Qumis, a lawyer-built AI-driven platform designed to rework insurance coverage data work, introduced the shut of an oversubscribed $2.2 million pre-seed funding spherical.
The spherical was led by Armory Sq. Ventures with participation from MTech Capital, Grand Ventures, Alumni Ventures, and BrokerTech Ventures. Strategic traders embody Sean Harper, co-founder and CEO of insurtech unicorn Kin Insurance coverage, and Tom Vander Schaaf, former Basic Accomplice at Edison Companions. Additional, among the spherical was funded by Qumis clients, reflecting the market’s confidence within the platform’s potential.
Chicago-based Qumis replaces outdated, guide processes like coverage critiques and claims protection analyses with intuitive AI-powered options.
Co-founder and CEO Dan Schuleman started his profession as an insurance coverage protection legal professional, experiencing firsthand the inefficiencies of manually analyzing advanced property and casualty insurance coverage insurance policies. Co-founder and CTO Shiv Sinha, the previous head of software improvement at Goldman Sachs, brings intensive expertise in constructing and scaling fintech platforms, together with main the event of Marcus.
Qumis stated it is going to use the brand new funding to scale its AI capabilities, speed up product improvement, and increase its buyer base.
Subjects
InsurTech
Data Driven
Artificial Intelligence
Tech
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