Insurance paperwork automation startup Outmarket announces a $34.5M Series B
Two rounds in four months and a reported $355M valuation show capital accelerating into AI paperwork automation for insurance brokers, though the figures are not yet company-disclosed.
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Outmarket, a startup that uses AI to automate commercial insurance paperwork for agencies and brokers, is announcing a $34.5 million Series B led by SignalFire, with Fika Ventures, TTV Capital and others participating.
According to TechCrunch, the round comes just four months after a $17 million Series A and values the company at $355 million — a figure attributed to a person familiar with the investment, with no formal company announcement yet. Founder Vishal Sankhala, who led product at digital life insurer Ethos, started Outmarket in late 2023.
The claim of more than 300 agency customers, a quarter of them among the top 100 brokers, is Sankhala's own. Competitors in the same space include Fulcrum AI and Further AI.