Outmarket raises $34.5 million in Series B, four months after Series A

Its agency customer base includes about a quarter of the 100 largest firms.

Outmarket, an AI-powered workflow startup for insurance agencies and brokers, has raised a $34.5 million Series B round led by SignalFire, just four months after closing a $17 million Series A. The new funding reportedly gives the company a valuation of $355 million, according to a person familiar with the deal. Founded in late 2023 by former Ethos, Facebook and Uber executive Vishal Sankhala, Outmarket targets commercial insurance, where policies often require bespoke combinations of over 250 coverage types and complex documentation. Its software automates much of the administrative work for large brokerages such as Marsh and Aon, allowing them to process applications and recommend policies more quickly. Since launching a new product 14 months ago, Outmarket has signed up more than 300 agencies, including roughly a quarter of the top 100 firms, in a U.S. property and casualty market that exceeds $1 trillion in annual premiums.