Dentite leveraged Finta to close its oversubscribed $1M pre-seed round
“We had a large tranche of angel investors who were the momentum builders in working toward institutional funds. Finta was a very cost-effective and simple way to track those conversations, share information and ultimately complete investments.” - Dentite Chief Technology Officer Jerod Sikorskyj
Finta takes any company, at any stage, and creates seamless connections to investors who are looking for those types of deals.
We recently helped an exciting tech startup that unlocks the power of AI in medical billing for dental practices to raise their pre-seed round.
What is Dentite
Many dental procedures can be reimbursed through medical insurance, but the process is too cumbersome and costly for most dental practices. Dentite specializes in matching procedures with reimbursements in medical health plans, creating a new revenue stream and requiring no additional effort for dental practices. Dentite’s revenue model does not involve a cost to patients or dentists – it takes a cut of each transaction it enables.
Dentite was founded in 2023 by Dr. Petar Tofovic, a practicing dentist who is the company’s CEO, along with Jerod Sikorskyj (CTO), Xenia Richter and Dan Richter. The company is preparing to release a fully automated version of its platform in 2025, which will cut the medical reimbursement process from a few hours to a few seconds.
Dentite grew its customer base by nearly 2000% in 2024 and now works with dental practices in 29 states.
Dentite's Pre-Seed Round on Finta
Dentite recently closed a $750k pre-seed round, oversubscribed at $1 million, that included contributions from the University at Buffalo, Launch NY and NY Ventures, along with numerous angels. The round will support the business as it completes the buildout of its fully automated and AI-driven product, along with continued customer acquisition growth.
Why Dentite Used Finta
Sikorskyj, the company’s CTO, said Dentite was introduced to Finta as it was developing its fundraising strategy. The company leveraged advice from Finta leadership not to pursue a priced round this early in its life cycle, and instead to raise on SAFE notes that convert to equity at a later date.
The Dentite team then used Finta’s automated platform to…
- Track nearly 150 concurrent conversations with investors
- Share its deal room with prospective investors
- Using specialized attributes such as notifications when an investor views a deal, allowing Dentite to engage them in real time; a real-time breakdown of commitment levels toward the round, from the first email to money in the bank; and automated biographies/summaries of investors added into the funnel scraped from the web
Sikorskyj said those tools are consistent with platforms that charge much higher prices, and still lack Finta’s intuitive interface.
Takeaways
A fast-growing B2B SaaS startup helps dental practices to access new revenue streams, and will automate a process that currently takes hours down to seconds. Dentite achieved rapid growth across the U.S. in 2024, and plans to continue that trajectory as it unveils its fully automated platform. Dentite’s oversubscribed $1 million pre-seed round will support tech development, growth and customer success.
When Dentite goes out to raise its seed round in the coming years, it plans to use Finta as the tool to bring that deal home.
