The funding brings fresh support to a company trying to solve the problems of vast submission volumes, limited talent, and tools that haven’t kept pace with the insurance industry’s demands. 

The round was led by Stellaris Venture Partners, with backing from Y Combinator and Arali Ventures.

Pibit.AI’s founder Akash Agarwal watched the slow, paperwork-heavy world his father worked in and later saw tech-driven industries move faster while underwriting barely changed. That contrast eventually impacted the central idea behind the business.

At the centre of the company’s features is CURE, a consolidated environment that takes an application from raw submission to risk-rated output. It brings together document intelligence, triage tools, research layers, risk modelling and workflow management in one system, rather than leaving underwriters to jump between fragmented tools. 

The platform includes ClearCURE, DocumentCURE, ResearchCURE, RiskCURE and WorkflowCURE, each responsible for a step that used to rely heavily on manual effort.

Agarwal says the aim isn’t to remove the underwriter but to give them a system that can be trusted. “Pibit.AI was built around one idea: that AI should empower underwriters, not replace them,” he said.

“Too many systems prioritise speed over trust. We’re building something that’s transparent, explainable, and decision-ready – a system that gives underwriters confidence in every output while helping them move faster than ever before.”

Companies using the platform are already reporting a change in how much work their teams can handle. Several clients, including HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic and Method Insurance Company, have seen underwriting cycles cut by as much as 85%, alongside increases in premium per underwriter and improvements in loss ratios. 

For businesses dealing with high submissions, these margins can determine whether growth is sustainable.

Operational leaders inside these firms say the benefits are not theoretical. Michaela Morrison, COO of Method Insurance Services, explained the impact clearly: “As a fast-moving company scaling our operations nationally, Pibit.AI played a key role in ensuring we achieved that growth without losing control.” She added, “Our outcomes aren’t magic; they are the direct product of thoughtful engineering and a team that genuinely listens.”

Kinetic’s CEO, Adam Price, also pointed to the expansion the system made possible. “Pibit.AI helps us to handle more than a billion dollars in submissions on an annual basis without scaling our overhead costs, and grow our business by close to 100% in premium because we’re able to get those looks and quotes up and running.”

For investors, underwriting is too important to remain slow or inconsistent. Stellaris Venture Partners’ Alok Goyal said the platform addresses that directly. “Underwriting has long been constrained by manual reviews, inconsistent data and tools that haven’t kept pace with rising submission volumes,” he said. 

“With CURE, Pibit.AI automates and unifies these workflows, improving accuracy, reducing costs and accelerating quote generation to drive higher revenue. We’re excited to partner with Akash and lead Pibit.AI’s Series A round as it scales.”

Pibit.AI now employs more than 125 people and plans to deepen its infrastructure, expand integrations and build more advanced risk models.

The company also intends to broaden its API capabilities and secure additional data partnerships, making the platform adaptable to new lines of insurance and emerging risk categories.

The funding comes only six months after its $5 million seed round, pushing its total capital raised to $30 million.

At the heart of FurtherAI’s mission is a goal to put an end to the inefficiencies that have long burdened insurance professionals. For decades, underwriters, brokers, and claims handlers have relied on outdated systems and manual processes, spending hours sifting through spreadsheets, PDFs, and disconnected databases. 

FurtherAI wants to change that by automating workflows across underwriting, claims, and compliance, giving insurers the freedom to focus on risk management and client service rather than administrative tasks.

“Insurance is the backbone of the economy, but the people running it have been stuck with outdated tools,” said Aman Gour, co-founder and CEO of FurtherAI. “With this funding, we’re doubling down on building AI workflows that give underwriters, brokers, and claims teams superpowers — freeing them to focus on the work that truly matters.”

The Series A round, which also saw participation from Nexus Venture Partners and Y Combinator, reiterates the current interest in specialised technology in the insurance space. The company plans to use the new funds to expand its catalogue of insurance-specific workflows, strengthen integrations with major carriers and brokers, and scale its go-to-market efforts amid accelerating demand.

The insurance industry, estimated at $7 trillion globally, faces a convergence of challenges, from climate risk to regulatory pressures and a shortage of skilled professionals. Many insurers have attempted to deploy generic automation tools, only to find them inadequate for the industry’s complex documentation and compliance needs. 

FurtherAI provides what it calls an insurance-native workspace, designed to integrate seamlessly with existing systems while delivering precision and scalability.

Sashank Gondala, co-founder and CTO of FurtherAI, explained the company’s hands-on model: “We’re excited to partner with the insurance industry to unlock real value with AI — automating the busy work and opening new avenues of growth. With our forward-deployed engineering model, insurance teams work side-by-side with an AI engineer to ensure impact at scale.”

Already, the firm’s technology processes billions in premiums annually, powering submissions, policy comparisons, and compliance checks for major industry players such as Accelerant, MSI, and Leavitt Group. Early adopters report measurable improvements, including a 15% boost in submission-to-quote ratios, over 95% accuracy in policy comparisons, and up to tenfold faster proposal generation.

“The FurtherAI team has been a fantastic partner in rapidly standing up complex enterprise workflows,” said Venkat Raman, chief bizOps officer at Accelerant. Similarly, Laurie Flanagan of Leavitt Group noted, “Implementing FurtherAI has been game-changing — faster turnarounds, higher accuracy, and a platform we can keep expanding.”

For Andreessen Horowitz, the investment shows FurtherAI’s potential to boost the sector. “FurtherAI is redefining how insurance gets done,” said Joe Schmidt, Partner at a16z. “Aman and Sashank are technical founders whose customers see them as true AI partners, not just AI tools. Their early traction signals a generational opportunity to transform insurance.”

With this latest funding round, FurtherAI appears well-positioned to boost digital transformation in insurance, as efficiency and expertise finally go hand in hand.