Outmarket AI, an InsurTech company developing AI software for insurance brokers and agencies, has raised $17m in a Series A funding round led by Permanent Capital Ventures.
The round also included investment from SignalFire, Fika Ventures, TTV Capital and Dash Fund, alongside backing from insurance agency networks, agency owners and industry executives. The latest raise brings the company’s total funding to $21.7m.
Founded to modernise insurance workflows, Outmarket connects directly with agency management systems to turn brokerage data into a centralised intelligence platform. Its tools are designed to automate processes such as policy checking, loss run analysis and policy comparison, areas of the insurance market that have traditionally relied on manual work and disconnected systems.
The company said the new funding will be used to expand its platform and develop additional AI-powered workflows across commercial, benefits, personal lines and specialty insurance. It also plans to broaden the capabilities available to brokerages over the next year.
Outmarket said it has grown rapidly since launching in March 2025, with annual recurring revenue increasing fivefold year-on-year. More than 250 insurance brokerages now use the platform, according to the company, which said its technology processes millions of quotes, policies and applications.
The company said customers have reported reductions of up to 65% in errors and omissions through AI-assisted policy comparison and gap detection. Brokerages using the platform have also seen improvements in cross-selling opportunities and client win rates.
Earlier this year, Outmarket appointed Alpesh Patel as chief revenue officer. Patel previously held senior sales positions at Salesforce and DocuSign focused on the insurance sector. The company also launched its Proposal Builder platform in December 2025, which it said reduces a process that previously took hours into one completed in minutes.
Outmarket AI CEO and co-founder Vishal Sankhla said, “Insurance is a $6 trillion industry that still runs on manual processes, institutional knowledge, and disconnected tools. We’re not building another point solution. We’re building the platform that brings it all together.
“What we’ve shipped so far is just the beginning. The workflows we’re developing next will fundamentally change what’s possible for a brokerage. We chose Permanent Capital Ventures to lead this round because they are operators who understand what it takes to build a category-defining company, and that’s exactly what we intend to do.”
Houchens Insurance Group CFO Scott Robinson said, “Outmarket is the best tool we’ve ever deployed in our agency. The engagement across our team has been remarkable. Outmarket allows us to deliver a better product to our clients in less time. It’s changed how we work.”
Outmarket AI CTO and co-founder Anshu Jain said, “We built Outmarket from the ground up to understand the language, logic, and relationships that define insurance.
“Our platform connects directly to the systems brokerages already run on, unifying structured and unstructured data into a single intelligence layer. Brokers can ask questions across their entire book of business, search carrier appetites in minutes instead of days, and run workflows grounded in their actual data. That’s what makes Outmarket fundamentally different, and we’re just getting started.”
Permanent Capital Ventures co-founder and managing partner Jason Duboe said, “Outmarket has cracked the code on applying AI to one of the most complex sectors in financial services.
“Their obsession with deeply integrated workflows has created a platform that brokers don’t just adopt, they depend on. The speed at which Outmarket has built a loyal customer base is a testament to the product and the team behind it. We’re proud to lead this round and help scale their vision.”
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