Archy - Digitizing the Dental Office

Company & Team Introduction

Archy is the all-in-one platform digitizing dental practices around the world. The company was founded in 2021 by a trio of ex-Uber engineers, Jon Rat (CEO), Ben Kolin (CTO), and Nimish Sheth (no longer with the company), who identified the opportunity after seeing existing software solutions consistently falling short for Jon’s wife at her practice. Incumbent solutions typically required stitching together multiple expensive tools with dated interfaces and unintuitive user experiences. Motivated by the lack of adequate dental technology currently available on the market, the team set out to build an end-to-end, centralized and user-friendly dental solution. Archy now has ~26 employees and has chosen to scale its team remotely with headquarters in San Jose, California.

Product Overview

Archy brings multiple disparate tools into a centralized platform, modernizing the industry one practice at a time. Archy’s cloud-based platform streamlines every aspect of a dental office’s operations so dentists can get back to what they do best: helping patients. From backend management features like charting, imaging, patient scheduling, lab case tracking, payment processing, and insurance claim management and real-time eligibility to growth and communication features such as MMS & bulk texting, email marketing, and team chat, Archy provides a unique suite of tools to manage an entire practice through a single consolidated platform.

Total Addressable Market

Archy’s market opportunity is enormous; per the American Dental Association, there are over 202,000 dental practices in the US alone, each needing a suite of tools to manage and grow their business. According to research from grandviewresearch.com, the total addressable market for dental practice software had already grown to 2.6B in 2023 and is projecting a sound 10.7% CAGR through 2030, surging the potential addressable market to north of 5B.

Business Model & The Numbers

Archy utilizes a simple 3-tier SaaS model with quote-based pricing. The company’s “Silver” tier gives access to features such as online forms, insurance claim management, texting, charting, TX planning, imaging, etc. Archy’s “Gold” tier unlocks features such as online scheduling, email marketing, MMS, bulk texting, lab case tracking, team chat, etc. For additional premium functionality, Archy offers a “Platinum” tier, which unlocks advanced features like real-time insurance eligibility and Pearl AI’s imaging technology. The company says, on average, a solo practice can save up to $8000/year and up to 80 hours per month by switching to Archy as it provides a true all-in-one PMS. The company also claims that outdated and inefficient software can cause up to a 15% loss to a practice’s bottom line.

Traction

Archy has seen solid early traction and is quickly making a name for itself in the industry. The company serves several practices across North America, including Signature Smile, Wiechart Dental, Inland Dental Arts, Lowen Perio, and Custom Periodontics & Implantology. Getting new clients should become easier as the company continues to establish its position as a trusted player in the market, as sensitivity/availability of data is pivotal for the industry. Archy is also forging critical partnerships with other leading technology companies to expand their platform’s capabilities with unique features. A few examples include Pearl AI, a cutting-edge AI imaging solution transforming the dental office via higher treatment acceptance rates with more precise diagnoses and clear visual explanations. Another key partnership for the company is with Gusto, a leading payroll/HR software provider that embeds payroll services directly into Archy’s platform so busy dentists can do payroll in a single click.

Competitors

Archy’s cloud-based architecture sets it apart from incumbent on-premise solutions like EagleSoft and Dentrix for countless reasons, including allowing dentists to access their data anytime and anywhere, having information that is always up to date, reducing data and security worries by extracting the possibility for issues via hardware failures and backup worries, as Archy has all your data backed up securely in the cloud. Archy also extracts the IT nightmare of maintenance and expenses for servers and IT companies, centralizes multiple tools into one platform and unlocks siloed data. While there are also a few newer cloud-based competitors on the market, including Curve Dental, Archy still has a superior offering as the most complete cloud platform available on the market with differentiated features such as in-app payroll, rapid product development, a well-designed user interface, intuitive user experience, and world-class customer support will propel the company to the forefront industry of the Dental industry.

Funding

The company has only raised 1 round of funding. Archy tapped into the capital markets in 2022, announcing in November that it had raised 10M in new funding from a laundry list of prominent VC firms and angel investors. The round was co-led by Kent Bennett from Bessemer Venture Partners and Kristin Baker Spohn from CRV, with other notable participants including firms like Alven, Adapt Ventures, 2.12 Angels, NKM Capital, Diagram Collective and angels Thuan Pham (ex-CTO, Uber), Fidji Simo (CEO, Instacart), and Somrat Niyogi (Partner, Recall Capital).