Outmarket has raised a $34.5 million Series B to expand software that automates paperwork for commercial insurance agencies and brokers. SignalFire led the round, joined by Fika Ventures, Permanent Capital Ventures, TTV Capital, and Dash Fund, only four months after the startup announced a $17 million Series A.
Commercial policies can combine more than 250 coverage types, with different applications, documents, and risk details for each business. Outmarket uses AI to read that material and help brokers evaluate and recommend policies, while leaving relationship-heavy work—especially support during claims and emergencies—to people. Founder Vishal Sankhla previously led product at life-insurance distributor Ethos.
The company says a product launched 14 months ago is now used by more than 300 agencies, including one quarter of the largest 100. A person familiar with the investment put Outmarket’s new valuation at $335 million; the company did not publicly detail revenue or the accuracy of its automated recommendations. Competitors include Fulcrum AI and Further AI. The funding signals demand for administrative automation in a large but slow-moving market, but brokers still need controls for document errors and human review when recommendations affect business coverage.