The artificial intelligence company Pearl has secured a record amount in funding, which will help their efforts to improve the field of dentistry. Pearl will now aim to further expand their dental solutions following this investment. This should be positive for dentistry, with the hope being that artificial intelligence will help to improve treatment outcomes for patients.
The artificial intelligence (AI) company Pearl has secured a record $58 million in funding for their ongoing efforts into combining AI and dentistry [1].
This landmark investment should pave the way for Pearl to further expand their dental solutions, with further innovations expected.
This is the latest example of the impact AI is having on dentistry. As with any advancement in dentistry, the ultimate aim is to improve treatment outcomes for patients.
Who are Pearl?
Pearl are a company that focuses on artificial intelligence. They market themselves as “the future of dentistry” and offer a range of dental solutions.
The company was founded by Ophir Tanz and Kyle Stanley in 2019 [2]. Both had dentist fathers – meaning they have been exposed to dentistry for their entire lives.
Pearl are also currently the only dental AI company with FDA clearance for patient-facing detection of some dental conditions [2].
Pearl have developed a range of dental-based technology. These center around machine learning and computer vision tools.
Furthermore, Pearl aim to speed up the process of dental solutions. For example, their Smart Margin® software can improve the dental restoration process, helping to save time and expense for both dental clinics and patients [2].
The announcement
On 24th July 2024, Pearl announced that it had raised $58 million in Series B funding. This was a historic announcement – with this being the largest investment in the history of the dental AI field.
Series B financing happens when a business meets certain milestones, and once it has moved past the initial start-up phase. With many businesses failing in their first year, securing Series B financing is a way of underlining to investors that a company is moving in a positive direction.
Among the investors were Smash Capital and Alpha Partners [1]. Moreover, existing investors Craft Ventures, Neotribe Ventures, and Left Lane Capital all provided further investment.
Vinny Pujji of Left Lane Capital said that “it is clear that Pearl stands above peers at the forefront of dental innovation” – which underlines their support [1].
The investment comes following strong growth for Pearl. For example, they enjoyed a staggering 458% rise in revenue in 2023 [1].
As discussed, the $58 million investment has beaten the previous record investment – which was $53.2 million for Overjet. Overjet’s funding was part of Series C funding.
What will happen next for Pearl?
With the additional funding, it will allow Pearl to continue their existing research. Furthermore, they will be able to expand into other avenues.
Pearl have announced that they will be collaborating with Canadian company Patterson Dental Canada [1]. Their collaboration will aim to expand access to some of Pearl’s products to the Canadian dental market.
For example, this includes Pearl’s Second Opinion software, which helps dentists to identify numerous common dental conditions, including tooth decay and root abscesses [1].
Another key area that Pearl will be hoping to act upon is increasing its patent portfolio. Patents can help to safeguard Pearl’s control of their creations.
Pearl are also hoping to further rollout their software that detects multiple pathologies in dental X-rays [1]. This will aid significantly in the diagnostic process for dentists.
Tanz has said that “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” [1].
Pearl will also be hoping to move into more markets in the future. For now, moving into the Canadian market offers an exciting opportunity for growth.
Where could AI take us?
AI is clearly having a big impact on the field of dentistry. Significant funds are being committed to developing new creations in the field.
One of the biggest goals of AI is to improve treatment outcomes. Improving the accuracy and speed of diagnosis of dental conditions is also important.
Returning to Pearl’s co-founder Tanz, he said that dentistry is “an AI standard-bearer, demonstrating the technology’s enormous utility and benefit in day-to-day patient care” [1].
AI will be used in the future for a range of purposes in dentistry. The aim is that patients will benefit the most from AI, seeing improved treatment outcomes and subsequent quality of life.
Thinking points…
[1] It will be exciting to see where artificial intelligence will take us in the future! For now though, we need to focus on our oral health in the present day. One of the best things you can do to aid your oral health is to attend a dental check-up at least once every six months. This will allow a dentist to take a look at your oral health, provide advice, and suggest treatment if necessary. We recommend booking an appointment now!
[2] We mentioned in the article above about how some of Pearl’s software will be being introduced into the Canadian market soon. Canada already has an excellent range of dental clinics! For example, our Calgary-based dental clinic Taradale Dental offers a range of treatments for our patients, including cosmetic-based options. If you would like to find out more about us, you can read more here – https://taradaledental.ca! We hope to see you soon!
What we offer at Taradale Dental
Taradale Dental is a dental clinic based in Calgary, Alberta, Canada. At our Calgary dental clinic, we provide a range of services for our patients.
We advise our patients to attend our Calgary dental clinic at least twice per year for a regular dental check-up. At these check-ups, we provide a comprehensive review of a patient’s oral health. If any problems are detected, we have many treatments available. For example, these include cavity fillings and root canals. To strengthen your oral health, we recommend brushing your teeth at least twice a day and flossing regularly.
Here at Taradale Dental, we also have some cosmetic treatments available! These include dental implants, teeth whitening and Invisalign™! Our patients find that these treatments have a positive impact on their appearance, confidence and self-esteem.
Moreover, the fees of our treatments at our Calgary dental clinic Taradale Dental are set in line with the Alberta Dental Fee Guide. This ensures transparent and fair pricing, with no hidden costs.
We hope to see you soon at our Taradale Dental clinic in Calgary! You can find out more about us by visiting our website https://taradaledental.ca/!
References
[1] Singh, M. (2024). Dental AI Startup Pearl Raises Record $58 Million in Series B Funding. Available: https://aimresearch.co/generative-ai/dental-ai-startup-pearl-raises-record-58-million-in-series-b-funding. Last accessed: 25th July 2024.
[2] Pearl. (2024). Pearl. Available: https://www.hellopearl.com/. Last accessed: 8th August 2024.
