Massachusetts-based startup Overjet raised $7.85 million in a seed round to bring data-driven care to dental practices.
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For the past decade or so, dentists have been looking at financial data to understand what was happening in their practice, CEO Wardah Inam said. But by analyzing clinical data, she said, dentists get a better, more complete picture of their practice.
“I kind of got into it more from the patient care perspective, but what we realized was the technology we’re building has an impact on the dental industry, whether it’s insurance (companies) or dental organizations,” Inam said.
The company’s core is computer vision–using deep learning on dental images and data science to connect the imaging data with other dental practice data.
Overjet looks at clinical data, such as what procedures were done and what outcome was achieved. For example, Overjet could look at an x-ray and determine if a treatment is needed or not.
Some large insurance carriers use Overjet, along with large dental practice groups (groups of 300-plus practices) and smaller dental practice groups, Inam said. She declined to name customers, but noted that the company has millions of members.
According to Inam, Overjet is useful to insurance companies because it makes the claim review process more efficient. Dental insurance companies presently review claims manually, a costly and inefficient process that is vulnerable to inconsistency and inaccuracies, she said. By having a quantitative review process, insurance companies can determine which procedures were necessary or not based on their guidelines.
Overjet’s lead investor was Crosslink Capital, a firm Inam said the company wanted to go with because it also was one of the first investors in Weave. The Utah-based startup, which makes it easier for businesses to communicate with customers, is used by many dental offices.
With the new funding, Overjet is ramping up to continue serving its customers–the company has received a lot more interest than initially anticipated, Inam said. Based in the Boston area, the company was planning to open an office in August, but the COVID-19 pandemic has left those plans up in the air. The company has 12 full-time employees and about 70 dentist contractors who help with analysis.
“We’re mostly focused on growth and our goal is every practice is using it; every claim is going through Overjet software so the right decisions can be made,” Inam said.
Illustration: Li-Anne Dias