Insuretech Outmarket raises $34.5M just months after prior round
Outmarket raised a $34.5 million Series B to scale AI that automates commercial insurance brokerage paperwork.
Outmarket, founded by former Ethos product leader Vishal Sankhala, uses AI to automate applications and document review for commercial insurance brokers. The company said it has signed more than 300 agencies, including about 25 percent of the top 100, since launching 14 months ago. SignalFire led a $34.5 million Series B, four months after a $17 million Series A, at a reported $355 million valuation, with Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund participating.
- Series B of $34.5 million led by SignalFire at a reported $355 million valuation.
- Round follows a $17 million Series A closed four months earlier.
- More than 300 agencies are customers, including about 25% of the top 100.
- AI automates commercial policy paperwork across more than 250 coverage types.
- Countries
- United States
From the original article
2 min read at techcrunch.com
The startup uses AI to automate tedious paperwork for insurance agencies and brokers.
By Marina Temkin · techcrunch.com
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