Outmarket AI Raises $34.5M to Expand Insurance AI Platform

Outmarket AI has raised $34.5 million in Series B funding led by SignalFire. This brings the company's total funding to $56.5 million, following a $17 million Series A raised four months earlier. Outmarket's rapid growth prompted the new funding round. The company now serves 10,000 active users across its platform, with over 300 insurance agencies utilizing its services daily.

More than 25% of the Top 100 insurance agencies are among Outmarket's customers. The company's focus on insurance-specific data and workflows has resulted in significant demand for its AI-powered platform. Outmarket streamlines complex insurance processes, automating tasks that would otherwise consume valuable time for insurance professionals.

By integrating directly with agency management systems, Outmarket reduces repetitive administrative tasks, lowers exposure to errors and liability, and enables employees to dedicate more time to client interactions. The company's latest development is a new Certificates workflow, designed to expedite the issuance of certificates of insurance.

This tool automates the process of identifying coverage requirements, comparing them to policies in the agency management system, and generating certificates. Early adopters have reported faster certificate issuance and fewer errors. Outmarket plans to expand its platform to cover insurance carriers later this year, aiming to reduce manual handoffs between carriers and agencies.

The funding will support ongoing product development, customer expansion, and the company's mission to connect insurance workflows using artificial intelligence.