Led by Armory Square Ventures, the round also saw participation from MTech Capital, Grand Ventures, Alumni Ventures, BrokerTech Ventures, Sean Harper (co-founder and CEO of Kin Insurance), and Tom Vander Schaaf, former General Partner at Edison Partners.

Qumis leverages AI and deep legal expertise to help insurance professionals efficiently analyze complex policies, identify coverage gaps, and provide accurate and insightful counsel.

Since its launch in 2023, Qumis has gained traction within the insurance industry, attracting five of the 15 largest US insurance brokers, as well as leading specialty carriers and top insurance-focused law firms.

The Qumis platform can analyze insurance policies and claim files to identify coverage issues, draft coverage letters, and compare policies, quotes, and binders to make informed coverage recommendations.

Dan Schuleman, Qumis co-founder and CEO, said:   “At Qumis, we enable insurance professionals to work smarter, faster, and more confidently. Advances in AI have unlocked the opportunity to re-imagine the way insurance policies are analyzed and understood, transforming workflows that have remained unchanged for decades. This funding will accelerate our mission to bring cutting-edge solutions to an industry still entrenched in paper-based processes.” 

Neenah Jain, partner at Armory Square Ventures, added: “The Qumis team has already achieved extraordinary traction with minimal resources, demonstrating both their ability to execute and meet the immense demand for their platform. We’re thrilled to partner with Qumis to drive the digitization of a legacy industry that is ready for transformation.”