a common language between providers and payers, so our business can move much faster. We've seen our average reimbursement period drop dramatically, and that's just the beginning of what AI can do."
Overjet was an honoree at BostInno’s 2022 Fire Awards.
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