Overjet, a Pakistani-driven business, has raised $42.5 million in a Series B fundraising round led by General Catalyst and Insight Partners of New York. In an oversubscribed round, Crosslink Capital and the MIT-affiliated E14 Fund were among the other investors.
The firm received $27 million in a Series A investment led by the same General Catalyst and Insight Partners in August 2021.
Overjet has established itself as a global leader in the field of dental artificial intelligence. Overjet has raised approximately $80 million in funding, led by scientists from the Massachusetts Institute of Technology and Harvard School of Dental Medicine.
Overjet employs artificial intelligence (AI) to encode dentist-level knowledge about disease detection and progression into the programme. Clinicians and insurance companies have praised the programme.
The startup aspires to give the greatest patient care and disease management in a timely and accurate manner.
Dr. Wardah Inam, CEO and co-founder of Overjet, stated that the hyper-growth had been made possible by the efforts of the brilliant team behind Overjet, who “impress us every day with their dedication, and passion to build the best products in the world.”
The company reported that “the financing would 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.”
Wardah Inam, the CEO and co-founder of Overjet, has a PhD and a Master’s degree in Electrical Engineering and Computer Sciences from MIT.
Ms. Wardah Inam received her Bachelor of Science in Autonomous Robotics from the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology in Swabi, Topi, where she worked as a Principal Investigator with the Robotics Research Group.
Dr. Inam earned her doctorate at MIT, where she worked on AI-powered autonomous microgrid technology. This work has attracted extensive attention, with National Geographic describing it as a breakthrough that has the potential to change the way the world is powered.
She has also worked with GE Healthcare and Apple on technology development. The MIT Graduate Women of Excellence Award, as well as the GIK University and Presidential Gold Medals, have all been bestowed to her.
Overjet is the first dental company to get its Dental AssistTM product approved by the FDA. To make Dental Assist available to the general public, the firm has partnered with a number of dental organisations and single-site clinics.
Lonne Jaffe, Managing Director at Insight Partners, claimed that customers loved Overjet’s “highly differentiated and powerful AI software.” Jaffe further stated that Overjet has the potential to transform the oral healthcare industry.
Chris Bischoff, Managing Director of General Catalyst, commented that the firm was immediately impressed by Overjet and its vision to “build the intelligence layer for dentistry.” The exponential market growth achieved by the company in such a short period is an attestation to the value of their software solutions, he added.
Overjet continues to expand at a rapid pace, with 60 workers on board as of December. In the coming months, the firm intends to treble its personnel. Dr. Chris Balaban, DMD, Clinical Director at Overjet, commented, “The team is committed to improving oral healthcare for all and is working towards a dental care future with more diagnostic consistency, accuracy, and trust.”
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