Outmarket AI Raises $34.5M Series B to Solidify Position as the #1 AI Platform for Insurance
aiinsider ·
Outmarket AI has secured $34.5 million in Series B funding to strengthen its position as a leading artificial intelligence platform for the insurance industry. The round was led by SignalFire, with additional participation from Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund. This investment brings the company's total capital raised to $56.5 million, following a $17 million Series A just months prior. CEO Vishal Sankhla attributed the rapid follow-up funding to explosive growth, noting that the platform now serves over 300 agency customers and boasts more than 10,000 active users. Among these clients is over a quarter of the Top 100 insurance agencies, which utilize Outmarket to convert fragmented data into automated workflows. Alongside the financial news, the company launched a new AI-powered Certificates workflow designed to automate the reading of contracts and generation of insurance certificates. This tool aims to reduce manual errors and minimize professional liability exposure for account managers. The company plans to extend its capabilities to carriers later this year to further connect the insurance market.
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