Outmarket AI raises $34.5 million
Outmarket AI has raised $34.5 million in Series B funding led by SignalFire, with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund. In May, the startup announced a $17 million Series A round.
Founded in 2023, Outmarket delivers intelligent workflows across commercial, benefits, personal lines, and specialty insurance. The platform connects to agency management systems and some of the features include automated policy checking and loss run analysis. The startup claims that ~300 agency customers, including ~25% of the top 100 insurance agencies, use its platform.
In conjunction with the Series B announcement, Outmarket released a new Certificates workflow for certificates of insurance. The workflow reads the client’s contract or lease, extracts the insurance requirements, checks them against the policies already in the AMS, flags any gaps, and generates the completed ACORD certificate with the correct holders, additional insureds and endorsements attached.
“We didn’t set out to raise again this soon, but the industry told us what it wants. Agencies don’t want another point solution. They want an intelligence layer that understands their data and does the work. Every workflow we automate frees up hours that go back to clients, and that’s the future we’re building toward: an industry where the people who protect businesses and families spend their time on judgment and relationships, not on rekeying data. With this investment, we’re accelerating our roadmap to bring even more value to the agencies that depend on us every day.” – Vishal Sankhla, CEO and Co-founder of Outmarket AI.
“The scale we’ve reached this year has allowed us to build increasingly powerful capabilities into the platform. Our architecture unifies structured and unstructured data so insurance professionals can execute workflows grounded in their actual policies, contracts and client records. When you build an AI platform that natively speaks the language of insurance, the value is immediate and it compounds with every workflow we add.” – Anshu Jain, CTO and Co-founder of Outmarket AI.
“We’ve tracked Outmarket’s trajectory closely, and their execution over the past year has been nothing short of exceptional. To capture this much market share in such a short window is a rare achievement, and even rarer in a complex vertical like insurance. Outmarket isn’t just riding the AI wave; they are the undisputed market leaders setting the standard for how agencies will operate in the intelligence era. We are thrilled to lead this Series B and double down on their vision.” – Tony Pezzullo, Partner at SignalFire.
