Outmarket AI raises $17 million to expand insurance platform

Outmarket AI has added $17 million in Series A funding to push its insurance software deeper into the day-to-day work of brokerages. The round was led by Permanent Capital Ventures, with participation from SignalFire, Fika Ventures, TTV Capital and Dash Fund, alongside strategic backing from independent agency networks, agency owners and senior industry executives.

The company said the new money brings total funding to $21.7 million and will be used to accelerate product development and market expansion for an AI platform built specifically for insurance. Outmarket is pitching the product as more than a single-task tool. Its system plugs directly into agency management systems and turns fragmented brokerage data into an intelligence layer that can support workflows across commercial lines, benefits, personal lines and specialty insurance.

That vertical focus is the core of the bet. Outmarket said its current products already include automated policy checking and advanced loss run analysis, with more workflows in development aimed at more complex brokerage processes. The pitch is straightforward: keep the intelligence inside the systems agencies already use, instead of forcing staff into another separate portal.

The numbers behind the raise suggest the message is landing. Outmarket said annual recurring revenue has grown fivefold year over year since its launch in March 2025, and more than 250 insurance brokerages now use the platform daily. The company also said it processes millions of quotes, policies, applications and loss-run documents, saving customers the equivalent of more than a decade of manual work each month.

Outmarket also pointed to a sharper risk-control angle. Users have reported up to a 65% reduction in errors and omissions through AI-assisted policy comparison and gap detection, a claim that matters in brokerage operations where missed coverage differences and manual processing mistakes can quickly become expensive liability problems. The funding gives Outmarket more room to keep moving from basic automation toward embedded workflow software, and it signals that insurance AI is being judged less on novelty than on whether it can prove real productivity gains inside the agency stack.