Outmarket raises $34.5 million for insurance broker automation

Insurance software startup Outmarket raised a $34.5 million Series B led by SignalFire, TechCrunch reported. The round follows a $17 million Series A four months earlier; a person familiar with the investment put Outmarket's valuation at $355 million. Outmarket uses AI to handle paperwork for commercial insurance agencies and brokers, where policies can require different applications and documents for different risks. The financing gives it more capital to serve those firms, though the reported valuation comes from an unnamed source rather than the company.