Archy Archy , a specialist in cloud-based automation software for dental practices, has announced it has raised 15 million USD 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. Dental practices are being plagued by several fundamental challenges simultaneously.
They are facing a severe staffing shortage, with capacity reduced by an estimated 10% across the US - an issue that is set to be further compounded by 33.7% of dental assistants and 31.4% of dental hygienists indicating they are planning to retire within five years.
Dental practices are also contending against decreasing dental insurance reimbursements, making it harder for practices to offer competitive salaries, all while 75% of them still rely on outdated, on-site servers, proving a major obstacle to operational efficiency and presenting security risks. Archy addresses each of these challenges through its pioneering fully automated, cloud-based solution that eliminates the need for costly, outdated on-premises servers while providing AI-driven automation tools for insurance verification.