Outmarket, a startup focused on automating administrative tasks for insurance agencies and brokers using AI, has raised $34.5 million in a Series B funding round. The round was led by SignalFire, with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund, according to a person familiar with the investment.
FundingOutmarketVishal Sankhala
Insuretech Outmarket raises $34.5M to automate insurance paperwork with AI
The company's valuation reached $355 million following this latest round, which comes only four months after its $17 million Series A. Outmarket aims to address the manual nature of the insurance industry, where approximately 95% of policies are still sold through human agents.
The startup's AI focuses on commercial insurance, a sector involving complex coverage options such as general liability, workers’ compensation, and directors and officers (D&O) liability. By automating time-consuming paperwork and document review, the technology allows brokers to evaluate and recommend policies more quickly.
Since launching its new product 14 months ago, Outmarket has attracted over 300 insurance agencies, including 25% of the top 100 firms. Founded by Vishal Sankhala, a former product executive at digital life insurance distributor Ethos, the company seeks to expand its footprint in the massive U.S. property and casualty insurance market.
Sources
- Insuretech Outmarket raises $34.5M just months after prior round （TechCrunch AI, 2026-09-28）