Outmarket AI Secures $17 Million to Enhance Insurance Workflow Automation
Outmarket AI has raised $17 million in Series A funding, increasing total investment to $21.7 million. The funding will accelerate the development of its AI-driven insurance workflow platform, aiming to unify fragmented systems and improve operational efficiency in the insurance industry.
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Outmarket AI has secured $17 million in Series A funding led by Permanent Capital Ventures, boosting total capital to $21.7 million. This funding will facilitate the expansion of its AI-powered platform, designed to automate workflows in commercial, benefits, personal lines, and specialty insurance.
The platform currently supports millions of transactions, enabling brokerages to save significant manual work while improving accuracy and reducing errors by up to 65%. With over 250 brokerages using the platform and annual recurring revenue increasing fivefold year-over-year, the company aims to double its workflow capabilities by 2026. The growing investor interest in insurance infrastructure highlights the industry's shift towards AI-driven solutions.
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