FundraiseSep 28, 2026, 16:02 UTC

Insurtech Outmarket raises $34.5M four months after its Series A

What's the deal? Outmarket, an AI startup that automates paperwork for insurance agencies and brokers, has raised a $34.5 million Series B led by SignalFire. Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund also joined. The round values the company at $335 million.

Why now? The raise comes just four months after Outmarket's $17 million Series A. The startup has signed over 300 insurance agencies since launching a new product 14 months ago, including a quarter of the top 100.

What's the endgame? Founder Vishal Sankhla, who previously led product at Ethos and worked at Facebook and Uber, is targeting commercial insurance, where policies span over 250 coverage types and demand heavy manual work. Outmarket's AI evaluates and recommends policies for brokers like Marsh and Aon, freeing agents for tasks that need a human touch.

Why it matters: "Ninety-five percent of insurance in the US and worldwide is still sold through [human] agents, and when you look at sort of like how the process is today, it's very manual," Sankhla told TechCrunch. He sees room to grow against a US property and casualty market worth over $1 trillion in annual premiums.

What could go wrong? Outmarket isn't alone. Rivals including Fulcrum AI and Further AI are building similar AI layers for insurance brokerages.

The signal: The $34.5 million round sits in the 75th percentile by size, and the rapid back-to-back raises signal strong investor appetite for AI tools automating legacy, paperwork-heavy industries.