The Pulse
Outmarket Raises $34.5M to Expand Its Insurance AI Platform
Outmarket AI raised $34.5 million in a Series B led by SignalFire, bringing its total funding to $56.5 million. The company also introduced a workflow that checks insurance requirements against agency records and prepares certificates of in
AI.info Team · Written with AI · fact-checked ·
“We didn't set out to raise again this soon, but the industry told us what it wants.”
Vishal Sankhla, CEO and co-founder of Outmarket AI
Outmarket AI has raised $34.5 million in a Series B led by SignalFire, with Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund also participating. The announcement is dated Sept. 25 and appeared on PR Newswire on Sept. 28. The round brings the San Francisco company’s total funding to $56.5 million, just a few months after its $17 million Series A.
A new round after Outmarket’s Series A
Outmarket sells software to insurance agencies, connecting to agency management systems (AMS) and using agency data to automate work across commercial, benefits, personal and specialty insurance. CEO Vishal Sankhla said agencies want a system that can understand their data and complete tasks, rather than another standalone tool. He said the company plans to use the investment to accelerate product development.
The company’s platform recently passed 10,000 active users. More than 300 agency customers use it, including over 25% of the Top 100 insurance agencies, according to Outmarket. Those figures describe the company’s reported reach; the release does not provide a breakdown of paid users or customer activity.
Certificates become the funding announcement’s product test
Alongside the financing, Outmarket introduced a workflow for certificates of insurance, documents agencies issue to show that a client meets specified insurance requirements. The software reads requirements in a client’s contract or lease, checks them against policies stored in the agency management system, flags gaps and prepares an ACORD certificate with the relevant holders, additional insureds and endorsements.
That sequence puts the product in a task where details matter: a missed requirement can create errors-and-omissions exposure for an agency. Outmarket says early customers can issue certificates in minutes and report fewer certificate-related errors. Those are company-reported results; the announcement does not include independent measurements or error-rate comparisons.
Outmarket targets agency workflows and carrier links
The certificate tool joins other recent releases the company lists, including loss-run extraction and analysis, employee-benefits capabilities and a data-intelligence platform. The product strategy depends on bringing structured information from agency systems together with unstructured material such as contracts and policy documents, then applying it to specific tasks. Outmarket CTO and co-founder Anshu Jain said the company’s architecture is designed to ground workflows in policies, contracts and client records.
Outmarket also plans to extend its capabilities to insurance carriers later this year. That would take the platform beyond automating work inside agencies toward connecting agency and carrier processes, although the announcement gives no carrier names or launch dates. For now, the new certificate workflow’s defined handoff is concrete: it compares a client’s contract with agency-held policy records and produces a completed ACORD certificate.