Archy raises $50M Series C

JMI Equity led the round, with existing investors TCV, Entrée Capital, Bessemer Venture Partners, CRV and Alven also taking part. Total funding now stands at $97 million. Valuation was not disclosed. The money is earmarked for developing AI agents that automate work across dental practices. The San Jose company now serves more than 1,000 dental practices across 45 states and processes over $300 million in payments a year, up from roughly $100 million and a 57-person team at its Series B a year earlier. Headcount has reached 130. Its agents cover claims and collections (Revenue), SOAP notes (Scribe), insurance eligibility checks (Verify), patient scheduling and communication (Connect), and practice analytics (Insight). Archy's pitch is a contrast with vendors that add single-feature AI tools to older software. It builds agents into the same platform that holds imaging, charting, payments and scheduling. That sets it against legacy practice-management systems and standalone AI add-ons. For founders building vertical AI, the case rests on owning the system of record. Agents that sit on the data and the payment flow can show measurable results, such as collections and processed volume, and that appears to be what drove this growth. Vertical markets with fragmented, aging software and chronic staffing gaps remain open to that approach.