Overjet, a Pakistani Led startup, has raised $42.5 million in a Series B funding round led by General Catalyst and New York-based venture capital firm, Insight Partners. Other investors in the round included Crosslink Capital and the MIT-affiliated E14 Fund in an oversubscribed round.
In August 2021, the startup secured funding of $27 million in a Series A round led by the same General Catalyst and Insight Partners.
Overjet has become a global leader in dental AI. Led by experts from the Massachusetts Institute of Technology and Harvard School of Dental Medicine, Overjet has raised nearly $80 million in funds.
Overjet uses AI technology to encode dentist-level understanding of disease identification and progression into the software. The software has been heavily acclaimed by clinicians and insurers.
The startup aims to efficiently and accurately provide the best patient care and disease management.
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.”
CEO and co-founder of Overjet, Wardah Inam holds a PhD and a Master’s degree from MIT in Electrical Engineering and Computer Sciences.
Ms. Wardah Inam pursued her Bachelor’s in Autonomous Robotics from Ghulam Ishaq Khan Insitute of Engineering Sciences and Technology, Swabi, Topi, where she was the Principal Investigator with the Robotics Research Team.
Dr. Inam received her PhD from MIT, where she developed AI-powered autonomous microgrid technology. This work received widespread recognition including National Geographic covering it as a breakthrough that could transform the way we power the world. She has also worked on tech development at GE Healthcare and at Apple. She’s the recipient of the MIT Graduate Women of Excellence Award, and the GIK University and Presidential Gold Medals.
Overjet is the first dental company to secure FDA clearance for its Dental Assist™ product. The startup is heavily involved with numerous dental organizations and single-site clinics to help make Dental Assist publicly available.
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 grow swiftly and has already garnered 60 employees on board as of December. The startup hopes to soon double the headcount in the next few months. 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.”
Source: Pro Pakistani