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24.7.2024 15:31:25 CEST | Business Wire | Press release
Pearl, the global leader in dental AI, today announced that it has raised $58 million in Series B funding to accelerate its mission to elevate patient care in dentistry. Left Lane Capital led the round, with participation from Smash Capital, Alpha Partners, and existing investors, Craft Ventures and Neotribe Ventures. This funding marks the largest investment ever in dental artificial intelligence.
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Pearl, the global leader in dental AI, today announced that it has raised $58 million in Series B funding to accelerate its mission to elevate patient care in dentistry. (Photo: Business Wire)
With this investment, Pearl will continue to advance innovation in technologies that enhance the health of dental patients around the world by expanding its line of dental AI products, broadening its regulatory and patent portfolio, and increasing global access to the transformative benefits of AI in dentistry. At present, Pearl’s machine learning and computer vision tools solve a core challenge in dentistry: inconsistency in diagnostic accuracy, which directly impacts the quality of patient care. The company’s AI serves as a real-time aid to help dentists read patient x-rays, deliver consistent, objective, and accurate diagnoses, and clearly communicate findings to patients with precision, clarity, and confidence.
Since receiving the first-ever FDA clearance for AI software to help dental professionals detect multiple different pathologies and other conditions in x-rays, Pearl’s clinical AI has gained regulatory authorizations for chairside use in over 120 countries and recognition among TIME’s Best Inventions. The company plans to use the funding announced today both to accelerate ongoing development of computer vision capabilities – including detection and tracking of disease in 3D and other imaging modalities – and introduce new AI tools to improve patient treatment planning, insurance claim approvals and dental education.
“In the field of healthcare, dentistry has become an AI standard-bearer, demonstrating the technology’s enormous utility and benefit in day-to-day patient care––and Pearl has led the AI charge in dentistry,” said Ophir Tanz, founder and CEO of Pearl. “This historic funding round underscores the impact of Pearl’s capabilities and supports our belief that high-quality, AI-powered dental care should be accessible to everyone. With this investment, Pearl will continue to push the envelope, providing pioneering machine learning to improve oral health outcomes and strengthen trust between the patient and dental professionals.”
This investment follows a period of significant growth for Pearl. The company grew its revenue by 458% in 2023 and remains the only dental AI company with a global market presence. Pearl’s technology is used in dental practices across six continents and is commercially available to over 500,000 dental practices and millions of dental professionals worldwide. The company has also integrated its AI into dozens of popular imaging and practice management systems and is the preferred radiologic AI provider for leading dental technology distributors.
“We have spent the past year evaluating this market and it is clear that Pearl stands above peers at the forefront of dental innovation,” said Vinny Pujji, Managing Partner at Left Lane Capital. “Pearl’s pioneering dental Al improves diagnostic accuracy and efficiency while transforming the provider-patient relationship. We’re confident in Pearl’s ability to continue setting new standards of care and are thrilled to support their next phase of growth.”
Pearl’s AI technology offers a seamless and less invasive approach to dental diagnostics. By accurately detecting disease and displaying clinical findings that are easy for patients to understand, the company’s FDA-cleared software enhances the efficiency, consistency, and precision of radiologic exams, while also facilitating patient education and engagement in their dental health. Leveraging its new funding, Pearl will enable dental professionals to continually raise the standard of care with more transparent, accurate and objective diagnoses, more effective individualized care, and deeper patient trust in dentistry.
For more information on how Pearl’s suite of solutions can enhance your dental practice, visit hellopearl.com.
About Pearl
Pearl is an AI-driven company committed to enhancing patient care in dentistry. Founded in 2019 by a team with decades of experience developing successful, enterprise-grade computer vision solutions, Pearl introduced the first-ever FDA-cleared AI capable of reading and instantly identifying diseases in dental x-rays. With regulatory clearance in 120 countries, Pearl’s AI assists dentists in making precise clinical decisions and effectively communicating with patients, thereby transforming the dental care experience worldwide. As dentistry’s global AI leader, Pearl is committed to the ongoing innovation of robust, accessible AI tools that improve patient health outcomes and build greater trust in dental medicine. To request a demo, please visit hellopearl.com/getdemo.
About Left Lane Capital
Founded in 2019, Left Lane Capital is a New York and London-based global venture capital and growth equity firm investing in internet and technology companies with a consumer orientation. Left Lane’s mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy, including software, healthcare, e-commerce, consumer, fintech, medtech, and other industries. Select investments include Bilt Rewards, Polycam, Kings League, M1 Finance, Wayflyer, Masterworks, Blank Street, Talkiatry, LemFi, and more. For more information, please visit www.leftlane.com.
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