According to Overjet’s CEO Wardah Inam (an MIT PhD in electrical engineering and computer science), the company raised the funds from Crosslink Capital, which led its round, and E14 Fund, which “just invests in MIT startups,” Inam stated.
The MIT-E14 connection is not unexpected, considered that Overjet has been supported by two different MIT groups. Continuing the Boston-area academic links, the startup was bred by the Harvard Innovation Lab, which Inam told TechCrunch that it is “growing out of” in regards to area.
The choice of Crosslink as its lead financier wasn’t unintentional. Inam informed TechCrunch that Overjet was interested in raising from Crosslink thanks to its prior investments into Weave, a startup whose software application is typically used in an oral context. (Weave raised a $70 million Series D at a near-unicorn appraisal in 2019, TechCrunch formerly reported.)
But enough about the money, let’s talk about what Overjet does.
You’ll often get an x-ray taken of your teeth when you go to the dental practitioner. A dental professional will check out the chart and make some recommendations. They might state that you’re in good shape, and can return for a cleansing in a few months. Or your dental expert might inform you that some work is needed. The latter circumstance is where Overjet enters into play.
According to Inam, Overjet’s “core innovation [assists] to determine what treatments are needed.”
The CEO informed TechCrunch in an interview that while most medical imaging AI services are focused on discovering if there is anything wrong (the start-up executive provided an example of tumor detection) with someone, Overjet can “go one step further,” assisting to not only note that there is a problem (tooth decay, to pick a hypothetical), however the degree of the issue itself.
This ability to “examine scientific information at scale” and “determine what treatments are essential,” as Overjet’s CEO put it over the phone, is potentially attractive to both dental professionals and insurer alike.
For dental professionals, it’s the ability to lean on AI-styled innovation to assist confirm their diagnosis, or help them not miss concerns that are tough to area. Overjet may likewise have the ability to assist insurance companies process their huge influx of dental images quicker. Currently, Inam informed TechCrunch, “every crown that is sent to any major insurance company is examined” manually by humans, something that is costly.
AI may be able to much better inform, and more quickly, if a claim is sensible, and not fraudulent.
This likewise assists clients to a degree. Remembering our example of going to the dentist, just how much control do you truly have more than the work that is done to your teeth? Not a lot, frankly. This opens up the chance for dental professionals to pursue unwanted treatments for financial gain. If Overjet can help root out some fraud in the system, it might cause much better patient care.
Chatting with a start-up it’s hard to grok how great its tech is. When it comes to Overjet, it’s almost impossible. If the business’s tech works as it believes it does, it may be able to rapidly grow inside its target market; we’ll have to veterinarian the quality of its innovation through the lens of company development for the time being.
Overjet charges insurance companies per claim examined, even if it consists of more than one x-ray. Dental practices pay on a SaaS design, Inam informed TechCrunch.
The company currently has “around 20” individuals on personnel, according to its CEO, and anticipates to grow this year. I’m incredibly curious how numerous new clients the startup can acquire this year, and how quick it can scale revenue. More when we speak to Overjet again.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.