PARIS-Tuesday 12 March 2019 [ AETOS Wire ]
(BUSINESS WIRE)-- Dental Monitoring (“DM”), provider of the premier suite of Artificial Intelligence solutions in dentistry and orthodontics, has closed a funding round of €45 million, backed by leading growth investor Vitruvian Partners, to accelerate its global expansion.
Philippe SALAH, CEO of Dental Monitoring, said: "At Dental Monitoring, we believe that the dental ecosystem can greatly benefit from our technology. We are proud to partner with Vitruvian, as their deep industry expertise and international, growth-driven approach will help us achieve our shared ambition of making Dental Monitoring accessible to all dental stakeholders: patients, doctors, manufacturers, institutions and insurance companies across the world.”
Founded in France in 2015, Dental Monitoring was one of the first companies to recognise how AI could transform the dental profession, and to build a highly sophisticated AI platform protected by over 80 patents. In a world where patients of all ages are expecting technology to change their experience for the better, Dental Monitoring made it its mission to help dental professionals offer better care and more convenience, with tools patients are excited to use: 73% of Millennials would like their doctor to give them an app to manage their care1 and 70% of Baby Boomers are excited about the potential of AI to allow doctors to focus on their health2.
All Dental Monitoring solutions are app or cloud-based, and allow dental professionals to assess and monitor dental conditions, including orthodontics, in-practice or remotely. Their aim is to increase the level of care through the use of sophisticated assessment tools, to augment patient engagement through facilitated communication, and to increase both patient convenience and practice efficiency.
Dental Monitoring will use the funds to accelerate its development in the US and Asia and to strengthen its offering for the global market of general dentists with sophisticated AI-driven solutions.
Torsten Winkler, Partner at Vitruvian Partners, said: "Dental Monitoring is a truly disruptive AI-powered oral care solution, and has shown remarkable performance in substantially growing its user base and executing on an exciting product roadmap for the overall dentistry market. We are excited to partner with Philippe and his team and provide all the support we can to enable Dental Monitoring to achieve global leadership in AI-based services in dental care.”
In 2018, Dental Monitoring partnered with the Straumann Group, a global leader in esthetic dentistry, significantly expanding its reach to dentists around the world. At the IDS in Cologne, the Straumann Group will launch three new additional products that have been developed by DM, including:
a new ScanBox to accurately and easily capture intraoral pictures from monitored patients;
a solution to produce an instant and automatic pre-assessment of patients’ oral conditions; and
a solution to generate photo realistic simulations of the patient’s smile during and after treatment.
About Dental Monitoring (www.dental-monitoring.com)
Founded in 2015 by Philippe Salah, Dental Monitoring is the first AI-based company to target dental professionals’ needs. The DM software suite is designed to address the needs of dental professionals all along the patient journey: before treatment to increase the patient’s engagement, during treatment to increase the quality of care provided by the doctor, and after treatment to ensure the stability of the treatment outcome. The company currently operates in Europe, the United States and Asia. It employs a team of about 150 employees across its 4 offices located in Paris, Austin and, Hong Kong and Sydney.
About Vitruvian Partners (www.vitruvianpartners.com)
Vitruvian is an independent growth capital firm which specializes in ‘dynamic situations’ - investments in companies undergoing significant growth and change typically driven by technology. Vitruvian helps portfolio companies scale their operations by providing an operational support system and assistance with strategic initiatives including acquisitions. Notable investments to date include global market leaders in their field such as Just Eat, Skyscanner as well as life science and AI innovators such as CRF Health, ADA Health, Darktrace and others.
The €2.4bn Vitruvian Investment Partnership III (“VIP III”) is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian has backed 30 companies in its first two funds and has assets under management of approximately €5 billion. Vitruvian has offices in London, Munich, Stockholm, Luxembourg, San Francisco and Shanghai.
1 Source : 2015 State of the Connected Patient, Salesforce survey of 1,700 US adults
2 Source : 2017 Connected Patient Report, Salesforce survey of 2,083 US adults
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