SubstanceAI seeks $2 million in new offering

SubstanceAI , a startup focused on AI-driven insurance workflows, is raising up to $2 million in a new offering, according to a recent SEC filing.

The company has sold $50,000 to date from two investors, with $1.95 million remaining in the round. The offering is being made under Rule 506(b).

Founded in 2025, SubstanceAI is developing AI agents to automate insurance decisioning, from submission to quote, targeting inefficiencies in underwriting workflows.

“Our cutting-edge technology empowers underwriters by automating complex tasks, improving risk assessment accuracy, and optimizing insurance strategies. With a focus on enhancing efficiency and decision-making, SubstanceAI ensures that insurance professionals can navigate the evolving landscape with precision and confidence. Our goal is to transform the underwriting process, enabling smarter, faster, and more reliable outcomes. Join us in revolutionizing the future of insurance!”

The filing lists CEO Anurag Sharma among the company’s executives. Proceeds are not allocated toward compensation for executives.