Overjet, a startup focused on using Artificial Intelligence to help dentists and insurance companies understand dental scans, announced that it has raised USD 7.85 million in a seed round.
Overjet’s CEO Wardah Inam an MIT Ph.D. in electrical engineering and computer science said that the company raised the funds from Crosslink Capital, which led its round, and E14 Fund, As per Inam Crosslink Capital only invests in MIT startups.
Overjet’s core technology helps to determine what dental treatments are needed. After a teeth x-ray of a patient a dentist reads the chart and advises like he can come back for a cleaning in a few months or that some dental work is needed. It is in the latter situation that Overjet comes into the picture.
Inam said the selection of Crosslink as Overjets lead investor was not accidental or a co-incidence at all. Inam stated,” Overjet was interested in raising from Crosslink and thanks to its prior investments into Weave, a startup whose software is often used in a dental context.” In the year 2019 Weave had also raised a USD 70 million Series D at a near-unicorn valuation.
The CEO explained Wardah Inam, “Whereas most medical imaging Artificial Intelligence services are focused on finding out if there is any problem with someone, Overjet goes one step further by not only helping the doctor to note that there is a problem but the extent of the problem as well.” He further added, “This can analyze clinical data at scale and determine what treatments are necessary,”
As per the industry reports Overjet may also be able to help insurance companies process their huge influx of dental images more quickly. AI will be able to figure out quickly, if the claim is realistic, and not a fraud. Overjet plans to charge insurance companies per claim analyzed.
Not only this, Overjet will give a clear picture to a patient that what treatment a dentist needs to pursue on his teeth and it will also save them from any treatment for financial gain. Overall the company will help root out some fraud in the system, leading to better-enhanced patient care. However, Overjet says that we will have to evaluate the quality of AI technology for the time being.
If at all the company’s technology works it will help by giving them big business growth for them. The company currently has already around 20 people on the staff role. It expects to grow this year and add new customers to its base and scale up revenue generation as well.