Outmarket AI raises $17m to scale insurance broker platform
Outmarket AI, an InsurTech company building AI software for insurance brokers, closed a $17m Series A round led by Permanent Capital Ventures. The funding brings total capital raised to $21.7m.
The platform connects to agency management systems and automates routine broker tasks: policy checking, loss run analysis, and policy comparison. These workflows have traditionally relied on manual work and disconnected systems.
Outmarket launched in March 2025. The company now serves more than 250 brokerages and processes millions of quotes, policies, and applications annually. Annual recurring revenue has grown fivefold year-over-year.
Customer results and product expansion
Brokerages using the platform report up to 65% reductions in errors and omissions through AI-assisted policy comparison and gap detection. Customers also cite improvements in cross-selling opportunities and client win rates.
The new capital will fund expansion across commercial, benefits, personal lines, and specialty insurance. Outmarket launched its Proposal Builder in December 2025, which reduces proposal creation from hours to minutes.
SignalFire, Fika Ventures, TTV Capital, and Dash Fund participated in the round. Insurance agency networks, agency owners, and industry executives also backed the raise.
Team and positioning
Outmarket appointed Alpesh Patel as chief revenue officer earlier this year. Patel previously held senior sales roles at Salesforce and DocuSign focused on insurance.
CEO Vishal Sankhla said the company is building a platform, not a point solution. "Insurance is a $6 trillion industry that still runs on manual processes, institutional knowledge, and disconnected tools," he said.
CTO Anshu Jain emphasized the platform's integration approach. "We built Outmarket from the ground up to understand the language, logic, and relationships that define insurance," he said. The system unifies structured and unstructured data into a single intelligence layer.
Scott Robinson, CFO at Houchens Insurance Group, said the tool has changed how his team works. "Outmarket allows us to deliver a better product to our clients in less time," Robinson said.
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