FUNDING · STARTUPS · #1138
Outmarket raises $34.5M Series B to expand its AI paperwork automation for brokers
Outmarket, an insurtech founded by ex‑Ethos product lead Vishal Sankhala, raised a $34.5 million Series B led by SignalFire with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund; the round follows a $17M Series A four months earlier and values the company at about $355 million, according to a person familiar with the investment. The startup builds an AI layer to automate administrative paperwork for commercial insurance agencies and brokers, says it has attracted over 300 agencies (including ~25% of the top 100) since launching a new product 14 months ago.
KEY POINTS
- Outmarket, an insurtech founded by ex‑Ethos product lead Vishal Sankhala, raised a $34.5 million Series B led by SignalFire with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund; the round follows a $17M Series A four months earlier and values the company at about $355 million, according to a person familiar with the investment.
- The startup builds an AI layer to automate administrative paperwork for commercial insurance agencies and brokers, says it has attracted over 300 agencies (including ~25% of the top 100) since launching a new product 14 months ago.
- The funding underscores investor interest in applying AI to automate complex, high‑value insurance brokerage workflows and could accelerate adoption across a large, slow‑moving market.
WHY IT MATTERS
The funding underscores investor interest in applying AI to automate complex, high‑value insurance brokerage workflows and could accelerate adoption across a large, slow‑moving market.