What You Should Know:
–Archy, a pioneer of cloud-based automation software for dental practices, today announced it has raised $15M Series A funding in a round led by Entrée Capital with participation from Bessemer Venture Partners, CRV, Alven, 20VC Growth fund and several angel investors and dental professionals.
-The investment will advance further development of the Archy product, embedding AI across various areas to make dental practices more efficient and allowing dental teams to focus on more intricate tasks, while increasing practice revenue opportunities and significantly enhancing customer experiences.
Archy: Transforming Dental Practice Management with AI-Driven Solutions
Archy is a leading provider of practice management software for dental practices, offering an all-in-one solution that streamlines operations and reduces costs. By eliminating the need for multiple, expensive add-on services, Archy helps dental practices save an average of $8,000 annually. From charting and payroll to employee management and patient engagement, Archy serves as a comprehensive platform for dental practice owners.
Dental practices across the U.S. face several significant challenges:
– A severe staffing shortage has reduced capacity by an estimated 10%, with the situation expected to worsen as 33.7% of dental assistants and 31.4% of dental hygienists plan to retire within five years.
– Decreasing dental insurance reimbursements are limiting practices’ ability to offer competitive salaries.
– Approximately 75% of dental practices still rely on outdated, on-premise servers, which hinder operational efficiency and pose security risks.
Archy directly addresses these challenges through its fully automated, cloud-based platform. Key features include:
– Cloud migration: Eliminates the need for costly, outdated servers, enhances security, and provides regular updates while enabling seamless scalability.
– AI-driven automation: Streamlines tasks such as insurance verification, billing, scheduling, and patient communication, freeing up time for more critical functions.
– Integrated imaging solution: Real-time storage of x-rays and images, with AI-powered x-ray analysis through direct integration with Pearl AI.
Co-founded by Dr. Christine Liu, a practicing dentist, Archy was designed specifically to meet the needs of dental professionals. The platform automates many time-consuming processes, reducing human error and enabling practices to focus on patient care. With built-in imaging software, practices no longer need to rely on external solutions for imaging.
In its latest funding round, Archy raised its total investment to $27 million. The company plans to expand its AI and machine learning capabilities, particularly in analytics and revenue cycle management. Currently, Archy supports a few hundred dental practices across the U.S., with several prominent entrepreneurs and angel investors backing its growth.
“Fewer staff, mounting workload, less revenue opportunities all while using antiquated systems presents a long-term challenge not only to dental practices, but also inevitably to dental patient care,” said Jonathan Rat, Co-Founder & CEO of Archy. “By integrating Archy, dental practices have an immense opportunity to reinvent how they manage the day-to-day workload, saving crucial time and cost which can be driven instead into business improvements, patient care and outcomes. Archy’s automated overhaul of a dental practice’s operations helps develop and retain the workforce, and our aim is to become a linchpin for sustainable growth for the practice itself.”
