Insurtech Outmarket Raises $34.5M Series B at $355M Valuation

Outmarket, an AI startup automating paperwork for commercial insurance brokers, announced a $34.5 million Series B on September 28, 2026, valuing the company at $355 million. SignalFire led the round, with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund. The raise comes four months after Outmarket's $17 million Series A. Founded in late 2023 by Vishal Sankhala, a former product lead at digital life insurer Ethos, Outmarket uses AI to automate administrative tasks for insurance agencies, covering more than 250 commercial coverage types. The startup has signed over 300 insurance agencies since launching its product 14 months ago, including 25% of the top 100 brokers. Sankhala said 95% of U.S. and global insurance is still sold through human agents, a largely manual process. Outmarket competes with Fulcrum AI and Further AI. The U.S. property and casualty market exceeds $1 trillion in annual premiums.