Total amount raised
$69 Million
Latest funding date
7/1/2024
Location
Pearl has successfully raised $58 million in its latest Series B funding round, backed by investors including Left Lane Capital and Smash Capital. The company specializes in AI-powered solutions for dental practices, offering products like Second Opinion, Practice Intelligence, Precheck, and Calibrate.
Keep reading to explore the intricacies of Pearl's fundraising journey and the investors backing this innovative platform.
What Is Pearl?
Pearl is a global leader in dental AI, providing diagnostic, care, and practice performance solutions for doctors and clinics in over 120 countries. The company operates in multiple industries, including artificial intelligence, dental, health care, health diagnostics, medical, medical device, and software.
Located in West Hollywood, California, Pearl has an employee count between 101-250. The company leverages advanced machine learning models and extensive data sets to enhance dental practices, offering products like Second Opinion, Practice Intelligence, Precheck, and Calibrate.
How Much Funding Has Pearl Raised?
- Series A
- Amount Raised: USD 11,000,000
- Date: May 2019
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch Pearl's initial AI-powered dental solutions.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: May 2024
- Lead Investors: Dental Innovation Alliance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Pearl's product offerings and expand market reach.
- Series B
- Amount Raised: USD 58,000,000
- Date: July 2024
- Lead Investors: Left Lane Capital
- Valuation at Round: USD 400,000,000
- Motivation Behind the Round: To develop and enhance Pearl's dental AI tools, expand its regulatory and patent portfolio, and increase global access to its AI solutions.
Total amount raised: USD 69,000,000. Current valuation: USD 400,000,000.
Key Investors
- Left Lane Capital
- Details: Left Lane Capital is a global venture capital and growth equity firm based in New York and London. Founded in 2019, they focus on high-growth consumer internet and technology companies.
- Investment Focus Areas: Software, healthcare, e-commerce, consumer, fintech, medtech.
- Notable Investments: Bilt Rewards, Polycam, Kings League.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They are known for their hands-on approach and deep operational expertise.
- Investment Focus Areas: Technology, SaaS, internet companies.
- Notable Investments: Airbnb, Reddit, SpaceX.
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm focused on growth investing. They have a long history of partnering with management teams to build durable companies.
- Investment Focus Areas: Healthcare, technology, media, telecommunications, financial services.
- Notable Investments: CrowdStrike, Grubhub, Avalara.
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm investing in healthcare and technology. They leverage their deep domain expertise to support innovative companies.
- Investment Focus Areas: Healthcare, biotechnology, technology.
- Notable Investments: Denali Therapeutics, Beam Therapeutics, Iora Health.
- Health2047
- Details: Health2047 is an innovation company focused on transforming healthcare. They work on developing and commercializing solutions that address critical healthcare challenges.
- Investment Focus Areas: Healthcare innovation, technology.
- Notable Investments: Akiri, First Mile Care, Zing Health.
What's Next for Pearl?
With a record-breaking $58 million investment, Pearl is poised to revolutionize dental diagnostics. The company plans to leverage this substantial funding to enhance its AI-powered tools, broaden its regulatory and patent portfolio, and increase global access to its technology. This opportunity is vast, given the growing demand for AI solutions in healthcare and the potential to standardize dental diagnostics worldwide.
Future fundraising seems promising as Pearl continues to attract significant investor interest. The company's rapid growth and global market presence suggest that additional funding rounds could be on the horizon to support further expansion and innovation. However, challenges such as regulatory hurdles, competition from other AI companies, and the need for continuous innovation remain. Navigating these obstacles will be crucial for Pearl to maintain its leadership in the dental AI sector.
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