Wisdom, an AI-powered dental revenue cycle management (RCM) platform, secured $21 million in Series A funding. Permanent Capital Ventures led the round. Aquiline and existing investor Juxtapose also participated.
The company addresses a significant challenge in the dental market. Dentists often lack modern tools for revenue cycle management. Wisdom's platform integrates advanced AI with US-based billing experts. This unique approach maximizes revenue collections and improves predictability.
Wisdom has already collected hundreds of millions for clients. It saves practices up to 50% on collection costs. The platform maintains a high Net Promoter Score of 71. Over 50% of new deals come from referrals, demonstrating strong organic growth. This positions Wisdom as a leader in dental technology.
This funding brings Wisdom's total capital raised to $28 million since its 2023 founding.
Accelerating Dental RCM Innovation
The new capital will accelerate product innovation and market expansion. Wisdom plans to enhance its technology platform. It will also build out its team to serve more dental offices. CEO Stoyan Kenderov leads the company. He previously held senior roles at Plastiq and LendingClub. Ashley Bond, Co-Founder and Chief Dental Billing Officer, also guides the firm. Their expertise drives the company's focus on efficient revenue cycle management.
While broader AI in healthcare sees significant innovation, the dental sector has lagged. Wisdom aims to bridge this gap. Competitors like Waystar and R1 RCM operate in the wider medical RCM space. Wisdom specifically targets the unique needs of dental practices.
