Fulcrum, a US-based InsurTech company focused on automating back-office processes for insurance brokers, has raised $25m as it looks to expand the reach of its software among some of the largest brokerage houses in the country.
The company secured the funds across its seed and Series A funding rounds, according to Life Insurance International.
The financing was led by venture capital firm CRV, with backing from South Park Commons, Foundation Capital and a number of angel investors.
Founded to modernise operational workflows in the insurance sector, Fulcrum develops automation tools designed to reduce the manual burden placed on brokerage teams. Its platform enables brokers to streamline tasks such as analysing coverage and claims, generating proposals, checking policies, preparing sales materials for clients and carriers, and issuing certificates.
The new capital will be used to advance its platform and accelerate adoption among large brokerage firms. The company is focused on deepening its integrations with existing agency-management systems, allowing brokers to deploy automation without overhauling their current technology stacks.
The company’s system is built to connect with commonly used software such as Applied Epic. It can also extract policy documents from email and reconcile information across multiple records in real time, a capability Fulcrum said improves accuracy while reducing reliance on manual processes.
Its tools currently handle more than 2,500 hours of manual activity each day across brokerage teams. Fulcrum added that many of its customers are among the “top 50” US insurance brokerages, organisations that have traditionally relied on offshore business process outsourcing providers for tasks such as policy checks and quality assurance.
Fulcrum CEO Arjun Mangla said, “For too long, insurance brokerages have accepted a complex and outdated web of partners, paperwork and legacy systems. We are showing that it doesn’t have to be this way. Fulcrum is re-architecting the brokerage back office with AI that is fast, precise and deeply integrated into how teams actually work.”
CRV general partner Reid Christian said, “Insurance brokers sit at the centre of a trillion-dollar market, but the systems that power their operations are decades old. Fulcrum is uniquely positioned to change that.
“The team has built a solution that fits directly into the systems brokers already use, replacing slow, outsourced workflows with AI that continuously handles the most operationally heavy parts of the job.”
Fulcrum was founded by CEO Arjun Mangla and chief technology officer Sambhav Anand. The company said its technology combines several large language models tailored specifically for insurance, alongside proprietary retrieval, reasoning and validation systems aimed at supporting accuracy and compliance while operating within brokers’ existing workflows.
The $25m raise marks the company’s first publicly disclosed external funding and brings together institutional investors and angel backers as Fulcrum looks to scale its platform across major brokerage operations.
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