Outmarket Secured $34.5 Million in Series B Funding
The startup reached a $355 million valuation as it scales its AI platform for insurance agency automation.
Updated on Sept. 28, 2026 in Startups
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Insurance tech startup Outmarket has raised $34.5 million in a Series B funding round, bringing the company to a $355 million valuation. Launched 14 months ago, the platform automates administrative paperwork and policy recommendations for insurance brokers.
Why it matters
The insurance industry remains highly dependent on manual administrative workflows, which creates significant overhead for managing complex commercial policies. By automating these tasks, Outmarket aims to modernize a sector where 95% of policies are still sold through human agents.
Outmarket currently services 300 insurance agency customers across the United States. Its AI platform is designed to handle the complexity of 250 different insurance coverage types.
The players
Outmarket
An AI-powered startup that automates administrative processes and policy recommendations for insurance brokers.
SignalFire
A venture capital firm that focuses on data-driven investment strategies and led the latest funding round.
The details
Outmarket uses artificial intelligence to ingest and process documentation, effectively offloading manual administrative burdens from brokers. The system assists in the evaluation and recommendation of commercial insurance policies, which often require extensive custom tailoring. By streamlining these processes, the platform provides brokers with a more efficient way to manage diverse portfolios.
Timeline
Late 2023: Vishal Sankhala launched Outmarket.
Four months ago: The company raised $17 million in Series A funding.
September 2026: Outmarket secured $34.5 million in Series B capital.
The Tech Race
The insurance tech market is currently dominated by entrenched manual workflows, with 95% of industry volume still flowing through human agents. Outmarket is competing to become the primary automation layer for these brokers as they grapple with the complexity of 250 distinct policy types.
Insurance brokers using the platform will see a reduction in manual data entry and administrative overhead for complex commercial policies. The company is currently scaling its customer base, which already includes 25% of the top 100 agencies in the United States.
The takeaway
The rapid cadence of funding, moving from a Series A to a Series B in just four months, signals high investor confidence in the platform's utility for insurance brokers. Observers should monitor the company's ability to maintain its growth among the top 100 insurance agencies over the next year.
Further reading
For more on emerging firms changing industry workflows, visit Startups.
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Do you trust AI to handle complex tasks currently managed by human insurance agents?
